Bank of America Corp DE Buys 257,855 Shares of BioAge Labs, Inc. $BIOA

Key Points

• Bank of America acquired 257,855 BioAge Labs shares in the second quarter, valued at approximately $6.32 million and representing 0.56% of the company.
• BioAge reported a quarterly loss of $0.58 per share, better than analysts’ expected $0.65 loss, on $2.45 million in revenue. The company remains deeply unprofitable, with a negative net margin of 912.26%.
• Analyst sentiment is broadly positive, with six Buy ratings and one Sell rating; the average price target is $36.57 versus the stock’s recent price of $7.05. BioAge is developing aging-related medicines, including its lead candidate azelaprag.

Bank of America Corp DE acquired a new position in shares of BioAge Labs, Inc. (NASDAQ:BIOA - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 257,855 shares of the company's stock, valued at approximately $6,320,000. Bank of America Corp DE owned 0.56% of BioAge Labs as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Legal & General Group Plc bought a new stake in shares of BioAge Labs during the second quarter worth $84,000. State of Wyoming acquired a new position in shares of BioAge Labs during the second quarter worth $154,000. The Manufacturers Life Insurance Company bought a new position in shares of BioAge Labs in the 2nd quarter valued at $234,000. Bank of Nova Scotia bought a new position in shares of BioAge Labs in the 1st quarter valued at $180,000. Finally, Bank of New York Mellon Corp boosted its holdings in shares of BioAge Labs by 22.8% during the 1st quarter. Bank of New York Mellon Corp now owns 75,568 shares of the company's stock valued at $1,322,000 after acquiring an additional 14,008 shares in the last quarter.

BioAge Labs Price Performance

Shares of BIOA stock opened at $7.05 on Monday. The company has a market cap of $323.60 million, a price-to-earnings ratio of -2.96 and a beta of 0.94. BioAge Labs, Inc. has a 52 week low of $5.04 and a 52 week high of $25.95. The firm has a 50 day moving average of $11.83 and a 200-day moving average of $16.48.

BioAge Labs (NASDAQ:BIOA - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The company reported ($0.58) EPS for the quarter, beating analysts' consensus estimates of ($0.65) by $0.07. The business had revenue of $2.45 million during the quarter. BioAge Labs had a negative net margin of 912.26% and a negative return on equity of 28.99%. Analysts anticipate that BioAge Labs, Inc. will post -2.45 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have commented on BIOA shares. Weiss Ratings reissued a "sell (d-)" rating on shares of BioAge Labs in a research note on Tuesday, July 21st. BTIG Research reaffirmed a "buy" rating and issued a $40.00 price objective on shares of BioAge Labs in a research note on Tuesday, September 8th. Needham & Company LLC dropped their price objective on shares of BioAge Labs from $50.00 to $35.00 and set a "buy" rating for the company in a report on Friday, July 31st. Jefferies Financial Group set a $21.00 target price on shares of BioAge Labs in a research report on Friday, July 31st. Finally, Roth Capital reissued a "buy" rating and set a $25.00 target price on shares of BioAge Labs in a report on Wednesday, September 9th. Six equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, BioAge Labs currently has an average rating of "Moderate Buy" and an average price target of $36.57.

BioAge Labs Profile

BioAge Labs, Inc NASDAQ: BIOA is a clinical-stage biotechnology company focused on developing medicines that target the biological mechanisms of aging. Its research uses human longevity data and proprietary computational biology tools to identify pathways associated with aging-related diseases and to develop potential therapies aimed at extending healthy lifespan and improving physical function.

The company's lead investigational program is azelaprag, also known as BGE-105, an oral small-molecule apelin receptor agonist being studied for its potential to preserve muscle mass and improve physical performance in older adults.

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