Life science company Bionano Genomics (BNGO) has been getting a lot of attention on Wall Street on both the long and short side. While its stock volatility may scare some, traders have certainly been interested. Does this stock belong in your portfolio? Read more to find out.Bionano Genomics (BNGO) is a life science instrumentation business. To be more specific, BNGO operates in the area of genome analysis. BNGO's products include integrated primary/secondary software, automated imaging instruments, nanochannel chips, and reagents that are application-specific.
Located in lovely San Diego, BNGO was founded in 2003. BNGO's novel gene diagnostic technology is certainly generating plenty of attention from Wall Street traders. However, those who take a close look at BNGO's long-term chart are rightfully concerned that the stock might be overvalued.
Has BNGO climbed too high too quickly? Will profits be taken off the table, sending the stock lower in the weeks and months ahead? Let's take a look at whether BNGO has the merits necessary to justify a position in your portfolio.