Mainz Biomed (NASDAQ:MYNZ) Stock Price Down 5.3% – What’s Next?

Mainz Biomed NV (NASDAQ:MYNZ)’s share price traded down 5.3% on Friday . The company traded as low as $2.20 and last traded at $2.33. 2,188,354 shares changed hands during trading, an increase of 489% from the average session volume of 371,589 shares. The stock had previously closed at $2.46.

Wall Street Analysts Forecast Growth

Separately, Maxim Group lowered Mainz Biomed from a “strong-buy” rating to a “hold” rating in a research report on Friday, March 6th. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Reduce”.

Mainz Biomed Stock Down 5.3%

The business has a 50-day moving average price of $1.28 and a two-hundred day moving average price of $1.10. The company has a quick ratio of 0.43, a current ratio of 0.52 and a debt-to-equity ratio of 0.44. The firm has a market cap of $21.11 million, a PE ratio of -0.04 and a beta of 0.31.

Hedge Funds Weigh In On Mainz Biomed

A number of institutional investors and hedge funds have recently modified their holdings of the company. Steward Partners Investment Advisory LLC grew its stake in shares of Mainz Biomed by 200.0% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 30,000 shares of the company’s stock worth $34,000 after purchasing an additional 20,000 shares in the last quarter. Armistice Capital LLC grew its stake in shares of Mainz Biomed by 45.0% during the second quarter. Armistice Capital LLC now owns 285,000 shares of the company’s stock worth $402,000 after purchasing an additional 88,400 shares in the last quarter. Finally, Cerity Partners LLC acquired a new position in shares of Mainz Biomed during the fourth quarter worth $183,000.

Mainz Biomed Company Profile

Mainz Biomed AG is a molecular diagnostics company headquartered in Mainz, Germany, specializing in epigenetics-based tests for the early detection of cancer. The company develops proprietary assays that analyze DNA methylation patterns and other epigenetic biomarkers to identify malignancies at a stage when treatment outcomes are most favorable. Mainz Biomed’s technology platform is designed to offer non-invasive, easy-to-use screening solutions that can be deployed both in laboratory settings and at point of care.

The company’s flagship product, ColoAlert®, is a stool-based colorectal cancer screening test that combines DNA methylation markers with bacterial gene targets to improve sensitivity and specificity for detecting advanced adenomas and early-stage colorectal cancer.