Braveheart Bio (NASDAQ:BRVE) Hits New 1-Year Low – Here’s Why

Shares of Braveheart Bio, Inc. (NASDAQ:BRVE) hit a new 52-week low during trading on Tuesday . The company traded as low as $24.17 and last traded at $24.3650, with a volume of 183470 shares trading hands. The stock had previously closed at $25.02.

Analysts Set New Price Targets

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

Braveheart Bio Stock Performance

Braveheart Bio (NASDAQ:BRVE) last posted its quarterly earnings data on Tuesday, September 8th. The company reported ($2.51) EPS for the quarter, missing analysts’ consensus estimates of ($0.25) by ($2.26). Research analysts predict that Braveheart Bio, Inc. will post -1.48 earnings per share for the current fiscal year.

Insider Activity at Braveheart Bio

In other news, major shareholder Bio Fund Iv L.P. Ah acquired 1,100,000 shares of the company’s stock in a transaction dated Friday, August 7th. The shares were bought at an average price of $18.00 per share, with a total value of $19,800,000.00. Following the purchase, the insider owned 10,232,420 shares of the company’s stock, valued at approximately $184,183,560. This represents a 12.05% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Orbimed Advisors Llc acquired 1,940,000 shares of the business’s stock in a transaction dated Friday, August 7th. The stock was purchased at an average price of $18.00 per share, with a total value of $34,920,000.00. Following the acquisition, the director owned 11,901,826 shares of the company’s stock, valued at approximately $214,232,868. This trade represents a 19.47% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders acquired 8,751,942 shares of company stock worth $157,534,956 in the last quarter.

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.