HeartBeam (NASDAQ:BEAT) Announces Earnings Results, Misses Expectations By $0.01 EPS

HeartBeam (NASDAQ:BEAT) announced its earnings results on Thursday. The medical research company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.01), FiscalAI reports.

Here are the key takeaways from HeartBeam’s conference call:

• Heart attack detection regulatory progress: HeartBeam submitted an FDA pre-submission for a 510(k) pathway on the AIMIGo heart attack detection indication and expects FDA feedback within 75 days. Management said a pivotal trial could potentially begin before year-end, although the required size and design remain uncertain.
• Clinical studies are advancing quickly: The ALIGN-ACS pilot enrolled 134 emergency-room patients in under four months, with results accepted for presentation at the TCT cardiology conference. The 500-patient HEADSTART-ACS study in Indonesia has surpassed 50% enrollment in less than three months, while a roughly 50-patient patch study is also enrolling ahead of schedule.
• Early commercial rollout is gaining traction: HeartBeam has agreements across New York, Dallas, South Florida, and Southern California, with initial orders shipped and patients being onboarded through concierge practices. Management is refining an intake-based workflow and expects order activity to increase toward the end of Q3, though current signed agreements cover only thousands of patients.
• Cost controls extend the cash runway: Q2 operating cash use declined to $3.3 million, and management expects quarterly operating cash outflow to fall below $2.5 million by Q4, with full-year 2026 operating cash outflows below $14 million. Cash, cash equivalents, and restricted cash totaled $8.8 million at June 30, extending the runway further into 2027, though a pivotal trial could increase spending.
• Platform expansion remains longer term: The company completed a working prototype of its 12-lead patch and highlighted future patent efforts involving acoustic sensing and fluid monitoring for potential heart-valve and congestive-heart-failure applications. These opportunities are not yet commercialized and add further development and regulatory uncertainty.

HeartBeam Stock Performance

HeartBeam stock traded up $0.02 during trading on Thursday, reaching $0.59. The company had a trading volume of 821,979 shares, compared to its average volume of 1,096,464. HeartBeam has a 12-month low of $0.48 and a 12-month high of $4.00. The stock’s 50 day moving average price is $0.63 and its two-hundred day moving average price is $0.99. The firm has a market capitalization of $32.74 million, a price-to-earnings ratio of -1.05 and a beta of -0.78.

Hedge Funds Weigh In On HeartBeam

A number of hedge funds have recently made changes to their positions in BEAT. Virtu Financial LLC acquired a new stake in shares of HeartBeam in the fourth quarter worth $70,000. State Street Corp lifted its holdings in shares of HeartBeam by 60.1% during the 4th quarter. State Street Corp now owns 125,473 shares of the medical research company’s stock valued at $301,000 after acquiring an additional 47,100 shares in the last quarter. Jane Street Group LLC acquired a new position in shares of HeartBeam during the 4th quarter valued at $55,000. Insigneo Advisory Services LLC purchased a new stake in HeartBeam during the 4th quarter worth $74,000. Finally, CIBC Private Wealth Group LLC purchased a new stake in HeartBeam during the 4th quarter worth $26,000. Institutional investors and hedge funds own 7.77% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. D. Boral Capital lowered HeartBeam from a “buy” rating to a “hold” rating in a research note on Monday, April 20th. Benchmark reduced their target price on shares of HeartBeam from $8.00 to $5.00 and set a “speculative buy” rating on the stock in a report on Friday, May 15th. Wall Street Zen raised shares of HeartBeam from a “strong sell” rating to a “sell” rating in a research note on Saturday, May 16th. HC Wainwright lowered their price target on shares of HeartBeam from $5.50 to $2.50 and set a “buy” rating for the company in a report on Friday, May 22nd. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of HeartBeam in a research report on Thursday, July 2nd. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, HeartBeam has a consensus rating of “Moderate Buy” and a consensus target price of $4.00.

HeartBeam Company Profile

BioTelemetry, Inc, a remote medical technology company, provides remote cardiac monitoring, remote blood glucose monitoring, centralized core laboratory services for clinical trials, and original equipment manufacturing services for healthcare and clinical research customers worldwide. It operates in two segments, Healthcare and Research. The Healthcare segment focuses on the remote cardiac monitoring to identify cardiac arrhythmias or heart rhythm disorders. This segment offers mobile cardiac telemetry services; and event monitoring services, which enable physicians to prescribe wireless event, digital loop event, memory loop event, memory loop event, and non-loop event monitors.