Biosig Technologies (NASDAQ:STEX) Shares Gap Up Following Insider Buying Activity

Biosig Technologies, Inc. (NASDAQ:STEX) gapped up before the market opened on Wednesday following insider buying activity. The stock had previously closed at $3.65, but opened at $3.88. Biosig Technologies shares last traded at $3.76, with a volume of 1,599,808 shares traded.

Specifically, major shareholder Frank Giustra acquired 1,000,000 shares of the company’s stock in a transaction that occurred on Friday, January 23rd. The stock was bought at an average price of $3.00 per share, with a total value of $3,000,000.00. Following the purchase, the insider owned 1,178,205 shares in the company, valued at approximately $3,534,615. The trade was a 561.15% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Morgan Lee Lekstrom acquired 23,000 shares of Biosig Technologies stock in a transaction that occurred on Monday, January 26th. The shares were bought at an average price of $3.30 per share, for a total transaction of $75,900.00. Following the transaction, the director owned 71,000 shares of the company’s stock, valued at $234,300. This represents a 47.92% increase in their position. The SEC filing for this purchase provides additional information. In related news, Director Morgan Lee Lekstrom bought 41,000 shares of the company’s stock in a transaction on Friday, January 23rd. The stock was bought at an average cost of $3.13 per share, for a total transaction of $128,330.00. Following the acquisition, the director directly owned 48,000 shares in the company, valued at $150,240. This represents a 585.71% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings started coverage on shares of Biosig Technologies in a research report on Friday, January 23rd. They set a “sell (d-)” rating on the stock. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Sell”.

Biosig Technologies Stock Down 11.6%

Biosig Technologies Company Profile

Biosig Technologies (NASDAQ:STEX) is a medical technology company focused on developing advanced signal acquisition and processing solutions for cardiac electrophysiology. The company’s work centers on improving the clarity and interpretability of intracardiac signals captured during electrophysiology procedures, with the goal of helping clinicians identify arrhythmogenic substrates and make more informed procedural decisions.

Its primary offering is a signal-processing platform that combines proprietary hardware and software to amplify, filter and display intracardiac electrical activity with reduced noise and distortion.