Braveheart Bio, Inc. (NASDAQ:BRVE) Shares Shorted: Short Interest Up 76.1% in September

Braveheart Bio, Inc. (NASDAQ:BRVE) was the recipient of 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. Currently, 2.7% of the company’s stock are short sold. Based on an average daily volume of 328,415 shares, the short-interest ratio is presently 7.5 days.

Insider Activity

In related news, Director Christopher Viehbacher acquired 83,333 shares of the firm’s stock in a transaction dated Friday, August 7th. The stock was acquired at an average price of $18.00 per share, for a total transaction of $1,499,994.00. Following the purchase, the director owned 609,519 shares of the company’s stock, valued at $10,971,342. This represents a 15.84% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Orbimed Advisors Llc acquired 1,940,000 shares of the stock in a transaction dated Friday, August 7th. The shares were bought at an average cost of $18.00 per share, with a total value of $34,920,000.00. Following the completion of the transaction, the director owned 11,901,826 shares of the company’s stock, valued at approximately $214,232,868. This represents a 19.47% increase in their position. The SEC filing for this purchase provides additional information. Insiders acquired a total of 8,751,942 shares of company stock worth $157,534,956 over the last three months.

Braveheart Bio Price Performance

BRVE stock traded up $0.28 during midday trading on Tuesday, reaching $21.34. 108,100 shares of the company were exchanged, compared to its average volume of 456,973. Braveheart Bio has a 1-year low of $20.00 and a 1-year high of $32.00.

Braveheart Bio (NASDAQ:BRVE) last announced its quarterly earnings results on Tuesday, September 8th. The company reported ($2.51) EPS for the quarter, missing the consensus estimate of ($0.25) by ($2.26). On average, equities research analysts expect that Braveheart Bio will post -1.48 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on BRVE. Jefferies Financial Group started coverage on shares of Braveheart Bio in a research note on Monday, August 31st. They issued a “buy” rating and a $48.00 price target for the company. Stifel Nicolaus started coverage on shares of Braveheart Bio in a research report on Monday, August 31st. They issued a “buy” rating and a $45.00 price objective on the stock. Wall Street Zen raised shares of Braveheart Bio to a “hold” rating in a research report on Saturday, August 15th. Cantor Fitzgerald started coverage on shares of Braveheart Bio in a research note on Monday, August 31st. They set an “overweight” rating and a $40.00 target price for the company. Finally, Zacks Research upgraded Braveheart Bio to a “hold” rating in a research note on Tuesday, September 1st. Five analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $45.25.

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.