Biosig Technologies (NASDAQ:STEX) Trading Up 7.8% – Here’s Why

Biosig Technologies, Inc. (NASDAQ:STEX) shares shot up 7.8% during mid-day trading on Friday . The company traded as high as $3.64 and last traded at $3.60. 581,892 shares were traded during mid-day trading, a decline of 60% from the average session volume of 1,448,993 shares. The stock had previously closed at $3.34.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings began coverage on shares of Biosig Technologies in a research note on Friday, January 23rd. They issued a “sell (d-)” rating for the company. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Sell”.

Biosig Technologies Stock Performance

The company has a market capitalization of $532.02 million, a PE ratio of -2.65 and a beta of 1.48.

Insiders Place Their Bets

In related news, CIO Mitchell Young Williams purchased 51,511 shares of the company’s stock in a transaction on Friday, January 23rd. The shares were bought at an average price of $3.03 per share, with a total value of $156,078.33. Following the completion of the acquisition, the executive owned 1,051,511 shares of the company’s stock, valued at approximately $3,186,078.33. This represents a 5.15% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, major shareholder Frank Giustra acquired 1,000,000 shares of the business’s stock in a transaction dated Friday, January 23rd. The shares were bought at an average price of $3.00 per share, with a total value of $3,000,000.00. Following the transaction, the insider directly owned 1,178,205 shares in the company, valued at approximately $3,534,615. The trade was a 561.15% increase in their position. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders have acquired 1,123,511 shares of company stock worth $3,386,718. 52.73% of the stock is 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.