Mainz Biomed (NASDAQ:MYNZ) Trading Down 3% – What’s Next?

Mainz Biomed NV (NASDAQ:MYNZ) shares fell 3% on Wednesday . The company traded as low as $1.28 and last traded at $1.60. 6,708,513 shares were traded during mid-day trading, an increase of 8,794% from the average session volume of 75,428 shares. The stock had previously closed at $1.65.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Mainz Biomed in a report on Saturday, September 27th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $14.00.

Mainz Biomed Price Performance

The company’s 50-day moving average price is $1.62 and its two-hundred day moving average price is $2.14. The company has a market cap of $8.66 million, a P/E ratio of -0.02 and a beta of 0.25. The company has a current ratio of 0.52, a quick ratio of 0.43 and a debt-to-equity ratio of 0.44.

Institutional Investors Weigh In On Mainz Biomed

A hedge fund recently raised its stake in Mainz Biomed stock. Armistice Capital LLC raised its stake in Mainz Biomed NV (NASDAQ:MYNZ) by 45.0% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 285,000 shares of the company’s stock after purchasing an additional 88,400 shares during the period. Armistice Capital LLC owned 6.23% of Mainz Biomed worth $402,000 as of its most recent SEC filing.

About Mainz Biomed

Mainz Biomed N.V. develops and sells in-vitro diagnostic tests for the early detection of cancer in the United States. The company offers ColoAlert, a colorectal cancer diagnostic molecular genetic stool test. It also develops PancAlert, a stool-based screening test for the detection of pancreatic cancer.