Braveheart Bio (NASDAQ:BRVE) Hits New 1-Year Low – Here’s What Happened

Braveheart Bio, Inc. (NASDAQ:BRVE)’s stock price hit a new 52-week low during trading on Tuesday . The stock traded as low as $24.17 and last traded at $24.3650, with a volume of 183470 shares trading hands. The stock had previously closed at $25.02.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. The Goldman Sachs Group assumed coverage on shares of Braveheart Bio in a research report on Monday, August 31st. They issued a “buy” rating and a $48.00 price objective for the company. Wall Street Zen upgraded Braveheart Bio to a “hold” rating in a research note on Saturday, August 15th. TD Cowen began coverage on Braveheart Bio in a research report on Monday, August 31st. They issued a “buy” rating on the stock. Zacks Research raised shares of Braveheart Bio to a “hold” rating in a research report on Tuesday, September 1st. Finally, 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. Five research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $45.25.

Braveheart Bio Stock Performance

Braveheart Bio (NASDAQ:BRVE) last posted its quarterly earnings data 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). As a group, research analysts anticipate that Braveheart Bio, Inc. will post -1.48 EPS for the current year.

Insider Buying and Selling at Braveheart Bio

In other Braveheart Bio news, Director Erez Chimovits acquired 1,940,000 shares of Braveheart Bio stock in a transaction dated Friday, August 7th. The stock was bought at an average price of $18.00 per share, for a total transaction of $34,920,000.00. Following the transaction, the director owned 11,901,826 shares in the company, valued at approximately $214,232,868. This trade represents a 19.47% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Orbimed Advisors Llc bought 1,940,000 shares of Braveheart Bio stock in a transaction that occurred on Friday, August 7th. The shares were acquired at an average price of $18.00 per share, with a total value of $34,920,000.00. Following the completion of the acquisition, the director directly owned 11,901,826 shares of the company’s stock, valued at $214,232,868. This represents a 19.47% increase in their position. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders have acquired 8,751,942 shares of company stock valued at $157,534,956.

About Braveheart Bio

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.