BioAge Labs (NASDAQ:BIOA) Trading 8% Higher – Here’s Why

BioAge Labs, Inc. (NASDAQ:BIOA)’s stock price shot up 8% during trading on Monday . The company traded as high as $20.58 and last traded at $20.5150. 362,862 shares were traded during mid-day trading, a decline of 64% from the average session volume of 1,017,757 shares. The stock had previously closed at $18.99.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of BioAge Labs in a research report on Tuesday, January 27th. Wall Street Zen downgraded shares of BioAge Labs from a “hold” rating to a “sell” rating in a report on Monday, January 26th. Citigroup raised their price objective on shares of BioAge Labs from $10.00 to $15.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. Finally, Piper Sandler assumed coverage on BioAge Labs in a research report on Tuesday, January 27th. They set an “overweight” rating for the company. Two investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $15.00.

BioAge Labs Price Performance

The stock has a market cap of $720.69 million, a P/E ratio of -13.22 and a beta of 1.38. The stock has a 50-day simple moving average of $14.49 and a 200-day simple moving average of $8.74.

BioAge Labs (NASDAQ:BIOA) last posted its quarterly earnings results on Thursday, November 6th. The company reported ($0.56) earnings per share for the quarter, beating the consensus estimate of ($0.67) by $0.11. The company had revenue of $2.05 million during the quarter.

Insider Buying and Selling at BioAge Labs

In related news, CFO Dov A. Md Goldstein sold 27,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 13th. The stock was sold at an average price of $19.70, for a total transaction of $531,900.00. Following the completion of the transaction, the chief financial officer owned 22,408 shares in the company, valued at $441,437.60. This represents a 54.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Paul D. Rubin sold 18,000 shares of BioAge Labs stock in a transaction dated Tuesday, December 9th. The stock was sold at an average price of $12.00, for a total value of $216,000.00. The SEC filing for this sale provides additional information. Insiders sold 347,004 shares of company stock valued at $5,673,859 in the last quarter. Company insiders own 20.82% of the company’s stock.

Institutional Investors Weigh In On BioAge Labs

Hedge funds have recently added to or reduced their stakes in the business. Millennium Management LLC boosted its stake in shares of BioAge Labs by 749.8% in the third quarter. Millennium Management LLC now owns 306,552 shares of the company’s stock worth $1,803,000 after acquiring an additional 270,479 shares during the last quarter. Marshall Wace LLP increased its holdings in shares of 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 acquiring an additional 173,388 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of BioAge Labs by 60.8% in the 2nd quarter. Geode Capital Management LLC now owns 453,455 shares of the company’s stock valued at $1,873,000 after purchasing an additional 171,426 shares during the last quarter. Stonepine Capital Management LLC increased its position in BioAge Labs by 202.2% in the 2nd quarter. Stonepine Capital Management LLC now owns 151,085 shares of the company’s stock valued at $624,000 after acquiring an additional 101,085 shares during the period. Finally, Vanguard Group Inc. increased its holdings in shares of BioAge Labs by 6.0% in the 3rd quarter. Vanguard Group Inc. now owns 1,651,247 shares of the company’s stock valued at $9,709,000 after purchasing an additional 93,694 shares in the last quarter.

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.