Biosig Technologies (NASDAQ:BSGM) Stock Price Down 2.8% - What's Next?

Key Points

• Biosig Technologies stock price fell 2.8%, trading between $4.74 and $4.78, with a significant drop in trading volume of 54% compared to its average.
• Analysts have a consensus Buy rating for the stock, with a price target raised to $10.00 from a previous $2.50.
• Institutional investors have significantly increased their positions in Biosig Technologies, with Bank of America raising its stake by over 2,600% during the second quarter.

Biosig Technologies, Inc. (NASDAQ:BSGM - Get Free Report)'s share price dropped 2.8% during trading on Monday . The stock traded as low as $4.74 and last traded at $4.78. Approximately 377,575 shares changed hands during trading, a decline of 54% from the average daily volume of 821,420 shares. The stock had previously closed at $4.92.

Analyst Ratings Changes

Separately, Ascendiant Capital Markets lifted their price objective on shares of Biosig Technologies from $2.50 to $10.00 and gave the stock a "buy" rating in a research note on Friday, June 6th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $10.00.

Biosig Technologies Stock Down 2.8%

The company's 50 day moving average price is $5.76 and its 200-day moving average price is $3.51.

Biosig Technologies (NASDAQ:BSGM - Get Free Report) last announced its earnings results on Friday, August 15th. The company reported ($0.74) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.70). Research analysts expect that Biosig Technologies, Inc. will post -0.88 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Biosig Technologies

A number of institutional investors have recently modified their holdings of BSGM. Bank of America Corp DE increased its position in Biosig Technologies by 2,601.2% during the second quarter. Bank of America Corp DE now owns 8,671 shares of the company's stock worth $62,000 after acquiring an additional 8,350 shares during the period. PFG Investments LLC increased its position in Biosig Technologies by 43.5% during the first quarter. PFG Investments LLC now owns 158,286 shares of the company's stock worth $95,000 after acquiring an additional 48,000 shares during the period. Greenleaf Trust bought a new position in Biosig Technologies during the second quarter worth $114,000. Geode Capital Management LLC bought a new position in Biosig Technologies during the fourth quarter worth $143,000. Finally, Cambridge Investment Research Advisors Inc. increased its position in Biosig Technologies by 966.3% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 266,435 shares of the company's stock worth $160,000 after acquiring an additional 241,447 shares during the period. Institutional investors own 7.16% of the company's stock.

About Biosig Technologies

BioSig Technologies, Inc, together with its subsidiaries, a medical device company, engages in development and commercialization of advanced digital signal processing technology platform for the treatment of cardiovascular arrhythmias in the United States. It offers PURE EP system, a signal processing platform that combines hardware and software to address known challenges associated to signal acquisition that enables electrophysiologists to see signals and analyze in real-time, as well as is designed to address long-standing limitations that slow and disrupt cardiac catheter ablation procedures.

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