Braveheart Bio (NASDAQ:BRVE) Shares Climb 8.1% – Here’s Why

Braveheart Bio, Inc. (NASDAQ:BRVE) shot up 8.1% during trading on Thursday. The stock traded as high as $21.44 and last traded at $21.84. Approximately 80,989 shares were traded during mid-day trading, a decline of 83% from the average session volume of 475,182 shares. The stock had previously closed at $20.20.

Analyst Upgrades and Downgrades

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

Braveheart Bio Stock Up 6.7%

Braveheart Bio (NASDAQ:BRVE) last released 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). Analysts forecast that Braveheart Bio, Inc. will post -1.48 EPS for the current fiscal year.

Insider Activity at Braveheart Bio

In other Braveheart Bio news, Director David Lubner acquired 55,555 shares of the business’s stock in a transaction dated Friday, August 7th. The stock was purchased at an average price of $18.00 per share, with a total value of $999,990.00. Following the transaction, the director directly owned 55,555 shares in the company, valued at approximately $999,990. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Bio Fund Iv L.P. Ah acquired 1,100,000 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, with a total value of $19,800,000.00. Following the completion of the purchase, the insider directly owned 10,232,420 shares in the company, valued at $184,183,560. This represents a 12.05% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders purchased a total of 8,751,942 shares of company stock valued at $157,534,956 in the last three months.

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.