Fred Alger Management LLC Makes New $10 Million Investment in Heartflow, Inc. $HTFL

Fred Alger Management LLC acquired a new stake in shares of Heartflow, Inc. (NASDAQ:HTFL) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 296,999 shares of the company’s stock, valued at approximately $9,997,000. Fred Alger Management LLC owned 0.35% of Heartflow at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. Wellington Management Group LLP purchased a new position in Heartflow during the third quarter valued at $164,263,000. Baillie Gifford & Co. purchased a new stake in Heartflow in the third quarter worth about $101,182,000. Schusterman Interests LLC bought a new position in shares of Heartflow in the third quarter worth about $65,274,000. Vanguard Group Inc. bought a new position in shares of Heartflow in the third quarter worth about $48,871,000. Finally, Capital International Investors bought a new position in shares of Heartflow in the third quarter worth about $43,671,000.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Canaccord Genuity Group reiterated a “buy” rating and set a $40.00 price objective on shares of Heartflow in a research note on Monday, March 9th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Heartflow in a report on Monday, December 29th. Finally, Wells Fargo & Company started coverage on shares of Heartflow in a research report on Wednesday, January 28th. They issued an “overweight” rating and a $38.00 price target for the company. Five analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $38.50.

Insiders Place Their Bets

In related news, CEO John C.M. Farquhar sold 22,562 shares of the business’s stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $27.46, for a total value of $619,552.52. Following the transaction, the chief executive officer directly owned 591,656 shares of the company’s stock, valued at approximately $16,246,873.76. The trade was a 3.67% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Campbell Rogers sold 65,153 shares of Heartflow stock in a transaction on Thursday, February 12th. The shares were sold at an average price of $24.49, for a total transaction of $1,595,596.97. Following the completion of the sale, the insider owned 76,034 shares in the company, valued at approximately $1,862,072.66. This represents a 46.15% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 2,117,674 shares of company stock valued at $59,052,646 in the last 90 days.

Heartflow Stock Up 2.4%

Shares of Heartflow stock opened at $20.98 on Tuesday. The company has a market capitalization of $1.79 billion and a price-to-earnings ratio of -11.59. The stock’s 50-day simple moving average is $27.47 and its 200-day simple moving average is $30.58. Heartflow, Inc. has a 52 week low of $20.13 and a 52 week high of $41.22.

Heartflow Profile

HeartFlow, Inc (NASDAQ: HTFL) is a medical technology company that develops non-invasive diagnostic solutions for coronary artery disease. The company’s core offering translates coronary CT angiography (CTA) data into a patient-specific, three-dimensional physiological model of the coronary arteries. Using advanced image processing and computational modeling, HeartFlow’s analysis estimates fractional flow reserve (FFR) values throughout the coronary tree to identify ischemia-producing lesions without the need for invasive pressure-wire measurements.

HeartFlow’s cloud-based service integrates with clinical workflows: clinicians submit coronary CTA images and receive a detailed, color-coded 3D map and report that highlights lesion-specific FFR values and physiological impact.