Maxim Group Downgrades Mainz Biomed (NASDAQ:MYNZ) to Hold

Mainz Biomed (NASDAQ:MYNZ) was downgraded by equities research analysts at Maxim Group from a “strong-buy” rating to a “hold” rating in a report issued on Friday,Zacks.com reports.

Several other analysts have also issued reports on MYNZ. Wall Street Zen raised Mainz Biomed to a “hold” rating in a report on Saturday, December 27th. Weiss Ratings reaffirmed a “sell (e)” rating on shares of Mainz Biomed in a research note on Monday, December 22nd. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Reduce”.

Mainz Biomed Stock Up 2.3%

MYNZ stock opened at $0.83 on Friday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.43 and a current ratio of 0.52. The company has a market capitalization of $7.52 million, a price-to-earnings ratio of -0.01 and a beta of 0.31. Mainz Biomed has a fifty-two week low of $0.55 and a fifty-two week high of $5.62. The business’s 50 day moving average price is $1.00 and its two-hundred day moving average price is $1.27.

Institutional Trading of Mainz Biomed

Institutional investors and hedge funds have recently modified their holdings of the company. Steward Partners Investment Advisory LLC increased its stake in Mainz Biomed by 200.0% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 30,000 shares of the company’s stock worth $34,000 after buying an additional 20,000 shares in the last quarter. Armistice Capital LLC boosted its stake in shares of Mainz Biomed by 45.0% in the second quarter. Armistice Capital LLC now owns 285,000 shares of the company’s stock worth $402,000 after acquiring an additional 88,400 shares during the period. Finally, Cerity Partners LLC bought a new position in shares of Mainz Biomed in the fourth quarter worth about $183,000.

About Mainz Biomed

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.