Mainz Biomed (NASDAQ:MYNZ) Trading Up 12.4% – What’s Next?

Shares of Mainz Biomed NV (NASDAQ:MYNZ) shot up 12.4% on Monday . The stock traded as high as $1.92 and last traded at $1.63. 65,779,351 shares were traded during trading, an increase of 17,602% from the average session volume of 371,589 shares. The stock had previously closed at $1.45.

Analyst Ratings Changes

Separately, Maxim Group downgraded shares of Mainz Biomed from a “strong-buy” rating to a “hold” rating in a research report on Friday, March 6th. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce”.

Mainz Biomed Trading Up 12.4%

The company has a current ratio of 0.52, a quick ratio of 0.43 and a debt-to-equity ratio of 0.44. The company has a market cap of $14.77 million, a price-to-earnings ratio of -0.02 and a beta of 0.31. The firm has a 50-day moving average price of $1.70 and a 200 day moving average price of $1.18.

Hedge Funds Weigh In On Mainz Biomed

A number of hedge funds have recently added to or reduced their stakes in the business. Armistice Capital LLC raised its holdings in shares of Mainz Biomed by 96.5% during the fourth quarter. Armistice Capital LLC now owns 775,263 shares of the company’s stock worth $868,000 after purchasing an additional 380,744 shares during the period. Cerity Partners LLC bought a new position in shares of Mainz Biomed in the 4th quarter worth about $183,000. Finally, Steward Partners Investment Advisory LLC boosted its holdings in shares of Mainz Biomed by 200.0% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 30,000 shares of the company’s stock valued at $34,000 after buying an additional 20,000 shares during the period.

Mainz Biomed Company Profile

Mainz Biomed AG is a molecular diagnostics company headquartered in Mainz, Germany, specializing in epigenetics-based tests for the early detection of cancer. The company develops proprietary assays that analyze DNA methylation patterns and other epigenetic biomarkers to identify malignancies at a stage when treatment outcomes are most favorable. Mainz Biomed’s technology platform is designed to offer non-invasive, easy-to-use screening solutions that can be deployed both in laboratory settings and at point of care.

The company’s flagship product, ColoAlert®, is a stool-based colorectal cancer screening test that combines DNA methylation markers with bacterial gene targets to improve sensitivity and specificity for detecting advanced adenomas and early-stage colorectal cancer.