BioAge Labs (NASDAQ:BIOA) Stock Price Down 5.6% – Here’s Why

BioAge Labs, Inc. (NASDAQ:BIOA) shares dropped 5.6% on Monday . The company traded as low as $20.00 and last traded at $19.5760. Approximately 71,256 shares traded hands during mid-day trading, a decline of 92% from the average daily volume of 939,951 shares. The stock had previously closed at $20.73.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Wall Street Zen raised BioAge Labs from a “sell” rating to a “hold” rating in a research report on Tuesday, February 3rd. Morgan Stanley set a $23.00 target price on shares of BioAge Labs in a report on Wednesday, February 4th. Piper Sandler started coverage on BioAge Labs in a report on Tuesday, January 27th. They issued an “overweight” rating for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of BioAge Labs in a research note on Tuesday, January 27th. Finally, Citigroup increased their price target 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. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $19.00.

BioAge Labs Trading Down 1.0%

The company has a market capitalization of $716.74 million, a P/E ratio of -13.15 and a beta of 1.42. The business’s fifty day moving average price is $16.27 and its 200-day moving average price is $9.58.

Insiders Place Their Bets

In other news, CFO Dov A. Md Goldstein sold 27,000 shares of the business’s stock in a transaction dated Tuesday, January 13th. The stock was sold at an average price of $19.70, for a total value of $531,900.00. Following the completion of the sale, the chief financial officer owned 22,408 shares of the company’s stock, valued at approximately $441,437.60. The trade was a 54.65% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Kristen Fortney sold 233,107 shares of BioAge Labs stock in a transaction that occurred on Tuesday, January 13th. The stock was sold at an average price of $18.12, for a total value of $4,223,898.84. Following the completion of the transaction, the chief executive officer directly owned 976,949 shares in the company, valued at $17,702,315.88. This trade represents a 19.26% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 354,437 shares of company stock valued at $5,813,228. 20.82% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On BioAge Labs

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of BioAge Labs by 6.0% during the third quarter. Vanguard Group Inc. now owns 1,651,247 shares of the company’s stock worth $9,709,000 after purchasing an additional 93,694 shares during the period. Geode Capital Management LLC lifted its holdings in BioAge Labs by 5.1% in the 4th quarter. Geode Capital Management LLC now owns 591,377 shares of the company’s stock worth $7,826,000 after buying an additional 28,646 shares during the period. Millennium Management LLC grew its position in shares of BioAge Labs by 749.8% in the 3rd quarter. Millennium Management LLC now owns 306,552 shares of the company’s stock worth $1,803,000 after buying an additional 270,479 shares during the last quarter. Marshall Wace LLP increased its stake in shares of BioAge Labs by 324.7% during the second quarter. Marshall Wace LLP now owns 226,789 shares of the company’s stock valued at $937,000 after buying an additional 173,388 shares during the period. Finally, Stonepine Capital Management LLC raised its holdings in shares of BioAge Labs by 202.2% during the second 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 in the last quarter.

BioAge Labs Company Profile

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.