Needham & Company LLC Begins Coverage on BioAge Labs (NASDAQ:BIOA)

Research analysts at Needham & Company LLC assumed coverage on shares of BioAge Labs (NASDAQ:BIOA) in a research report issued to clients and investors on Friday, MarketBeat Ratings reports. The brokerage set a “buy” rating and a $50.00 price target on the stock. Needham & Company LLC’s target price suggests a potential upside of 209.60% from the stock’s previous close.

A number of other brokerages have also issued reports on BIOA. Oppenheimer initiated coverage on shares of BioAge Labs in a research note on Wednesday, February 25th. They issued an “outperform” rating and a $60.00 target price on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of BioAge Labs in a research note on Tuesday, January 27th. Morgan Stanley set a $23.00 price objective on BioAge Labs in a report on Wednesday, February 4th. Piper Sandler began coverage on BioAge Labs in a report on Tuesday, January 27th. They set an “overweight” rating on the stock. Finally, Citigroup lifted their target price on BioAge Labs from $15.00 to $52.00 and gave the stock a “buy” rating in a research report on Tuesday, March 10th. Four investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $46.25.

BioAge Labs Trading Down 0.6%

Shares of NASDAQ:BIOA opened at $16.15 on Friday. The company has a fifty day simple moving average of $19.88 and a 200 day simple moving average of $13.02. The firm has a market cap of $716.74 million, a PE ratio of -7.21 and a beta of 1.22. BioAge Labs has a 12-month low of $2.88 and a 12-month high of $24.00.

BioAge Labs (NASDAQ:BIOA) last posted its quarterly earnings results on Tuesday, March 24th. The company reported ($0.72) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.83) by $0.11. The firm had revenue of $3.08 million for the quarter. BioAge Labs had a negative net margin of 896.11% and a negative return on equity of 27.86%.

Insider Activity

In other BioAge Labs news, insider Paul D. Rubin sold 7,433 shares of the firm’s stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $18.75, for a total value of $139,368.75. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Kristen Fortney sold 233,107 shares of BioAge Labs stock in a transaction that occurred on Tuesday, January 13th. The shares were sold at an average price of $18.12, for a total value of $4,223,898.84. Following the completion of the transaction, the chief executive officer owned 976,949 shares of the company’s stock, valued at approximately $17,702,315.88. The trade was a 19.26% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 267,540 shares of company stock valued at $4,895,168. Company insiders own 20.82% of the company’s stock.

Hedge Funds Weigh In On BioAge Labs

Several institutional investors have recently made changes to their positions in BIOA. CWM LLC lifted its holdings in shares of BioAge Labs by 39.9% in the 4th quarter. CWM LLC now owns 3,693 shares of the company’s stock worth $49,000 after purchasing an additional 1,053 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in BioAge Labs by 24.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 14,808 shares of the company’s stock worth $196,000 after buying an additional 2,917 shares during the last quarter. Barclays PLC grew its stake in BioAge Labs by 9.3% during the 4th quarter. Barclays PLC now owns 37,780 shares of the company’s stock worth $500,000 after buying an additional 3,222 shares during the last quarter. Bank of America Corp DE increased its position in BioAge Labs by 46.3% in the third quarter. Bank of America Corp DE now owns 11,119 shares of the company’s stock worth $65,000 after buying an additional 3,517 shares during the period. Finally, Vontobel Holding Ltd. lifted its stake in BioAge Labs by 36.4% in the third quarter. Vontobel Holding Ltd. now owns 15,000 shares of the company’s stock valued at $88,000 after buying an additional 4,000 shares during the last quarter.

BioAge Labs Company Profile

BioAge Labs (NASDAQ: BIOA) is a clinical-stage biotechnology company focused on discovering and developing therapies that address age-associated diseases. The company leverages its proprietary analytics platform to mine large-scale human biological data for insights into the molecular mechanisms of aging. By targeting fundamental aging pathways, BioAge aims to create interventions that extend healthspan and treat conditions that disproportionately affect older populations.

At the core of BioAge’s operations is its integrated drug discovery platform, which combines human omics datasets, machine learning algorithms and experimental validation to identify novel drug targets.