Mainz Biomed (NASDAQ:MYNZ) Trading Up 10.6% – Here’s Why

Mainz Biomed NV (NASDAQ:MYNZ) shares rose 10.6% during mid-day trading on Tuesday . The stock traded as high as $1.58 and last traded at $1.57. Approximately 1,364,910 shares traded hands during mid-day trading, an increase of 267% from the average daily volume of 371,589 shares. The stock had previously closed at $1.42.

Mainz Biomed Price Performance

The company has a current ratio of 0.52, a quick ratio of 0.43 and a debt-to-equity ratio of 0.44. The business’s fifty day moving average is $1.35 and its 200 day moving average is $1.24. The firm has a market capitalization of $14.22 million, a P/E ratio of -0.02 and a beta of 0.31.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in MYNZ. Armistice Capital LLC increased its holdings in shares of 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 in the last quarter. Cerity Partners LLC acquired a new stake in shares of Mainz Biomed during the 4th quarter valued at $183,000. Finally, Steward Partners Investment Advisory LLC lifted its position 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 valued at $34,000 after acquiring an additional 20,000 shares during the last quarter.

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.