Mainz Biomed (NASDAQ:MYNZ) Trading 12.4% Higher – What’s Next?

Shares of Mainz Biomed NV (NASDAQ:MYNZ) traded up 12.4% during mid-day trading on Monday . The stock traded as high as $1.92 and last traded at $1.63. 65,779,351 shares changed hands during trading, an increase of 17,602% from the average daily volume of 371,589 shares. The stock had previously closed at $1.45.

Analysts Set New Price Targets

Separately, Maxim Group downgraded Mainz Biomed from a “strong-buy” rating to a “hold” rating in a research report on Friday, March 6th. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Mainz Biomed currently has a consensus rating of “Reduce”.

Mainz Biomed Stock Performance

The stock’s fifty day simple moving average is $1.72 and its two-hundred day simple moving average is $1.18. The company has a market cap of $14.22 million, a price-to-earnings ratio of -0.02 and a beta of 0.31. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.43 and a current ratio of 0.52.

Institutional Investors Weigh In On Mainz Biomed

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC lifted its stake in shares of Mainz Biomed by 200.0% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 30,000 shares of the company’s stock valued at $34,000 after purchasing an additional 20,000 shares in the last quarter. Armistice Capital LLC raised its holdings in Mainz Biomed by 45.0% in the second quarter. Armistice Capital LLC now owns 285,000 shares of the company’s stock valued at $402,000 after buying an additional 88,400 shares during the period. Finally, Cerity Partners LLC purchased a new position in Mainz Biomed in the fourth quarter valued at approximately $183,000.

Mainz Biomed Company Profile

Mainz Biomed AG is a molecular diagnostics company headquartered in Mainz, Germany, specializing in epigenetics-based tests for the early detection of cancer. The company develops proprietary assays that analyze DNA methylation patterns and other epigenetic biomarkers to identify malignancies at a stage when treatment outcomes are most favorable. Mainz Biomed’s technology platform is designed to offer non-invasive, easy-to-use screening solutions that can be deployed both in laboratory settings and at point of care.

The company’s flagship product, ColoAlert®, is a stool-based colorectal cancer screening test that combines DNA methylation markers with bacterial gene targets to improve sensitivity and specificity for detecting advanced adenomas and early-stage colorectal cancer.