HeartSciences (NASDAQ:HSCS) Trading 11.6% Higher – Here’s Why

HeartSciences Inc. (NASDAQ:HSCS)’s share price rose 11.6% on Friday . The stock traded as high as $2.87 and last traded at $2.80. Approximately 145,570 shares changed hands during mid-day trading, an increase of 78% from the average session volume of 81,638 shares. The stock had previously closed at $2.51.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of HeartSciences in a report on Wednesday, June 24th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $8.00.

HeartSciences Stock Up 11.6%

The firm has a 50 day simple moving average of $2.39 and a two-hundred day simple moving average of $2.35. The stock has a market capitalization of $10.92 million, a P/E ratio of -0.71 and a beta of 1.79.

HeartSciences (NASDAQ:HSCS) last posted its quarterly earnings results on Thursday, July 23rd. The company reported ($0.88) EPS for the quarter, missing analysts’ consensus estimates of ($0.66) by ($0.22). On average, research analysts predict that HeartSciences Inc. will post -3.04 earnings per share for the current year.

Hedge Funds Weigh In On HeartSciences

An institutional investor recently bought a new stake in HeartSciences stock. Geode Capital Management LLC bought a new stake in HeartSciences Inc. (NASDAQ:HSCS) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 11,599 shares of the company’s stock, valued at approximately $43,000. Geode Capital Management LLC owned approximately 0.51% of HeartSciences at the end of the most recent reporting period. 17.24% of the stock is owned by hedge funds and other institutional investors.

HeartSciences Company Profile

HeartSciences, Inc (NASDAQ: HSCS) is a medical device company focused on the development and commercialization of advanced, non‐invasive cardiac diagnostic technologies. The company’s flagship product, MyoVista, is a high‐fidelity electrocardiograph (ECG) designed to detect subtle changes in cardiac function that may indicate myocardial ischemia or left ventricular dysfunction. By leveraging high‐frequency wavelet analysis within the QRS complex, MyoVista provides clinicians with enhanced visualization and analytical capabilities that extend beyond those of standard ECG systems.

HeartSciences supports the MyoVista system with an integrated software suite that automates data analysis and report generation, facilitating seamless integration into existing clinical workflows.