Biosig Technologies (NASDAQ:STEX) CIO Sells $52,336.08 in Stock

Biosig Technologies, Inc. (NASDAQ:STEX) CIO Mitchell Young Williams sold 72,689 shares of the 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 transaction, the executive directly owned 2,885,814 shares of the company’s stock, valued at approximately $2,077,786.08. The trade was a 2.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Biosig Technologies Price Performance

Shares of Biosig Technologies stock traded down $0.03 during midday trading on Thursday, hitting $0.69. 839,240 shares of the company were exchanged, compared to its average volume of 1,675,730. The firm has a market cap of $80.37 million, a P/E ratio of -0.08 and a beta of 2.01. Biosig Technologies, Inc. has a 52 week low of $0.66 and a 52 week high of $7.44. The firm has a 50 day simple moving average of $0.82 and a 200-day simple moving average of $1.17.

Biosig Technologies (NASDAQ:STEX) last announced its quarterly earnings results on Friday, August 14th. The company reported ($0.08) earnings per share for the quarter. The business had revenue of $0.15 million during the quarter.

Biosig Technologies announced that its Board of Directors has approved a stock buyback plan on Tuesday, July 7th that permits the company to repurchase 10,000,000,000,000 outstanding shares. This repurchase authorization permits the company to buy up to 5.5% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Analyst Ratings Changes

A number of brokerages recently issued reports on STEX. 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. Needham & Company LLC reduced their price target on shares of Biosig Technologies to $4.00 and set a “buy” rating on the stock in a research report on Tuesday, August 18th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Biosig Technologies in a research note on Wednesday, July 29th. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $4.00.

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.