BlackRock Inc. Invests $69.83 Million in BioAge Labs, Inc. $BIOA

Key Points

• BlackRock acquired 2.85 million BioAge Labs shares worth approximately $69.83 million, giving it a 6.41% stake in the clinical-stage biotechnology company.
• Analyst sentiment remains generally positive, with six Buy ratings and one Sell rating. BioAge has an average “Moderate Buy” rating and a consensus price target of $36.57.
• BIOA opened at $9.65, well below its 50-day and 200-day moving averages of $17.80 and $18.17. The company reported a quarterly loss of $0.58 per share, though it beat estimates, and generated $2.45 million in revenue.

BlackRock Inc. bought a new stake in BioAge Labs, Inc. (NASDAQ:BIOA - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 2,849,077 shares of the company's stock, valued at approximately $69,831,000. BlackRock Inc. owned about 6.41% of BioAge Labs at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in BIOA. Russell Investments Group Ltd. acquired a new position in BioAge Labs in the third quarter valued at approximately $27,000. CWM LLC raised its holdings in shares of BioAge Labs by 39.9% in the fourth quarter. CWM LLC now owns 3,693 shares of the company's stock valued at $49,000 after purchasing an additional 1,053 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in BioAge Labs by 85.6% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,955 shares of the company's stock worth $54,000 after acquiring an additional 5,976 shares in the last quarter. Walleye Capital LLC acquired a new stake in shares of BioAge Labs in the 2nd quarter valued at approximately $64,000. Finally, Bank of America Corp DE grew its position in shares of BioAge Labs by 46.3% in the 3rd quarter. Bank of America Corp DE now owns 11,119 shares of the company's stock valued at $65,000 after acquiring an additional 3,517 shares during the period.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Wall Street Zen downgraded BioAge Labs from a "hold" rating to a "sell" rating in a report on Sunday, May 17th. Roth Capital reaffirmed a "buy" rating and issued a $25.00 price objective on shares of BioAge Labs in a report on Friday, July 31st. Needham & Company LLC decreased their price objective on shares of BioAge Labs from $50.00 to $35.00 and set a "buy" rating on the stock in a research note on Friday, July 31st. BTIG Research restated a "buy" rating and issued a $40.00 price target on shares of BioAge Labs in a research note on Monday, August 3rd. Finally, Jefferies Financial Group set a $21.00 price objective on BioAge Labs in a research report on Friday, July 31st. Six research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, BioAge Labs presently has an average rating of "Moderate Buy" and an average price target of $36.57.

BioAge Labs Price Performance

Shares of BIOA opened at $9.65 on Monday. The business's fifty day moving average is $17.80 and its 200 day moving average is $18.17. BioAge Labs, Inc. has a 12-month low of $4.55 and a 12-month high of $25.95. The stock has a market cap of $442.94 million, a P/E ratio of -4.05 and a beta of 0.94.

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 return on equity of 28.99% and a negative net margin of 912.26%.The business had revenue of $2.45 million during the quarter. On average, analysts expect that BioAge Labs, Inc. will post -2.45 EPS for the current year.

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.

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