Braveheart Bio, Inc. (NASDAQ:BRVE) Shares Shorted: Short Interest Up 67.8% in September

Braveheart Bio, Inc. (NASDAQ:BRVE) was the target of a large increase in short interest in September. As of September 30th, there was short interest totaling 4,128,974 shares, an increase of 67.8% from the September 15th total of 2,461,086 shares. Based on an average daily trading volume, of 809,950 shares, the days-to-cover ratio is currently 5.1 days. Currently, 4.6% of the shares of the stock are short sold.

Insider Buying and Selling at Braveheart Bio

In related news, Director Orbimed Advisors Llc bought 1,940,000 shares of the stock in a transaction dated Friday, August 7th. The shares were purchased 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 owned 11,901,826 shares of the company’s stock, valued at $214,232,868. This represents a 19.47% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Erez Chimovits bought 1,940,000 shares of the company’s stock in a transaction that occurred on Friday, August 7th. The shares were bought at an average price of $18.00 per share, with a total value of $34,920,000.00. Following the transaction, the director owned 11,901,826 shares of the company’s stock, valued at $214,232,868. The trade was a 19.47% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last 90 days, insiders bought 8,751,942 shares of company stock worth $157,534,956.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. TD Cowen assumed coverage on shares of Braveheart Bio in a report on Monday, August 31st. They issued a “buy” rating on the stock. Jefferies Financial Group assumed coverage on shares of Braveheart Bio in a report on Monday, August 31st. They set a “buy” rating and a $48.00 price objective for the company. The Goldman Sachs Group initiated coverage on shares of Braveheart Bio in a report on Monday, August 31st. They set a “buy” rating and a $48.00 price objective for the company. Cantor Fitzgerald started coverage on Braveheart Bio in a research report on Monday, August 31st. They set an “overweight” rating and a $40.00 price objective for the company. Finally, Wall Street Zen raised Braveheart Bio to a “hold” rating in a report on Saturday, August 15th. Five research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $45.25.

Braveheart Bio Trading Up 1.1%

Shares of NASDAQ BRVE opened at $19.55 on Friday. The stock’s 50 day moving average is $24.90. Braveheart Bio has a 1-year low of $17.86 and a 1-year high of $32.00.

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

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.