BillionToOne initiated with an Outperform at William Blair

William Blair analyst Andrew Brackmann initiated coverage of BillionToOne (BLLN) with an Outperform rating. The commercial-stage, rapidly growing, profitable lab company is “special,” offering differentiated tests in established markets of prenatal genetics and oncology, which are “massive markets totaling well over $50 billion,” the analyst tells investors. Shares are up 113% since pricing its many-times oversubscribed IPO, but based on 40-plus investor conversations during the roadshow, the firm sees strong appetite for high-growth, profitable diagnostic companies and has confidence that BillionToOne can deliver at, or more likely above, the firm’s estimates, the analyst added.