Mainz Biomed (NASDAQ:MYNZ) Stock Price Down 5.3% – Should You Sell?

Mainz Biomed NV (NASDAQ:MYNZ) shares dropped 5.3% during mid-day trading on Friday . The company traded as low as $2.20 and last traded at $2.33. Approximately 2,188,354 shares changed hands during mid-day trading, an increase of 489% from the average daily volume of 371,589 shares. The stock had previously closed at $2.46.

Wall Street Analysts Forecast Growth

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

Mainz Biomed Trading Down 5.6%

The stock has a fifty day moving average of $1.28 and a 200 day moving average of $1.10. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.43 and a current ratio of 0.52. The company has a market capitalization of $19.93 million, a PE ratio of -0.03 and a beta of 0.31.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Armistice Capital LLC raised its holdings in shares of Mainz Biomed by 96.5% during the 4th quarter. Armistice Capital LLC now owns 775,263 shares of the company’s stock worth $868,000 after acquiring an additional 380,744 shares in the last quarter. Cerity Partners LLC purchased a new stake in shares of Mainz Biomed during the 4th quarter worth approximately $183,000. Finally, Steward Partners Investment Advisory LLC raised its holdings in shares of Mainz Biomed by 200.0% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 30,000 shares of the company’s stock worth $34,000 after acquiring an additional 20,000 shares in the last quarter.

About Mainz Biomed

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.