Mainz Biomed (NASDAQ:MYNZ) Shares Up 0.7% – Still a Buy?

Mainz Biomed NV (NASDAQ:MYNZ)’s share price rose 0.7% on Thursday . The stock traded as high as $0.4898 and last traded at $0.4770. Approximately 60,899 shares changed hands during mid-day trading, a decline of 93% from the average daily volume of 832,986 shares. The stock had previously closed at $0.4738.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on MYNZ. Weiss Ratings restated a “sell (e)” rating on shares of Mainz Biomed in a report on Monday, December 22nd. Wall Street Zen upgraded Mainz Biomed to a “hold” rating in a research note on Saturday, December 27th. Finally, Maxim Group cut Mainz Biomed from a “strong-buy” rating to a “hold” rating in a report on Friday, March 6th. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Reduce”.

Mainz Biomed Price Performance

The firm has a market capitalization of $4.32 million, a price-to-earnings ratio of -0.01 and a beta of 0.31. The company’s 50 day moving average is $0.81 and its 200 day moving average is $1.15. The company has a quick ratio of 0.43, a current ratio of 0.52 and a debt-to-equity ratio of 0.44.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Armistice Capital LLC raised its position in shares of Mainz Biomed by 96.5% in the fourth quarter. Armistice Capital LLC now owns 775,263 shares of the company’s stock valued at $868,000 after buying an additional 380,744 shares in the last quarter. Cerity Partners LLC acquired a new stake in Mainz Biomed during the fourth quarter worth approximately $183,000. Finally, Steward Partners Investment Advisory LLC increased its stake in Mainz Biomed by 200.0% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 30,000 shares of the company’s stock worth $34,000 after acquiring an additional 20,000 shares during the period.

Mainz Biomed Company Profile

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.