US-EU Index Rebalances / Quantitative Researcher, ORTEX

Dimitris Ioannidis

US-EU Index Rebalances / Quantitative Researcher

Global Financial Data and Analytics Platform

ORTEX

ORTEX is a global financial data and analytics platform providing real-time securities lending and short interest data, index rebalance data, holdings and insider transactions, trading signals, corporate actions and news,  stock machine learning and factor scores and other analytics. The majority of the data are downloadable and accessible through APIs.

Index Rebalance

<ul>
<li>
<a href="https://www.smartkarma.com/entities/billiontoone-inc" target="_blank" data-smartkarma-citation="entities:45919:1" rel="noopener">BillionToOne (BLLN US)</a> went public on 6 November 2025 on Nasdaq and has a current market cap of $4bn following a price jump of ~50% above the offer price.</li>
<li>Initial exclusion from US and Global indices is expected due to insufficient free float and public voting rights.</li>
<li>Delayed inclusion in US and Global indices is forecasted for September 2026 and onwards, following lock-up expiry which increases free float and public voting rights above thresholds.</li>
</ul>



BillionToOne (BLLN US) went public on 6 November 2025 on Nasdaq and has a current market cap of $4bn following a price jump of ~50% above the offer price.
Initial exclusion from US and Global indices is expected due to insufficient free float and public voting rights.
Delayed inclusion in US and Global indices is forecasted for September 2026 and onwards, following lock-up expiry which increases free float and public voting rights above thresholds.


BillionToOne (BLLN US): Delayed US & Global Index Inclusion Following Lock‑up

Equity/Index & Cross Asset Volatility Specialist, Cameron Design

Jay Cameron

Equity/Index & Cross Asset Volatility Specialist

Cameron Design

We specialize in financial products and volatility. Our strategies balance speed, data, and risk control to capture opportunities across global markets. Our research leverages AI and data analytics to continuously refine our algorithms and adapt to evolving market dynamics.

Equity Derivatives

<ul>
<li>BillionToOne leverages its patented Quantitative Counting Technology (QCT) to achieve superior disease detection in molecular diagnostics, positioning the firm as a leader in prenatal  testing, carrier screening, oncology testing markets.</li>
<li>Demonstrating strong operational efficiency, BLLN achieved a 113% year-over-year revenue increase in 2024 and a 65% gross margin in the first half of 2025, suggesting a path to sustained profitability.</li>
<li>With a successful public debut, the recent price pullback, and an additional oncology pipeline slated for 2026, the company presents an intriguing opportunity for strategic long-term position building.</li>
</ul>


BillionToOne leverages its patented Quantitative Counting Technology (QCT) to achieve superior disease detection in molecular diagnostics, positioning the firm as a leader in prenatal  testing, carrier screening, oncology testing markets.
Demonstrating strong operational efficiency, BLLN achieved a 113% year-over-year revenue increase in 2024 and a 65% gross margin in the first half of 2025, suggesting a path to sustained profitability.
With a successful public debut, the recent price pullback, and an additional oncology pipeline slated for 2026, the company presents an intriguing opportunity for strategic long-term position building.


BillionToOne: More Than 60% Above IPO Pricing, What’s Ahead?

US IPOs and Secondary Offerings, IPO Boutique

IPO Boutique

US IPOs and Secondary Offerings

For more than 20 years, we have been providing research, analysis, commentary and ratings on US Equity Capital Markets to institutional investors (US IPOs and Secondary Offerings). Our vast network of contacts across the Equity Capital Markets and attention-to-detail sets us apart from our competitors.

Since 2012, we have achieved a successful hit rating on 89% of Buy-rated IPOs. The collective “Buy” ratings averaged a first trade of 16.3% above issue.Our Neutral Rated Deals averaged just 2% above the issue price at first trade.

Our written research includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

In addition, we provide a high-touch premium desk access which includes analyst access, as well as real time insights on US IPOs as well as secondary offerings.

IPOs and Secondary Offerings

Equity Capital Markets

<ul>
<li>BillionToOne priced above range at $60.00 and opened at $100.00, closing up 81.6% at $108.94.</li>
<li>The deal was more than 20x oversubscribed, driven by strong long-only and healthcare demand</li>
<li>Backed by top-tier investors and partnerships with Johnson &amp; Johnson, BLLN’s profitability and precision platform stood out in a choppy IPO market.</li>
</ul>


BillionToOne priced above range at $60.00 and opened at $100.00, closing up 81.6% at $108.94.
The deal was more than 20x oversubscribed, driven by strong long-only and healthcare demand
Backed by top-tier investors and partnerships with Johnson &amp; Johnson, BLLN’s profitability and precision platform stood out in a choppy IPO market.


BillionToOne, Inc. (BLLN): Precision Diagnostics Firm Soars 82% in One of 2025’s Best IPO Debuts

<ul>
<li>Single-Molecule precision enables highly accurate, scalable tests across prenatal and oncology diagnostics, setting BillionToOne apart from traditional sequencing-based competitors.</li>
<li>BillionToOne delivers 100%+ revenue growth, 69% gross margins, and positive EBITDA—rare performance metrics in molecular diagnostics ahead of its $2.3B IPO.</li>
<li>IPO is multiple-times oversubscribed with long-only healthcare anchors and top-tier backers, signaling strong institutional confidence ahead of pricing.</li>
</ul>


Single-Molecule precision enables highly accurate, scalable tests across prenatal and oncology diagnostics, setting BillionToOne apart from traditional sequencing-based competitors.
BillionToOne delivers 100%+ revenue growth, 69% gross margins, and positive EBITDA—rare performance metrics in molecular diagnostics ahead of its $2.3B IPO.
IPO is multiple-times oversubscribed with long-only healthcare anchors and top-tier backers, signaling strong institutional confidence ahead of pricing.


BillionToOne (BLLN) IPO: High-Growth Molecular Diagnostics Firm Captures Strong Investor Interest

<ul>
<li>BillionToOne (BLLN US) set terms for its IPO on October 17th by offering 3.846 million shares at $49-$55 and to debut on November 6th.</li>
<li>The underwriters have reserved up to 5% of the shares of Class A common stock through a directed share program. </li>
<li>There is a lot to like about this company including the explosive revenue growth and the narrowing losses.</li>
</ul>


BillionToOne (BLLN US) set terms for its IPO on October 17th by offering 3.846 million shares at $49-$55 and to debut on November 6th.
The underwriters have reserved up to 5% of the shares of Class A common stock through a directed share program. 
There is a lot to like about this company including the explosive revenue growth and the narrowing losses.


BillionToOne, Inc (BLLN): Precision Diagnostics Company Sets Terms, Seeking Up to $2.4b Valuation

United States

BillionToOne, Inc. operates as a diagnostics company. The Company provides quantitative counting templates that detects genetic disorders in the developing baby from maternal blood, as well as invents in the patent-pending molecular counter platform, which increases the resolution of cell-free DNA detection. BillionToOne serves customers in the United States.

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BillionToOne (BLLN US)