Insider Buying: HeartBeam (NASDAQ:BEAT) Director Buys 62,500 Shares of Stock

HeartBeam, Inc. (NASDAQ:BEAT) Director Richard Ferrari bought 62,500 shares of the business’s stock in a transaction dated Thursday, April 16th. The shares were acquired at an average cost of $0.80 per share, for a total transaction of $50,000.00. Following the transaction, the director directly owned 291,636 shares in the company, valued at approximately $233,308.80. This represents a 27.28% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website.

HeartBeam Price Performance

Shares of NASDAQ BEAT traded down $0.08 during midday trading on Thursday, hitting $0.81. 1,929,862 shares of the company’s stock were exchanged, compared to its average volume of 816,360. The company has a market cap of $33.28 million, a PE ratio of -1.31 and a beta of -0.63. HeartBeam, Inc. has a twelve month low of $0.54 and a twelve month high of $4.00. The firm’s fifty day simple moving average is $1.30 and its 200-day simple moving average is $1.62.

HeartBeam (NASDAQ:BEAT) last announced its earnings results on Thursday, March 12th. The medical research company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.01).

Analyst Ratings Changes

Several brokerages have weighed in on BEAT. B. Riley Financial started coverage on HeartBeam in a research note on Tuesday, March 31st. They issued a “buy” rating and a $4.00 target price on the stock. HC Wainwright restated a “buy” rating and issued a $5.50 price target on shares of HeartBeam in a research note on Monday, March 16th. D. Boral Capital started coverage on HeartBeam in a research note on Friday, March 27th. They issued a “buy” rating and a $5.00 price target on the stock. Weiss Ratings restated a “sell (e+)” rating on shares of HeartBeam in a research note on Monday, December 29th. Finally, Wall Street Zen downgraded HeartBeam to a “strong sell” rating in a research note on Saturday, January 3rd. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $4.80.

Institutional Trading of HeartBeam

Institutional investors have recently modified their holdings of the business. Clarity Financial LLC purchased a new stake in shares of HeartBeam in the fourth quarter valued at approximately $25,000. CIBC Private Wealth Group LLC acquired a new position in HeartBeam during the fourth quarter worth $26,000. Truist Financial Corp acquired a new position in HeartBeam during the fourth quarter worth $36,000. Bessemer Group Inc. acquired a new position in HeartBeam during the third quarter worth $25,000. Finally, Jane Street Group LLC acquired a new position in HeartBeam during the fourth quarter worth $55,000. 7.77% of the stock is currently owned by hedge funds and other institutional investors.

About HeartBeam

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.