BioAge Labs (NASDAQ:BIOA) Shares Up 8.7% – Here’s Why

Shares of BioAge Labs, Inc. (NASDAQ:BIOA) rose 8.7% during trading on Tuesday . The stock traded as high as $16.85 and last traded at $17.20. Approximately 39,262 shares changed hands during trading, a decline of 95% from the average daily volume of 739,205 shares. The stock had previously closed at $15.83.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Piper Sandler assumed coverage on shares of BioAge Labs in a research note on Tuesday, January 27th. They issued an “overweight” rating for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of BioAge Labs in a research note on Tuesday, January 27th. Needham & Company LLC started coverage on shares of BioAge Labs in a report on Friday. They issued a “buy” rating and a $50.00 target price on the stock. Wall Street Zen raised shares of BioAge Labs from a “sell” rating to a “hold” rating in a research report on Tuesday, February 3rd. Finally, Citigroup upped their price target on shares of BioAge Labs from $15.00 to $52.00 and gave the company a “buy” rating in a report on Tuesday, March 10th. Four equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $46.25.

BioAge Labs Stock Performance

The company has a market capitalization of $789.56 million, a P/E ratio of -8.01 and a beta of 1.21. The company has a 50-day simple moving average of $19.80 and a 200 day simple moving average of $13.15.

BioAge Labs (NASDAQ:BIOA) last posted its quarterly earnings data 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. BioAge Labs had a negative return on equity of 27.86% and a negative net margin of 896.11%.The company had revenue of $3.08 million during the quarter.

Insiders Place Their Bets

In other news, CEO Kristen Fortney sold 233,107 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer owned 976,949 shares in the company, valued at approximately $17,702,315.88. The trade was a 19.26% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Dov A. Md Goldstein sold 27,000 shares of the company’s stock in a transaction dated Tuesday, January 13th. The shares were sold at an average price of $19.70, for a total transaction of $531,900.00. Following the transaction, the chief financial officer directly owned 22,408 shares of the company’s stock, valued at $441,437.60. This represents a 54.65% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 267,540 shares of company stock worth $4,895,168 in the last ninety days. Insiders own 20.82% of the company’s stock.

Institutional Trading of BioAge Labs

A number of hedge funds have recently modified their holdings of BIOA. Russell Investments Group Ltd. acquired a new stake in shares of BioAge Labs during the 3rd quarter worth approximately $27,000. Police & Firemen s Retirement System of New Jersey acquired a new position in shares of BioAge Labs in the second quarter valued at $27,000. CWM LLC lifted its position in BioAge Labs by 39.9% in the fourth quarter. CWM LLC now owns 3,693 shares of the company’s stock worth $49,000 after purchasing an additional 1,053 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in BioAge Labs by 85.6% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,955 shares of the company’s stock worth $54,000 after buying an additional 5,976 shares in the last quarter. Finally, Intech Investment Management LLC acquired a new stake in BioAge Labs during the second quarter worth $60,000.

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.