Biosig Technologies (NASDAQ:STEX – Free Report) had its price target lowered by Needham & Company LLC to $4.00 in a report published on Tuesday,Benzinga reports. Needham & Company LLC currently has a buy rating on the stock.
Other research analysts have also recently issued research reports about the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Biosig Technologies in a report on Wednesday, July 29th. Wall Street Zen lowered shares of Biosig Technologies from a “sell” rating to a “strong sell” rating in a research note on Saturday, July 18th. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Biosig Technologies has an average rating of “Hold” and a consensus target price of $4.00.
Read Our Latest Report on STEX
Biosig Technologies Stock Up 6.1%
Biosig Technologies (NASDAQ:STEX – Get Free Report) last announced its quarterly earnings results on Friday, August 14th. The company reported ($0.08) earnings per share (EPS) for the quarter. The business had revenue of $0.15 million during the quarter.
Biosig Technologies declared that its Board of Directors has authorized a stock buyback program on Tuesday, July 7th that allows the company to buyback 10,000,000,000,000 shares. This buyback authorization allows the company to repurchase up to 5.5% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board of directors believes its stock is undervalued.
Insider Buying and Selling
In other Biosig Technologies news, Chairman Morgan Lee Lekstrom bought 50,000 shares of the firm’s stock in a transaction dated Friday, June 12th. The shares were purchased at an average price of $0.99 per share, for a total transaction of $49,500.00. Following the transaction, the chairman directly owned 359,500 shares of the company’s stock, valued at approximately $355,905. This represents a 16.16% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CIO Mitchell Young Williams sold 23,810 shares of Biosig Technologies stock in a transaction on Monday, June 1st. The shares were sold at an average price of $1.05, for a total transaction of $25,000.50. Following the completion of the sale, the executive directly owned 3,013,838 shares in the company, valued at $3,164,529.90. This represents a 0.78% 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. Company 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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