Braveheart Bio, Inc. (NASDAQ:BRVE) Short Interest Up 64.8% in August

Braveheart Bio, Inc. (NASDAQ:BRVE) was the target of a significant increase in short interest in the month of August. As of August 31st, there was short interest totaling 1,397,189 shares, an increase of 64.8% from the August 15th total of 847,773 shares. Based on an average daily volume of 249,992 shares, the short-interest ratio is presently 5.6 days. Approximately 1.9% of the company’s shares are sold short.

Insider Transactions at Braveheart Bio

In other Braveheart Bio news, major shareholder Bio Fund Iv L.P. Ah purchased 1,100,000 shares of the stock in a transaction on Friday, August 7th. The stock was bought at an average cost of $18.00 per share, for a total transaction of $19,800,000.00. Following the completion of the acquisition, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Orbimed Advisors Llc acquired 1,940,000 shares of the business’s stock in a transaction dated Friday, August 7th. The shares were acquired at an average price of $18.00 per share, for a total transaction of $34,920,000.00. Following the acquisition, the director directly owned 11,901,826 shares in the company, valued at $214,232,868. This represents a 19.47% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders have acquired 8,751,942 shares of company stock valued at $157,534,956.

Braveheart Bio Price Performance

NASDAQ:BRVE opened at $27.45 on Thursday. Braveheart Bio has a 52-week low of $24.31 and a 52-week high of $32.00.

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

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Cantor Fitzgerald initiated coverage on shares of Braveheart Bio in a report on Monday, August 31st. They issued an “overweight” rating and a $40.00 price target for the company. TD Cowen started coverage on shares of Braveheart Bio in a research report on Monday, August 31st. They issued a “buy” rating on the stock. Jefferies Financial Group initiated coverage on shares of Braveheart Bio in a research note on Monday, August 31st. They issued a “buy” rating and a $48.00 target price for the company. Zacks Research upgraded Braveheart Bio to a “hold” rating in a report on Tuesday, September 1st. Finally, The Goldman Sachs Group began coverage on Braveheart Bio in a research note on Monday, August 31st. They issued a “buy” rating and a $48.00 price target on the stock. Five research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the company currently 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.