Legacy Wealth Managment LLC ID Purchases 2,613,335 Shares of Biosig Technologies, Inc. $BSGM

Key Points

• Legacy Wealth Management LLC significantly increased its stake in Biosig Technologies, purchasing an additional 2,613,335 shares, bringing its total holdings to over 6.2 million shares, making up 2.6% of its portfolio.
• Ascendiant Capital Markets has raised its price target for Biosig Technologies from $2.50 to $10.00, reflecting a strong Buy rating from analysts on Wall Street.
• Biosig Technologies reported a quarterly loss of ($0.74) per share, missing the analysts' expectations, with forecasts indicating potential earnings of -0.88 EPS for the current fiscal year.

Legacy Wealth Managment LLC ID grew its position in shares of Biosig Technologies, Inc. (NASDAQ:BSGM - Free Report) by 72.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,216,508 shares of the company's stock after purchasing an additional 2,613,335 shares during the quarter. Biosig Technologies makes up 2.6% of Legacy Wealth Managment LLC ID's holdings, making the stock its 8th biggest holding. Legacy Wealth Managment LLC ID owned approximately 25.63% of Biosig Technologies worth $3,737,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. PFG Investments LLC boosted its stake in shares of Biosig Technologies by 43.5% during the first quarter. PFG Investments LLC now owns 158,286 shares of the company's stock valued at $95,000 after purchasing an additional 48,000 shares in the last quarter. Millennium Management LLC bought a new position in shares of Biosig Technologies during the fourth quarter worth about $228,000. Finally, Cambridge Investment Research Advisors Inc. raised its position in shares of 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 last quarter. 7.16% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Biosig Technologies Stock Performance

Shares of BSGM opened at $4.41 on Friday. The business has a 50-day moving average of $5.48 and a 200-day moving average of $3.60. Biosig Technologies, Inc. has a 1 year low of $0.23 and a 1 year high of $14.11.

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

Biosig Technologies Profile

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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