BioAge Labs (NASDAQ:BIOA) Shares Gap Up – Time to Buy?

BioAge Labs, Inc. (NASDAQ:BIOA)’s stock price gapped up prior to trading on Friday . The stock had previously closed at $16.25, but opened at $16.90. BioAge Labs shares last traded at $16.40, with a volume of 70,644 shares trading hands.

Wall Street Analysts Forecast Growth

BIOA has been the subject of a number of recent analyst reports. Oppenheimer initiated coverage on BioAge Labs in a report on Wednesday, February 25th. They set an “outperform” rating and a $60.00 price target for the company. Wall Street Zen upgraded BioAge Labs from a “sell” rating to a “hold” rating in a report on Tuesday, February 3rd. Piper Sandler initiated coverage on BioAge Labs in a research note on Tuesday, January 27th. They set an “overweight” rating for the company. Citigroup upped their price target on BioAge Labs from $15.00 to $52.00 and gave the company a “buy” rating in a report on Tuesday, March 10th. Finally, Morgan Stanley set a $23.00 price target on shares of BioAge Labs in a research note on Wednesday, February 4th. Four research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $46.25.

BioAge Labs Stock Up 0.3%

The firm has a fifty day simple moving average of $19.97 and a 200-day simple moving average of $12.89. The company has a market cap of $723.31 million, a PE ratio of -7.27 and a beta of 1.22.

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

Insider Buying and Selling at BioAge Labs

In other news, insider Paul D. Rubin sold 7,433 shares of BioAge Labs stock in a transaction on 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 can be accessed through this hyperlink. Also, CEO Kristen Fortney sold 233,107 shares of BioAge Labs stock in a transaction on Tuesday, January 13th. The shares were sold at an average price of $18.12, for a total transaction of $4,223,898.84. Following the completion of the transaction, the chief executive officer directly owned 976,949 shares in the company, valued at $17,702,315.88. The trade was a 19.26% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 267,540 shares of company stock worth $4,895,168. 20.82% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of BIOA. Adage Capital Partners GP L.L.C. acquired a new position in BioAge Labs in the fourth quarter valued at $13,892,000. Janus Henderson Group PLC acquired a new stake in shares of BioAge Labs during the fourth quarter worth about $5,406,000. Millennium Management LLC grew its holdings in shares of BioAge Labs by 749.8% during the third quarter. Millennium Management LLC now owns 306,552 shares of the company’s stock worth $1,803,000 after buying an additional 270,479 shares during the last quarter. Sphera Funds Management LTD. purchased a new position in shares of BioAge Labs during the fourth quarter worth about $3,215,000. Finally, Invesco Ltd. acquired a new position in BioAge Labs in the 4th quarter valued at about $3,025,000.

About BioAge Labs

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.