Braveheart Bio (NASDAQ:BRVE) Shares Down 6.6% – Time to Sell?

Braveheart Bio, Inc. (NASDAQ:BRVE)’s stock price was down 6.6% during trading on Monday . The company traded as low as $27.48 and last traded at $27.26. Approximately 151,025 shares traded hands during trading, a decline of 63% from the average session volume of 410,951 shares. The stock had previously closed at $29.20.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Cantor Fitzgerald assumed coverage on Braveheart Bio in a report on Monday, August 31st. They set an “overweight” rating and a $40.00 target price for the company. Stifel Nicolaus assumed coverage on Braveheart Bio in a research report on Monday, August 31st. They set a “buy” rating and a $45.00 price objective for the company. Jefferies Financial Group initiated coverage on Braveheart Bio in a research report on Monday, August 31st. They issued a “buy” rating and a $48.00 target price on the stock. TD Cowen started coverage on Braveheart Bio in a research report on Monday, August 31st. They set a “buy” rating for the company. Finally, Wall Street Zen upgraded shares of Braveheart Bio to a “hold” rating in a report on Saturday, August 15th. Five investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $45.25.

Braveheart Bio Trading Down 13.6%

Braveheart Bio (NASDAQ:BRVE) last released 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). Equities research analysts forecast 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 business’s stock in a transaction on Friday, August 7th. The stock was purchased at an average price of $18.00 per share, for a total transaction of $34,920,000.00. Following the completion of the purchase, the director directly owned 11,901,826 shares in the company, valued at $214,232,868. The trade was a 19.47% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David Lubner acquired 55,555 shares of the stock in a transaction dated Friday, August 7th. The shares were purchased at an average price of $18.00 per share, for a total transaction of $999,990.00. Following the completion of the purchase, the director directly owned 55,555 shares in the company, valued at $999,990. The trade was a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have acquired a total of 8,751,942 shares of company stock worth $157,534,956 in the last quarter.

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.