Biosig Technologies (NASDAQ:STEX) CIO Mitchell Young Williams Sells 72,689 Shares of Stock

Biosig Technologies, Inc. (NASDAQ:STEX) CIO Mitchell Young Williams sold 72,689 shares of Biosig Technologies stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $0.72, for a total transaction of $52,336.08. Following the completion of the transaction, the executive directly owned 2,885,814 shares of the company’s stock, valued at $2,077,786.08. The trade was a 2.46% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Biosig Technologies Stock Performance

Shares of Biosig Technologies stock opened at $0.69 on Friday. The firm has a 50-day simple moving average of $0.82 and a two-hundred day simple moving average of $1.16. Biosig Technologies, Inc. has a fifty-two week low of $0.66 and a fifty-two week high of $7.44. The company has a market cap of $80.37 million, a P/E ratio of -0.08 and a beta of 2.01.

Biosig Technologies (NASDAQ:STEX) last posted its earnings results on Friday, August 14th. The company reported ($0.08) EPS for the quarter. The firm had revenue of $0.15 million during the quarter.

Biosig Technologies declared that its Board of Directors has initiated a share repurchase program on Tuesday, July 7th that allows the company to buyback 10,000,000,000,000 outstanding shares. This buyback authorization allows the company to reacquire up to 5.5% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

STEX has been the subject of a number of recent analyst reports. Needham & Company LLC cut their price objective on Biosig Technologies to $4.00 and set a “buy” rating for the company in a research report on Tuesday, August 18th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Biosig Technologies in a research report on Wednesday, July 29th. Finally, Wall Street Zen raised shares of Biosig Technologies from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 22nd. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, Biosig Technologies has a consensus rating of “Hold” and a consensus price target of $4.00.

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.