Braveheart Bio, Inc. (NASDAQ:BRVE) Sees Significant Growth in Short Interest

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

Insider Activity at Braveheart Bio

In other Braveheart Bio news, Director Erez Chimovits purchased 1,940,000 shares of the firm’s stock in a transaction on Friday, August 7th. The stock was acquired at an average price of $18.00 per share, for a total transaction of $34,920,000.00. Following the purchase, the director owned 11,901,826 shares of the company’s stock, valued at $214,232,868. This trade represents a 19.47% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Orbimed Advisors Llc bought 1,940,000 shares of the company’s stock in a transaction dated Friday, August 7th. The stock was bought at an average price of $18.00 per share, for a total transaction of $34,920,000.00. Following the acquisition, the director directly owned 11,901,826 shares of the company’s stock, valued at approximately $214,232,868. This represents a 19.47% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders acquired a total of 8,751,942 shares of company stock valued at $157,534,956 over the last 90 days.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on BRVE. The Goldman Sachs Group assumed 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. Wall Street Zen upgraded shares of Braveheart Bio to a “hold” rating in a research report on Saturday, August 15th. Jefferies Financial Group assumed coverage on shares of Braveheart Bio in a research report on Monday, August 31st. They set a “buy” rating and a $48.00 price target on the stock. TD Cowen began coverage on Braveheart Bio in a report on Monday, August 31st. They issued a “buy” rating on the stock. Finally, Cantor Fitzgerald initiated coverage on shares of Braveheart Bio in a research note on Monday, August 31st. They issued an “overweight” rating and a $40.00 target price on the stock. Five equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $45.25.

Braveheart Bio Stock Up 0.2%

Shares of BRVE stock opened at $20.24 on Thursday. Braveheart Bio has a 12 month low of $20.00 and a 12 month high of $32.00.

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

Braveheart Bio Company Profile

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.