Braveheart Bio (NASDAQ:BRVE) Stock Price Down 5.2% – Here’s What Happened

Braveheart Bio, Inc. (NASDAQ:BRVE)’s stock price traded down 5.2% on Monday . The company traded as low as $25.94 and last traded at $26.02. Approximately 150,202 shares were traded during mid-day trading, a decline of 53% from the average session volume of 318,614 shares. The stock had previously closed at $27.44.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. The Goldman Sachs Group started coverage on shares of Braveheart Bio in a research report on Monday. They set a “buy” rating and a $48.00 target price on the stock. TD Cowen began coverage on shares of Braveheart Bio in a research note on Monday. They set a “buy” rating on the stock. Cantor Fitzgerald initiated coverage on shares of Braveheart Bio in a research note on Monday. They issued an “overweight” rating and a $40.00 price objective for the company. Stifel Nicolaus began coverage on Braveheart Bio in a report on Monday. They set a “buy” rating and a $45.00 target price for the company. Finally, Wall Street Zen raised Braveheart Bio to a “hold” rating in a research report on Saturday, August 15th. Five research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $45.25.

Braveheart Bio Stock Down 5.0%

Insider Buying and Selling at Braveheart Bio

In other Braveheart Bio news, major shareholder Bio Fund Iv L.P. Ah purchased 1,100,000 shares of Braveheart Bio stock in a transaction dated Friday, August 7th. The shares were acquired at an average cost of $18.00 per share, with a total value of $19,800,000.00. Following the completion of the transaction, the insider owned 10,232,420 shares in the company, valued at approximately $184,183,560. This trade represents a 12.05% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Growth Opportunities F. Forbion acquired 1,920,000 shares of the firm’s stock in a transaction dated Friday, August 7th. The shares were acquired at an average price of $18.00 per share, with a total value of $34,560,000.00. Following the acquisition, the insider owned 11,640,546 shares in the company, valued at approximately $209,529,828. The trade was a 19.75% increase in their position. The SEC filing for this purchase provides additional information. In the last 90 days, insiders acquired 8,751,942 shares of company stock valued at $157,534,956.

About Braveheart Bio

We are a clinical‑stage biopharmaceutical company focused on developing therapies for patients with hypertrophic cardiomyopathy (“HCM”) and other serious cardiovascular diseases. Our lead product candidate, BHB‑1893, is a next-generation oral small‑molecule cardiac myosin inhibitor (“CMI”), that we are developing for the treatment of obstructive HCM (“oHCM”) and non‑obstructive HCM (“nHCM”). Our goal is to improve the treatment options for these patients by enhancing speed of onset, depth of gradient response, systolic safety, and reversibility, and reducing prescribing complexity.