BioAge Labs (NASDAQ:BIOA) Stock Price Down 9.8% – Here’s What Happened

BioAge Labs, Inc. (NASDAQ:BIOA) was down 9.8% on Tuesday . The company traded as low as $17.04 and last traded at $16.8090. Approximately 98,728 shares were traded during trading, a decline of 87% from the average daily volume of 752,681 shares. The stock had previously closed at $18.63.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of BioAge Labs in a report on Tuesday, January 27th. Citigroup raised their price objective on BioAge Labs from $15.00 to $52.00 and gave the company a “buy” rating in a report on Tuesday, March 10th. Morgan Stanley set a $23.00 target price on BioAge Labs in a research report on Wednesday, February 4th. Oppenheimer assumed coverage on BioAge Labs in a research note on Wednesday, February 25th. They issued an “outperform” rating and a $60.00 target price for the company. Finally, Piper Sandler began coverage on shares of BioAge Labs in a research report on Tuesday, January 27th. They set an “overweight” rating on the stock. Three research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $45.00.

BioAge Labs Trading Up 1.9%

The company has a market capitalization of $588.30 million, a P/E ratio of -7.33 and a beta of 1.22. The stock’s fifty day moving average is $20.07 and its 200 day moving average is $12.86.

BioAge Labs (NASDAQ:BIOA) last announced its quarterly earnings results on Tuesday, March 24th. The company reported ($0.72) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.83) by $0.11. BioAge Labs had a negative net margin of 896.11% and a negative return on equity of 27.31%. The business had revenue of $3.08 million for the quarter.

Insider Transactions at BioAge Labs

In related news, CEO Kristen Fortney sold 233,107 shares of the firm’s stock in a transaction dated Tuesday, January 13th. The stock was sold at an average price of $18.12, for a total value of $4,223,898.84. Following the sale, the chief executive officer directly owned 976,949 shares of the company’s stock, valued at $17,702,315.88. This trade represents a 19.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Dov A. Md Goldstein sold 27,000 shares of the business’s stock in a transaction dated Tuesday, January 13th. The shares were sold at an average price of $19.70, for a total value of $531,900.00. Following the transaction, the chief financial officer owned 22,408 shares in the company, valued at approximately $441,437.60. This represents a 54.65% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 267,540 shares of company stock worth $4,895,168. Company insiders own 20.82% of the company’s stock.

Hedge Funds Weigh In On BioAge Labs

Hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its stake in BioAge Labs by 6.0% in the third quarter. Vanguard Group Inc. now owns 1,651,247 shares of the company’s stock worth $9,709,000 after acquiring an additional 93,694 shares during the period. Adage Capital Partners GP L.L.C. purchased a new position in BioAge Labs during the 4th quarter valued at $13,892,000. Geode Capital Management LLC raised its holdings in BioAge Labs by 5.1% in the 4th quarter. Geode Capital Management LLC now owns 591,377 shares of the company’s stock worth $7,826,000 after purchasing an additional 28,646 shares in the last quarter. State Street Corp lifted its position in shares of BioAge Labs by 113.4% in the 4th quarter. State Street Corp now owns 422,846 shares of the company’s stock worth $5,594,000 after purchasing an additional 224,735 shares during the period. Finally, Janus Henderson Group PLC purchased a new stake in shares of BioAge Labs in the 4th quarter worth about $5,406,000.

About BioAge Labs

BioAge Labs (NASDAQ: BIOA) is a clinical-stage biotechnology company focused on discovering and developing therapies that address age-associated diseases. The company leverages its proprietary analytics platform to mine large-scale human biological data for insights into the molecular mechanisms of aging. By targeting fundamental aging pathways, BioAge aims to create interventions that extend healthspan and treat conditions that disproportionately affect older populations.

At the core of BioAge’s operations is its integrated drug discovery platform, which combines human omics datasets, machine learning algorithms and experimental validation to identify novel drug targets.