Heartflow (NASDAQ:HTFL) Trading Down 7.4% After Insider Selling

Heartflow, Inc. (NASDAQ:HTFL) fell 7.4% during trading on Tuesday following insider selling activity. The stock traded as low as $26.73 and last traded at $27.13. 1,594,640 shares were traded during trading, an increase of 15% from the average session volume of 1,386,446 shares. The stock had previously closed at $29.29.

Specifically, Director Julie A. Cullivan sold 8,000 shares of the firm’s stock in a transaction dated Thursday, February 5th. The stock was sold at an average price of $27.32, for a total value of $218,560.00. Following the transaction, the director directly owned 36,413 shares of the company’s stock, valued at $994,803.16. This trade represents a 18.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Bain Capital Life Sciences Inv sold 2,000,000 shares of the company’s stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $28.05, for a total value of $56,100,000.00. Following the completion of the sale, the insider directly owned 10,448,158 shares of the company’s stock, valued at $293,070,831.90. The trade was a 16.07% decrease in their position. The disclosure for this sale is available in the SEC filing.

Analyst Ratings Changes

Several brokerages recently commented on HTFL. Canaccord Genuity Group raised their target price on Heartflow from $39.00 to $40.00 and gave the company a “buy” rating in a report on Thursday, November 13th. Wells Fargo & Company began coverage on shares of Heartflow in a research note on Wednesday, January 28th. They set an “overweight” rating and a $38.00 price objective on the stock. Weiss Ratings restated a “sell (d)” rating on shares of Heartflow in a research note on Monday, December 29th. Stifel Nicolaus lifted their price target on shares of Heartflow from $35.00 to $40.00 and gave the stock a “buy” rating in a research note on Thursday, November 13th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Heartflow from $36.00 to $40.00 and gave the stock an “overweight” rating in a report on Thursday, November 13th. Five analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $38.50.

Heartflow Stock Performance

The company has a market cap of $2.31 billion and a price-to-earnings ratio of -14.96. The firm’s 50 day moving average price is $30.31.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Wellington Management Group LLP bought a new stake in Heartflow in the 3rd quarter valued at about $164,263,000. Baillie Gifford & Co. acquired a new stake in shares of Heartflow in the third quarter valued at approximately $101,182,000. Schusterman Interests LLC bought a new stake in shares of Heartflow during the third quarter valued at approximately $65,274,000. Vanguard Group Inc. acquired a new position in shares of Heartflow during the third quarter worth approximately $48,871,000. Finally, Capital International Investors acquired a new stake in Heartflow in the 3rd quarter valued at approximately $43,671,000.

Heartflow Company Profile

HeartFlow, Inc (NASDAQ: HTFL) is a medical technology company that develops non-invasive diagnostic solutions for coronary artery disease. The company’s core offering translates coronary CT angiography (CTA) data into a patient-specific, three-dimensional physiological model of the coronary arteries. Using advanced image processing and computational modeling, HeartFlow’s analysis estimates fractional flow reserve (FFR) values throughout the coronary tree to identify ischemia-producing lesions without the need for invasive pressure-wire measurements.

HeartFlow’s cloud-based service integrates with clinical workflows: clinicians submit coronary CTA images and receive a detailed, color-coded 3D map and report that highlights lesion-specific FFR values and physiological impact.