Renaissance Technologies LLC Buys 120,188 Shares of BioAge Labs, Inc. $BIOA

Key Points

• Renaissance Technologies increased its BioAge Labs stake by 653.2%, acquiring 120,188 additional shares to own 138,588 shares worth approximately $2.42 million. Several other institutional investors also initiated or expanded positions during the first quarter.
• BioAge reported a quarterly loss of $0.58 per share, beating analysts’ estimate of a $0.65 loss, while generating $2.45 million in revenue. The company remains unprofitable, with a negative net margin of 912.26%.
• Analyst sentiment is broadly positive, with six Buy ratings and one Sell rating and a consensus price target of $36.57. Shares opened at $11.45, well below the consensus target and their 52-week high of $25.95.

Renaissance Technologies LLC boosted its stake in shares of BioAge Labs, Inc. (NASDAQ:BIOA - Free Report) by 653.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 138,588 shares of the company's stock after acquiring an additional 120,188 shares during the quarter. Renaissance Technologies LLC owned 0.31% of BioAge Labs worth $2,424,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. Arrowstreet Capital Limited Partnership purchased a new stake in BioAge Labs during the 1st quarter valued at $1,537,000. Bank of Nova Scotia bought a new position in shares of BioAge Labs during the first quarter valued at about $180,000. Sei Investments Co. bought a new position in shares of BioAge Labs during the first quarter valued at about $1,091,000. Walleye Capital LLC increased its holdings in BioAge Labs by 12.5% during the 1st quarter. Walleye Capital LLC now owns 151,674 shares of the company's stock valued at $2,653,000 after purchasing an additional 16,879 shares during the period. Finally, Militia Capital Management LLC purchased a new position in BioAge Labs during the 1st quarter valued at about $565,000.

BioAge Labs Stock Performance

BIOA stock opened at $11.45 on Tuesday. The firm has a 50 day moving average price of $19.93 and a 200-day moving average price of $19.11. BioAge Labs, Inc. has a 52-week low of $4.25 and a 52-week high of $25.95. The firm has a market capitalization of $525.55 million, a price-to-earnings ratio of -4.81 and a beta of 0.94.

BioAge Labs (NASDAQ:BIOA - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The company reported ($0.58) earnings per share for the quarter, beating analysts' consensus estimates of ($0.65) by $0.07. The company had revenue of $2.45 million during the quarter. BioAge Labs had a negative return on equity of 28.99% and a negative net margin of 912.26%. As a group, sell-side analysts forecast that BioAge Labs, Inc. will post -2.57 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on BIOA. Roth Capital reiterated a "buy" rating and issued a $25.00 price objective on shares of BioAge Labs in a research report on Friday, July 31st. Weiss Ratings reiterated a "sell (d-)" rating on shares of BioAge Labs in a report on Tuesday, July 21st. BTIG Research reaffirmed a "buy" rating and issued a $40.00 target price on shares of BioAge Labs in a research report on Monday, August 3rd. Needham & Company LLC reduced their price target on shares of BioAge Labs from $50.00 to $35.00 and set a "buy" rating on the stock in a research report on Friday, July 31st. Finally, Jefferies Financial Group set a $21.00 price objective on shares of BioAge Labs in a report on Friday, July 31st. Six analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $36.57.

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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