BioSig Technologies (BSGM) Downgraded to Sell at Zacks Investment Research

Zacks Investment Research cut shares of BioSig Technologies (NASDAQ:BSGM) from a hold rating to a sell rating in a report issued on Tuesday morning, Zacks.com reports.

According to Zacks, “BioSig Technologies, Inc. is a medical device company which is engaged in developing technology platform to improve cardiac recording during electrophysiology studies and ablation procedures. “

Separately, Laidlaw set a $11.00 price target on BioSig Technologies and gave the stock a buy rating in a report on Wednesday, February 20th.

NASDAQ BSGM opened at $6.35 on Tuesday. BioSig Technologies has a 52 week low of $3.50 and a 52 week high of $7.88.

BioSig Technologies (NASDAQ:BSGM) last posted its quarterly earnings results on Monday, April 15th. The company reported ($0.33) EPS for the quarter, missing the consensus estimate of ($0.30) by ($0.03).

In related news, CEO Kenneth L. Londoner acquired 18,700 shares of BioSig Technologies stock in a transaction that occurred on Tuesday, January 22nd. The shares were purchased at an average cost of $4.35 per share, for a total transaction of $81,345.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 26.70% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently modified their holdings of BSGM. Deutsche Bank AG bought a new position in shares of BioSig Technologies during the 4th quarter valued at $58,000. Millennium Management LLC bought a new position in shares of BioSig Technologies during the 4th quarter valued at $670,000. Finally, Virtu Financial LLC bought a new position in shares of BioSig Technologies during the 4th quarter valued at $48,000. Hedge funds and other institutional investors own 3.72% of the company’s stock.

About BioSig Technologies

BioSig Technologies, Inc, a development stage medical device company, engages in developing a proprietary biomedical signal processing technology platform to extract information from physiologic signals. Its product is PURE (Precise Uninterrupted Real-time evaluation of Electrograms) EP System, a surface electrocardiogram and intracardiac multichannel recording and analysis system that acquires, processes, and displays electrocardiogram and electrograms required during electrophysiology studies and catheter ablation procedures.

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