Biostage, Inc. (NASDAQ:BSTG) saw a significant decline in short interest in September. As of September 29th, there was short interest totalling 2,433,174 shares, a decline of 35.5% from the September 15th total of 3,771,941 shares. Based on an average daily trading volume, of 443,286 shares, the short-interest ratio is currently 5.5 days.

In other news, insider Saverio Lafrancesca bought 100,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 24th. The shares were bought at an average cost of $0.37 per share, for a total transaction of $37,000.00. Following the completion of the transaction, the insider now owns 293,998 shares of the company’s stock, valued at $108,779.26. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 4.30% of the stock is currently owned by insiders.

An institutional investor recently raised its position in Biostage stock. Vanguard Group Inc. increased its position in shares of Biostage, Inc. (NASDAQ:BSTG) by 4.0% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 773,820 shares of the biotechnology company’s stock after buying an additional 29,902 shares during the quarter. Vanguard Group Inc. owned about 2.08% of Biostage worth $319,000 at the end of the most recent reporting period. 7.12% of the stock is owned by institutional investors.

Shares of Biostage (BSTG) opened at 0.0675 on Thursday. The stock’s market capitalization is $2.63 million. The company has a 50 day moving average price of $0.27 and a 200-day moving average price of $0.34. Biostage has a 52-week low of $0.06 and a 52-week high of $1.42.

Biostage (NASDAQ:BSTG) last released its earnings results on Monday, August 14th. The biotechnology company reported ($0.10) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.07) by ($0.03). On average, analysts predict that Biostage will post ($0.42) earnings per share for the current fiscal year.

Separately, Maxim Group reiterated a “hold” rating on shares of Biostage in a research report on Monday, August 14th.

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Biostage Company Profile

Biostage, Inc, formerly Harvard Apparatus Regenerative Technology, Inc, is a biotechnology company. The Company is engaged in developing bioengineered organ implants based on its Cellframe technology. Its Cellframe technology consists of a biocompatible scaffold that is seeded with the recipient’s own cells.

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