Wall Street Zen cut shares of Biosig Technologies (NASDAQ:STEX – Free Report) from a sell rating to a strong sell rating in a report released on Saturday morning.
Several other equities analysts have also weighed in on the stock. Weiss Ratings upgraded shares of Biosig Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, May 1st. Needham & Company LLC lowered their price target on Biosig Technologies from $9.00 to $8.00 and set a “buy” rating for the company in a report on Thursday, May 21st. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $8.00.
Read Our Latest Stock Analysis on STEX
Biosig Technologies Stock Down 0.9%
Biosig Technologies (NASDAQ:STEX – Get Free Report) last posted its quarterly earnings results on Thursday, May 14th. The company reported ($0.27) EPS for the quarter.
Biosig Technologies declared that its board has approved a share repurchase program on Tuesday, July 7th that permits the company to buyback 10,000,000,000,000 outstanding shares. This buyback authorization permits the company to repurchase up to 5.5% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s management believes its stock is undervalued.
Insider Buying and Selling at Biosig Technologies
In other news, Chairman Morgan Lee Lekstrom purchased 147,000 shares of the stock in a transaction that occurred on Thursday, May 21st. The stock was acquired at an average cost of $1.04 per share, with a total value of $152,880.00. Following the acquisition, the chairman owned 269,500 shares in the company, valued at approximately $280,280. This trade represents a 120.00% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CIO Mitchell Young Williams sold 263,863 shares of Biosig Technologies stock in a transaction on Friday, May 1st. The stock was sold at an average price of $0.79, for a total transaction of $208,451.77. Following the sale, the executive directly owned 3,037,648 shares in the company, valued at $2,399,741.92. This trade represents a 7.99% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders bought 231,000 shares of company stock valued at $252,360 over the last 90 days. Insiders own 52.73% of the company’s stock.
About Biosig Technologies
Biosig Technologies (NASDAQ:STEX) is a medical technology company focused on developing advanced signal acquisition and processing solutions for cardiac electrophysiology. The company’s work centers on improving the clarity and interpretability of intracardiac signals captured during electrophysiology procedures, with the goal of helping clinicians identify arrhythmogenic substrates and make more informed procedural decisions.
Its primary offering is a signal-processing platform that combines proprietary hardware and software to amplify, filter and display intracardiac electrical activity with reduced noise and distortion.
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