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

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

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

Biosig Technologies Stock Down 8.4%

Biosig Technologies stock opened at $1.09 on Thursday. The business has a fifty day moving average of $1.21. Biosig Technologies has a 12 month low of $0.70 and a 12 month high of $14.11. The company has a market capitalization of $197.44 million, a P/E ratio of -0.11 and a beta of 1.58.

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

Insiders Place Their Bets

In other news, CEO Karl Henry Michael Mcphie sold 30,611 shares of the company’s stock in a transaction on Tuesday, April 14th. The stock was sold at an average price of $1.07, for a total transaction of $32,753.77. Following the transaction, the chief executive officer directly owned 969,389 shares of the company’s stock, valued at $1,037,246.23. This represents a 3.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CIO Mitchell Young Williams sold 263,863 shares of the company’s stock in a transaction on Friday, May 1st. The shares were sold at an average price of $0.79, for a total value of $208,451.77. Following the transaction, the executive directly owned 3,037,648 shares in the company, valued at approximately $2,399,741.92. The trade was a 7.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders have sold 320,736 shares of company stock worth $269,659. Corporate 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.