Bank of New York Mellon Corp Purchases New Position in BioAge Labs, Inc. $BIOA

Key Points

• Bank of New York Mellon acquired 107,332 BioAge Labs shares worth approximately $2.63 million, joining several institutional investors that have recently increased or initiated positions.
• BioAge reported a quarterly loss of $0.58 per share, beating estimates of a $0.65 loss, while generating $2.45 million in revenue. Analysts expect a full-year loss of $2.45 per share.
• BioAge shares opened at $9.59, well below their 52-week high of $25.95. Despite mixed ratings, the stock carries a “Moderate Buy” consensus and an average analyst price target of $36.57.

Bank of New York Mellon Corp purchased a new stake in BioAge Labs, Inc. (NASDAQ:BIOA - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 107,332 shares of the company's stock, valued at approximately $2,631,000. Bank of New York Mellon Corp owned 0.24% of BioAge Labs at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of BIOA. Janus Henderson Group PLC lifted its stake in shares of BioAge Labs by 411.8% in the 1st quarter. Janus Henderson Group PLC now owns 2,094,270 shares of the company's stock valued at $36,597,000 after purchasing an additional 1,685,063 shares during the period. Adage Capital Partners GP L.L.C. purchased a new position in BioAge Labs in the fourth quarter valued at $13,892,000. Walleye Capital LLC purchased a new position in BioAge Labs in the second quarter valued at $8,686,000. Stempoint Capital LP purchased a new stake in shares of BioAge Labs during the 1st quarter worth about $5,923,000. Finally, Millennium Management LLC boosted its stake in shares of BioAge Labs by 749.8% during the 3rd quarter. Millennium Management LLC now owns 306,552 shares of the company's stock worth $1,803,000 after acquiring an additional 270,479 shares in the last quarter.

BioAge Labs Price Performance

Shares of BioAge Labs stock opened at $9.59 on Tuesday. The firm has a market cap of $440.18 million, a PE ratio of -4.03 and a beta of 0.94. The business's fifty day simple moving average is $16.19 and its 200-day simple moving average is $17.74. BioAge Labs, Inc. has a 52 week low of $4.58 and a 52 week high of $25.95.

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

Analyst Ratings Changes

BIOA has been the topic of a number of analyst reports. Roth Capital restated a "buy" rating and set a $25.00 target price on shares of BioAge Labs in a research report on Friday, July 31st. Needham & Company LLC lowered their price target on BioAge Labs from $50.00 to $35.00 and set a "buy" rating on the stock in a research report on Friday, July 31st. Wall Street Zen lowered BioAge Labs from a "sell" rating to a "strong sell" rating in a report on Saturday. Jefferies Financial Group set a $21.00 price objective on BioAge Labs in a research report on Friday, July 31st. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of BioAge Labs in a research note on Tuesday, July 21st. Six analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, BioAge Labs presently has a consensus rating of "Moderate Buy" and an average target price of $36.57.

About BioAge Labs

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.

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