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 Biosig Technologies stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $0.72, for a total transaction of $52,336.08. Following the transaction, the executive owned 2,885,814 shares of the company’s stock, valued at $2,077,786.08. This represents a 2.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Biosig Technologies Price Performance

STEX opened at $0.71 on Friday. Biosig Technologies, Inc. has a fifty-two week low of $0.66 and a fifty-two week high of $7.44. The firm has a market capitalization of $83.27 million, a PE ratio of -0.08 and a beta of 2.01. The company’s 50-day moving average is $0.82 and its 200 day moving average is $1.16.

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

Biosig Technologies declared that its board has authorized a share buyback plan on Tuesday, July 7th that authorizes the company to repurchase 10,000,000,000,000 outstanding shares. This repurchase authorization authorizes the company to reacquire up to 5.5% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

STEX has been the subject of several recent research reports. Wall Street Zen upgraded Biosig Technologies from a “strong sell” rating to a “sell” rating in a report on Saturday, August 22nd. Needham & Company LLC cut their price objective on shares of Biosig Technologies to $4.00 and set a “buy” rating on the stock in a report on Tuesday, August 18th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Biosig Technologies in a research note on Wednesday, July 29th. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Biosig Technologies has a consensus rating of “Hold” and an average target price of $4.00.

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.