Braveheart Bio (NASDAQ:BRVE) Shares Up 8.1% – Here’s Why

Braveheart Bio, Inc. (NASDAQ:BRVE)’s share price traded up 8.1% during trading on Thursday . The stock traded as high as $22.47 and last traded at $23.1990. Approximately 194,514 shares were traded during trading, a decline of 58% from the average session volume of 462,762 shares. The stock had previously closed at $21.46.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Cantor Fitzgerald began coverage on shares of Braveheart Bio in a research note on Monday, August 31st. They set an “overweight” rating and a $40.00 target price for the company. Jefferies Financial Group started coverage on Braveheart Bio in a report on Monday, August 31st. They issued a “buy” rating and a $48.00 price objective for the company. The Goldman Sachs Group began coverage on Braveheart Bio in a research report on Monday, August 31st. They set a “buy” rating and a $48.00 price objective for the company. Zacks Research upgraded Braveheart Bio to a “hold” rating in a research note on Tuesday, September 1st. Finally, Stifel Nicolaus started coverage on shares of Braveheart Bio in a research note on Monday, August 31st. They issued a “buy” rating and a $45.00 price objective on the stock. Five investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $45.25.

Braveheart Bio Stock Performance

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

Insider Buying and Selling

In other news, Director Erez Chimovits purchased 1,940,000 shares of the company’s stock in a transaction that occurred on Friday, August 7th. The stock was bought at an average cost of $18.00 per share, with a total value of $34,920,000.00. Following the completion of the purchase, the director owned 11,901,826 shares in the company, valued at approximately $214,232,868. This represents a 19.47% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder Growth Opportunities F. Forbion acquired 1,680,000 shares of Braveheart Bio stock in a transaction on Friday, August 7th. The stock was purchased at an average cost of $18.00 per share, for a total transaction of $30,240,000.00. Following the purchase, the insider owned 10,185,478 shares in the company, valued at approximately $183,338,604. The trade was a 19.75% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders bought 8,751,942 shares of company stock valued at $157,534,956 in the last ninety days.

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.