Braveheart Bio (NASDAQ:BRVE) Trading Down 6.6% – Should You Sell?

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

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. The Goldman Sachs Group began coverage on Braveheart Bio in a research note on Monday, August 31st. They set a “buy” rating and a $48.00 price objective on the stock. Stifel Nicolaus assumed coverage on shares of Braveheart Bio in a report on Monday, August 31st. They issued a “buy” rating and a $45.00 target price on the stock. Jefferies Financial Group assumed coverage on shares of Braveheart Bio in a research note on Monday, August 31st. They set a “buy” rating and a $48.00 price target on the stock. Cantor Fitzgerald started coverage on shares of Braveheart Bio in a report on Monday, August 31st. They set an “overweight” rating and a $40.00 price target for the company. Finally, Zacks Research raised shares of Braveheart Bio to a “hold” rating in a research report on Tuesday, September 1st. Five analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $45.25.

Braveheart Bio Price Performance

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

Insiders Place Their Bets

In related news, major shareholder Growth Opportunities F. Forbion bought 1,680,000 shares of the stock in a transaction that occurred on Friday, August 7th. The stock was purchased at an average cost of $18.00 per share, for a total transaction of $30,240,000.00. Following the completion of the acquisition, the insider owned 10,185,478 shares in the company, valued at $183,338,604. This trade represents a 19.75% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Bio Fund Iv L.P. Ah purchased 1,100,000 shares of the company’s stock in a transaction that occurred on Friday, August 7th. The shares were bought at an average cost of $18.00 per share, with a total value of $19,800,000.00. Following the transaction, the insider directly owned 10,232,420 shares of the company’s stock, valued at $184,183,560. The trade was a 12.05% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last three months, insiders acquired 8,751,942 shares of company stock valued at $157,534,956.

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.