Stereotaxis (NYSEAMERICAN:STXS) Shares Down 6.1% - What's Next?

Key Points

• Stereotaxis shares fell 6.1% on Friday, trading as low as $1.48 before closing at $1.55, with volume surging to more than 5.6 million shares.
• Despite the drop, analyst sentiment remains positive: Piper Sandler kept an overweight rating and Citi reiterated market outperform, with a consensus target price of $3.88.
• The company, which develops robotic magnetic navigation systems for electrophysiology procedures, has a market cap of about $151.8 million and 45.35% of shares are held by institutional investors.

Stereotaxis Inc. (NYSEAMERICAN:STXS - Get Free Report)'s stock price fell 6.1% on Friday . The stock traded as low as $1.48 and last traded at $1.55. Approximately 5,670,280 shares were traded during trading, an increase of 570% from the average session volume of 846,499 shares. The stock had previously closed at $1.65.

Analysts Set New Price Targets

STXS has been the subject of several analyst reports. Piper Sandler reissued an "overweight" rating and issued a $3.50 target price (down from $4.00) on shares of Stereotaxis in a research note on Wednesday, May 13th. Citigroup reiterated a "market outperform" rating on shares of Stereotaxis in a research note on Wednesday, June 3rd. Four equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Stereotaxis has an average rating of "Buy" and a consensus target price of $3.88.

Stereotaxis Trading Down 6.1%

The company has a market capitalization of $151.79 million, a P/E ratio of -6.46 and a beta of 1.34. The company has a 50 day moving average price of $1.81 and a 200 day moving average price of $2.01.

Hedge Funds Weigh In On Stereotaxis

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Rhumbline Advisers raised its holdings in Stereotaxis by 223.7% in the 2nd quarter. Rhumbline Advisers now owns 148,913 shares of the company's stock valued at $316,000 after acquiring an additional 102,916 shares during the period. Qube Research & Technologies Ltd acquired a new stake in Stereotaxis during the third quarter worth approximately $295,000. Price T Rowe Associates Inc. MD boosted its holdings in shares of Stereotaxis by 12.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 95,221 shares of the company's stock worth $220,000 after acquiring an additional 10,235 shares during the period. Bank of America Corp DE boosted its holdings in shares of Stereotaxis by 12.0% during the third quarter. Bank of America Corp DE now owns 63,114 shares of the company's stock worth $196,000 after acquiring an additional 6,742 shares during the period. Finally, Boothbay Fund Management LLC bought a new stake in shares of Stereotaxis during the third quarter worth approximately $54,000. 45.35% of the stock is owned by institutional investors.

About Stereotaxis

Stereotaxis, Inc is a medical device company that develops and commercializes robotic magnetic navigation systems for use in electrophysiology procedures. Its core technology leverages precisely controlled magnetic fields to guide ultra-thin, magnetically enabled catheters through the vascular system, allowing physicians to perform complex cardiac ablation and diagnostic procedures with enhanced precision and stability. This platform aims to reduce procedure times and radiation exposure for both patients and clinical staff.

The company's flagship offering, the Niobe Magnetic Navigation System, integrates with a variety of catheter types and electrophysiology mapping systems to support treatment of arrhythmias such as atrial fibrillation and ventricular tachycardia.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.