Mainz Biomed (NASDAQ:MYNZ) Downgraded to “Hold” Rating by Maxim Group

Mainz Biomed (NASDAQ:MYNZ) was downgraded by equities research analysts at Maxim Group from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Friday,Zacks.com reports.

Other analysts have also issued reports about the company. Wall Street Zen raised Mainz Biomed to a “hold” rating in a research note on Saturday, December 27th. Weiss Ratings reaffirmed a “sell (e)” rating on shares of Mainz Biomed in a research note on Monday, December 22nd. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Reduce”.

Mainz Biomed Stock Up 2.3%

MYNZ stock opened at $0.83 on Friday. The business has a 50-day simple moving average of $1.00 and a 200 day simple moving average of $1.28. The company has a market cap of $7.52 million, a PE ratio of -0.01 and a beta of 0.31. Mainz Biomed has a 52 week low of $0.55 and a 52 week high of $5.62. The company has a quick ratio of 0.43, a current ratio of 0.52 and a debt-to-equity ratio of 0.44.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Armistice Capital LLC lifted its holdings in Mainz Biomed by 96.5% during the 4th quarter. Armistice Capital LLC now owns 775,263 shares of the company’s stock worth $868,000 after purchasing an additional 380,744 shares in the last quarter. Cerity Partners LLC bought a new stake in Mainz Biomed in the 4th quarter worth approximately $183,000. Finally, Steward Partners Investment Advisory LLC lifted its stake in shares of Mainz Biomed by 200.0% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 30,000 shares of the company’s stock valued at $34,000 after acquiring an additional 20,000 shares during the last quarter.

About Mainz Biomed

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.