BioStem Technologies (OTCMKTS:BSEM) Shares Down 2.9% – Here’s What Happened

Shares of BioStem Technologies, Inc. (OTCMKTS:BSEM) fell 2.9% during mid-day trading on Monday . The stock traded as low as $3.39 and last traded at $3.48. 24,258 shares changed hands during trading, a decline of 49% from the average daily volume of 47,737 shares. The stock had previously closed at $3.5850.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on BSEM. HC Wainwright initiated coverage on shares of BioStem Technologies in a report on Wednesday, May 6th. They set a “buy” rating and a $9.00 price target on the stock. Zacks Research raised BioStem Technologies to a “hold” rating in a research report on Wednesday, March 18th. One analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $9.00.

BioStem Technologies Stock Down 2.9%

The stock has a 50 day moving average of $4.18 and a 200 day moving average of $4.77. The company has a market capitalization of $62.05 million, a price-to-earnings ratio of -3.12 and a beta of 0.03.

BioStem Technologies (OTCMKTS:BSEM) last announced its earnings results on Thursday, May 14th. The company reported ($0.52) EPS for the quarter, missing the consensus estimate of ($0.28) by ($0.24). The company had revenue of $6.14 million during the quarter, compared to analyst estimates of $5.70 million. As a group, sell-side analysts anticipate that BioStem Technologies, Inc. will post -1.95 EPS for the current fiscal year.

About BioStem Technologies

BioStem Technologies, Inc, a life sciences corporation, focuses on discovering, developing, and producing pharmaceutical and regenerative medicine products and services. It develops various biologic stem cell based alternative products, as a treatment for ailments, such as joint pain, tendon and ligament injuries, neurodegenerative, and autoimmune diseases. The company is also engages in the repackaging and distribution of active pharmaceutical ingredients and other pharmaceutical compounding supplies; and develops and markets nutraceutical products under the Dr.