Needham & Company LLC Cuts BioAge Labs (NASDAQ:BIOA) Price Target to $35.00

BioAge Labs (NASDAQ:BIOA) had its price objective dropped by analysts at Needham & Company LLC from $50.00 to $35.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. Needham & Company LLC’s target price points to a potential upside of 290.49% from the company’s current price.

BIOA has been the subject of several other reports. Jefferies Financial Group set a $21.00 target price on shares of BioAge Labs in a research report on Friday. Wall Street Zen downgraded BioAge Labs from a “hold” rating to a “sell” rating in a research note on Sunday, May 17th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of BioAge Labs in a research report on Tuesday, July 21st. Roth Capital reissued a “buy” rating on shares of BioAge Labs in a research report on Friday. Finally, BTIG Research assumed coverage on shares of BioAge Labs in a report on Wednesday, May 13th. They set a “buy” rating and a $40.00 price objective on the stock. Six research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, BioAge Labs currently has a consensus rating of “Moderate Buy” and an average target price of $38.14.

BioAge Labs Price Performance

Shares of NASDAQ:BIOA traded down $15.89 during trading on Friday, reaching $8.96. 9,040,341 shares of the stock were exchanged, compared to its average volume of 669,118. BioAge Labs has a 1-year low of $4.11 and a 1-year high of $25.95. The stock has a fifty day moving average of $20.76 and a two-hundred day moving average of $19.59. The firm has a market cap of $398.41 million, a price-to-earnings ratio of -3.73 and a beta of 0.61.

BioAge Labs (NASDAQ:BIOA) last posted its quarterly earnings results on Friday, May 8th. The company reported ($0.52) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.71) by $0.19. BioAge Labs had a negative net margin of 871.75% and a negative return on equity of 29.40%. The business had revenue of $2.77 million during the quarter. Sell-side analysts forecast that BioAge Labs will post -2.68 EPS for the current year.

Institutional Investors Weigh In On BioAge Labs

Several large investors have recently made changes to their positions in the business. Geode Capital Management LLC increased its position in BioAge Labs by 60.8% in the second quarter. Geode Capital Management LLC now owns 453,455 shares of the company’s stock worth $1,873,000 after buying an additional 171,426 shares during the last quarter. Walleye Capital LLC purchased a new stake in BioAge Labs in the 2nd quarter worth approximately $64,000. Marshall Wace LLP boosted its holdings in BioAge Labs by 324.7% in the 2nd quarter. Marshall Wace LLP now owns 226,789 shares of the company’s stock valued at $937,000 after purchasing an additional 173,388 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in BioAge Labs by 85.6% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,955 shares of the company’s stock valued at $54,000 after purchasing an additional 5,976 shares during the period. Finally, Ameriprise Financial Inc. purchased a new position in shares of BioAge Labs during the 2nd quarter valued at $182,000.

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.