Insider Selling: Biosig Technologies (NASDAQ:STEX) Chairman Sells 12,759 Shares of Stock

Key Points

• Chairman Morgan Lee Lekstrom sold 12,759 shares on April 14 at an average price of $1.07 for about $13,652 to cover tax withholding on vested equity, reducing his direct stake to 209,741 shares (a 5.73% decrease).
• Earlier this year Lekstrom amassed roughly 115,500 shares in multiple purchases at $2.50–$3.70 per share, indicating substantial prior insider accumulation despite the small tax-motivated sale.
• STEX trades near $1.11 with a 52-week range of $0.49–$14.11 and a market cap around $201M; the company reported a ($8.23) EPS last quarter and analysts show mixed views (average "Hold" with a $9 consensus target).

Biosig Technologies, Inc. (NASDAQ:STEX - Get Free Report) Chairman Morgan Lee Lekstrom sold 12,759 shares of the firm's stock in a transaction on Tuesday, April 14th. The shares were sold at an average price of $1.07, for a total value of $13,652.13. Following the sale, the chairman directly owned 209,741 shares of the company's stock, valued at $224,422.87. This represents a 5.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Morgan Lee Lekstrom also recently made the following trade(s):

• On Wednesday, February 18th, Morgan Lee Lekstrom bought 20,000 shares of Biosig Technologies stock. The shares were bought at an average price of $2.50 per share, for a total transaction of $50,000.00.
• On Tuesday, February 3rd, Morgan Lee Lekstrom bought 23,500 shares of Biosig Technologies stock. The shares were bought at an average price of $3.06 per share, for a total transaction of $71,910.00.
• On Thursday, January 29th, Morgan Lee Lekstrom bought 2,500 shares of Biosig Technologies stock. The shares were bought at an average price of $3.70 per share, for a total transaction of $9,250.00.
• On Monday, January 26th, Morgan Lee Lekstrom bought 23,000 shares of Biosig Technologies stock. The shares were bought at an average price of $3.30 per share, for a total transaction of $75,900.00.
• On Tuesday, January 27th, Morgan Lee Lekstrom bought 5,500 shares of Biosig Technologies stock. The shares were bought at an average price of $3.12 per share, for a total transaction of $17,160.00.
• On Friday, January 23rd, Morgan Lee Lekstrom bought 41,000 shares of Biosig Technologies stock. The shares were bought at an average price of $3.13 per share, for a total transaction of $128,330.00.

Biosig Technologies Stock Performance

Shares of STEX stock traded up $0.07 during trading hours on Friday, reaching $1.11. 1,969,124 shares of the company were exchanged, compared to its average volume of 1,974,189. Biosig Technologies, Inc. has a fifty-two week low of $0.49 and a fifty-two week high of $14.11. The business has a fifty day moving average price of $1.78. The firm has a market cap of $201.07 million, a P/E ratio of -0.12 and a beta of 1.90.

Biosig Technologies (NASDAQ:STEX - Get Free Report) last announced its quarterly earnings data on Tuesday, March 31st. The company reported ($8.23) EPS for the quarter.

Wall Street Analysts Forecast Growth

STEX has been the subject of a number of research reports. Weiss Ratings initiated coverage on Biosig Technologies in a research report on Friday, January 23rd. They issued a "sell (d-)" rating for the company. Needham & Company LLC lowered their target price on shares of Biosig Technologies from $12.00 to $9.00 and set a "buy" rating for the company in a report on Thursday, April 9th. Finally, Wall Street Zen lowered shares of Biosig Technologies from a "hold" rating to a "strong sell" rating in a report on Sunday, April 5th. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $9.00.

About Biosig Technologies

Biosig Technologies NASDAQ: STEX is a medical technology company focused on developing advanced signal acquisition and processing solutions for cardiac electrophysiology. The company’s work centers on improving the clarity and interpretability of intracardiac signals captured during electrophysiology procedures, with the goal of helping clinicians identify arrhythmogenic substrates and make more informed procedural decisions.

Its primary offering is a signal-processing platform that combines proprietary hardware and software to amplify, filter and display intracardiac electrical activity with reduced noise and distortion.

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