Biosig Technologies (NASDAQ:STEX) Shares Down 7.8% – Here’s What Happened

Biosig Technologies, Inc. (NASDAQ:STEX)’s stock price dropped 7.8% during trading on Monday . The stock traded as low as $3.28 and last traded at $3.30. Approximately 1,817,643 shares were traded during trading, an increase of 10% from the average daily volume of 1,648,350 shares. The stock had previously closed at $3.58.

Analysts Set New Price Targets

Separately, Weiss Ratings started coverage on Biosig Technologies in a research report on Friday, January 23rd. They set a “sell (d-)” rating on the stock. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the company presently has an average rating of “Sell”.

Biosig Technologies Price Performance

The stock has a market capitalization of $526.68 million, a PE ratio of -2.44 and a beta of 1.50.

Insider Activity

In related news, CIO Mitchell Young Williams purchased 51,511 shares of the firm’s stock in a transaction dated Friday, January 23rd. The stock was acquired at an average price of $3.03 per share, with a total value of $156,078.33. Following the completion of the transaction, the executive owned 1,051,511 shares of the company’s stock, valued at $3,186,078.33. This represents a 5.15% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Morgan Lee Lekstrom purchased 41,000 shares of the company’s stock in a transaction that occurred on Friday, January 23rd. The stock was bought at an average price of $3.13 per share, with a total value of $128,330.00. Following the purchase, the director owned 48,000 shares of the company’s stock, valued at approximately $150,240. The trade was a 585.71% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders acquired 1,123,511 shares of company stock worth $3,386,718. 52.73% of the stock is currently owned by insiders.

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.