Biosig Technologies (NASDAQ:STEX) Shares Down 7.8% – Here’s Why

Biosig Technologies, Inc. (NASDAQ:STEX)’s stock price was down 7.8% during mid-day trading on Monday . The company traded as low as $3.28 and last traded at $3.30. Approximately 1,817,643 shares traded hands during mid-day trading, an increase of 10% from the average daily volume of 1,648,350 shares. The stock had previously closed at $3.58.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings assumed coverage on shares of Biosig Technologies in a research note on Friday, January 23rd. They set a “sell (d-)” rating on the stock. One research analyst has rated the stock with a Sell rating, According to MarketBeat, Biosig Technologies has an average rating of “Sell”.

Biosig Technologies Price Performance

Insider Activity

In related news, major shareholder Frank Giustra purchased 100,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 4th. The stock was purchased at an average cost of $3.17 per share, with a total value of $317,000.00. Following the completion of the acquisition, the insider directly owned 1,278,205 shares in the company, valued at $4,051,909.85. This trade represents a 8.49% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, CIO Mitchell Young Williams bought 51,511 shares of the stock in a transaction dated Friday, January 23rd. The stock was purchased at an average cost of $3.03 per share, for a total transaction of $156,078.33. Following 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 SEC filing for this purchase provides additional information. Over the last three months, insiders acquired 1,247,011 shares of company stock valued at $3,775,628. Insiders own 52.73% of the company’s stock.

About Biosig Technologies

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.