Braveheart Bio, Inc.’s (NASDAQ:BRVE) Quiet Period Set To End on September 15th

Braveheart Bio’s (NASDAQ:BRVE) quiet period will expire on Tuesday, September 15th. Braveheart Bio had issued 21,250,000 shares in its IPO on August 6th. The total size of the offering was $382,500,000 based on an initial share price of $18.00. During Braveheart Bio’s quiet period, underwriters and any insiders that worked on the IPO are prevented from issuing any research reports for the company because of SEC regulations. Following the expiration of the company’s quiet period, the brokerages that served as underwriters will likely initiate research coverage on the company.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on BRVE. Wall Street Zen upgraded Braveheart Bio to a “hold” rating in a report on Saturday, August 15th. TD Cowen started coverage on Braveheart Bio in a report on Monday, August 31st. They issued a “buy” rating on the stock. Cantor Fitzgerald initiated coverage on shares of Braveheart Bio in a research report on Monday, August 31st. They issued an “overweight” rating and a $40.00 price target for the company. The Goldman Sachs Group started coverage on shares of Braveheart Bio in a research note on Monday, August 31st. They set a “buy” rating and a $48.00 price target for the company. Finally, Zacks Research upgraded shares of Braveheart Bio to a “hold” rating in a report on Tuesday, September 1st. Five investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $45.25.

Braveheart Bio Stock Down 1.7%

Shares of BRVE opened at $28.91 on Thursday. Braveheart Bio has a 12 month low of $24.31 and a 12 month high of $32.00.

Braveheart Bio (NASDAQ:BRVE) last announced its quarterly earnings data on Tuesday, September 8th. The company reported ($2.51) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.25) by ($2.26). On average, equities analysts expect that Braveheart Bio will post -0.98 EPS for the current fiscal year.

Insider Buying and Selling at Braveheart Bio

In related news, Director Orbimed Advisors Llc acquired 1,940,000 shares of the stock in a transaction on Friday, August 7th. The shares were acquired at an average price of $18.00 per share, with a total value of $34,920,000.00. Following the completion of the transaction, the director owned 11,901,826 shares in the company, valued at approximately $214,232,868. The trade was a 19.47% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Bio Fund Iv L.P. Ah bought 1,100,000 shares of the company’s stock in a transaction on Friday, August 7th. The stock was bought at an average price of $18.00 per share, for a total transaction of $19,800,000.00. Following the completion of the purchase, the insider owned 10,232,420 shares of the company’s stock, valued at approximately $184,183,560. The trade was a 12.05% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have bought a total of 8,751,942 shares of company stock valued at $157,534,956 in the last three months.

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.