Key Points
- CIO Mitchell Young Williams sold 72,689 Biosig Technologies shares at an average price of $0.72, generating $52,336.08. The sale covered tax-withholding obligations tied to vested equity awards and reduced his ownership by 2.46% to 2,885,814 shares.
- STEX opened at $0.69 and trades near its one-year low of $0.66, compared with a one-year high of $7.44. The company recently reported a quarterly loss of $0.08 per share and revenue of $0.15 million.
- Analyst sentiment is mixed, with one Buy and one Sell rating producing an overall “Hold” consensus and a $4.00 average price target. Biosig has also authorized a repurchase of up to 5.5% of its outstanding shares.
Biosig Technologies, Inc. (NASDAQ:STEX - Get Free Report) CIO Mitchell Young Williams sold 72,689 shares of Biosig Technologies stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $0.72, for a total value of $52,336.08. Following the completion of the sale, the executive directly owned 2,885,814 shares in the company, valued at $2,077,786.08. This represents a 2.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Biosig Technologies Stock Performance
Shares of STEX opened at $0.69 on Friday. Biosig Technologies, Inc. has a one year low of $0.66 and a one year high of $7.44. The stock has a market capitalization of $80.37 million, a price-to-earnings ratio of -0.08 and a beta of 2.01. The stock has a 50 day moving average price of $0.82 and a 200 day moving average price of $1.16.
Biosig Technologies (NASDAQ:STEX - Get Free Report) last posted its quarterly earnings data on Friday, August 14th. The company reported ($0.08) EPS for the quarter. The company had revenue of $0.15 million during the quarter.
Biosig Technologies announced that its Board of Directors has initiated a stock repurchase program on Tuesday, July 7th that allows the company to buyback 10,000,000,000,000 outstanding shares. This buyback authorization allows the company to reacquire up to 5.5% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's leadership believes its stock is undervalued.
Analysts Set New Price Targets
STEX has been the subject of a number of recent research reports. Weiss Ratings reiterated a "sell (d-)" rating on shares of Biosig Technologies in a research report on Wednesday, July 29th. Wall Street Zen upgraded shares of Biosig Technologies from a "strong sell" rating to a "sell" rating in a research report on Saturday, August 22nd. Finally, Needham & Company LLC dropped their price objective on shares of Biosig Technologies to $4.00 and set a "buy" rating for the company in a research note on Tuesday, August 18th. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $4.00.
View Our Latest Research Report on STEX
About Biosig Technologies
(
Get Free Report)
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.
Further Reading
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