Biosig Technologies (NASDAQ:STEX) Price Target Cut to $8.00 by Analysts at Needham & Company LLC

Biosig Technologies (NASDAQ:STEX) had its target price reduced by analysts at Needham & Company LLC from $9.00 to $8.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock.

Other analysts have also recently issued research reports about the company. Weiss Ratings upgraded Biosig Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, May 1st. Wall Street Zen cut Biosig Technologies from a “hold” rating to a “strong sell” rating in a research report on Sunday, April 5th. One investment 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, the stock presently has an average rating of “Hold” and a consensus target price of $8.00.

Biosig Technologies Stock Performance

Biosig Technologies stock opened at $1.09 on Thursday. The stock has a market capitalization of $197.44 million, a PE ratio of -0.11 and a beta of 1.58. Biosig Technologies has a one year low of $0.70 and a one year high of $14.11. The firm’s fifty day moving average price is $1.21.

Biosig Technologies (NASDAQ:STEX) last posted its quarterly earnings data on Thursday, May 14th. The company reported $999.00 EPS for the quarter.

Insider Transactions at Biosig Technologies

In related news, CIO Mitchell Young Williams sold 263,863 shares of the stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $0.79, for a total transaction of $208,451.77. Following the completion of the sale, the executive owned 3,037,648 shares in the company, valued at approximately $2,399,741.92. This trade represents a 7.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Karl Henry Michael Mcphie sold 30,611 shares of the stock in a transaction dated Tuesday, April 14th. The stock was sold at an average price of $1.07, for a total value of $32,753.77. Following the sale, the chief executive officer owned 969,389 shares of the company’s stock, valued at $1,037,246.23. This represents a 3.06% 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. In the last 90 days, insiders sold 320,736 shares of company stock valued at $269,659. Company insiders own 52.73% of the company’s stock.

Biosig Technologies Company Profile

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.