Braveheart Bio, Inc. (NASDAQ:BRVE) Shares Shorted: Short Interest Up 76.1% in September

Braveheart Bio, Inc. (NASDAQ:BRVE) was the target of a significant growth in short interest in the month of September. As of September 15th, there was short interest totaling 2,461,086 shares, a growth of 76.1% from the August 31st total of 1,397,189 shares. Based on an average trading volume of 328,415 shares, the days-to-cover ratio is currently 7.5 days. Approximately 2.7% of the shares of the stock are short sold.

Braveheart Bio Stock Down 9.6%

NASDAQ:BRVE traded down $2.14 on Wednesday, hitting $20.20. 967,471 shares of the company’s stock traded hands, compared to its average volume of 486,781. Braveheart Bio has a 1 year low of $20.00 and a 1 year high of $32.00.

Braveheart Bio (NASDAQ:BRVE) last posted its quarterly earnings results on Tuesday, September 8th. The company reported ($2.51) EPS for the quarter, missing the consensus estimate of ($0.25) by ($2.26). As a group, research analysts expect that Braveheart Bio will post -1.48 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have commented on BRVE shares. Wall Street Zen upgraded shares of Braveheart Bio to a “hold” rating in a research report on Saturday, August 15th. TD Cowen initiated coverage on Braveheart Bio in a research note on Monday, August 31st. They set a “buy” rating for the company. The Goldman Sachs Group initiated coverage on Braveheart Bio in a research note on Monday, August 31st. They issued a “buy” rating and a $48.00 price target on the stock. Stifel Nicolaus began coverage on shares of Braveheart Bio in a research report on Monday, August 31st. They issued a “buy” rating and a $45.00 price target for the company. Finally, Cantor Fitzgerald started coverage on shares of Braveheart Bio in a research report on Monday, August 31st. They set an “overweight” rating and a $40.00 price objective on the stock. Five equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $45.25.

Insider Buying and Selling at Braveheart Bio

In other news, Director Erez Chimovits purchased 1,940,000 shares of the stock in a transaction dated Friday, August 7th. The shares were bought at an average cost of $18.00 per share, for a total transaction of $34,920,000.00. Following the transaction, the director owned 11,901,826 shares in the company, valued at $214,232,868. This trade represents a 19.47% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Orbimed Advisors Llc acquired 1,940,000 shares of the company’s stock in a transaction dated Friday, August 7th. The stock was purchased at an average cost of $18.00 per share, for a total transaction of $34,920,000.00. Following the purchase, the director directly owned 11,901,826 shares in the company, valued at approximately $214,232,868. This represents a 19.47% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders have 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.