Heartflow (NASDAQ:HTFL) Stock Price Down 8.8% – Here’s Why

Heartflow, Inc. (NASDAQ:HTFL) shares dropped 8.8% on Monday . The company traded as low as $22.76 and last traded at $22.89. Approximately 328,516 shares changed hands during trading, a decline of 78% from the average daily volume of 1,501,651 shares. The stock had previously closed at $25.10.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on HTFL shares. Stifel Nicolaus increased their price objective on Heartflow from $35.00 to $40.00 and gave the stock a “buy” rating in a report on Thursday, November 13th. Wells Fargo & Company began coverage on shares of Heartflow in a research note on Wednesday, January 28th. They set an “overweight” rating and a $38.00 price target on the stock. Canaccord Genuity Group lifted their price objective on shares of Heartflow from $39.00 to $40.00 and gave the company a “buy” rating in a research note on Thursday, November 13th. JPMorgan Chase & Co. increased their target price on shares of Heartflow from $36.00 to $40.00 and gave the stock an “overweight” rating in a research report on Thursday, November 13th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Heartflow in a research report on Monday, December 29th. Five analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $38.50.

Heartflow Trading Down 11.7%

The firm has a 50 day simple moving average of $29.53. The company has a market cap of $1.89 billion and a price-to-earnings ratio of -12.24.

Insider Buying and Selling at Heartflow

In related news, insider Campbell Rogers sold 65,153 shares of the business’s stock in a transaction dated Thursday, February 12th. The stock was sold at an average price of $24.49, for a total transaction of $1,595,596.97. Following the transaction, the insider directly owned 76,034 shares in the company, valued at $1,862,072.66. The trade was a 46.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Bain Capital Life Sciences Inv sold 2,000,000 shares of the firm’s stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $28.05, for a total value of $56,100,000.00. Following the completion of the transaction, the insider directly owned 10,448,158 shares of the company’s stock, valued at approximately $293,070,831.90. This trade represents a 16.07% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 2,095,715 shares of company stock valued at $58,533,709 over the last quarter.

Institutional Investors Weigh In On Heartflow

A number of institutional investors have recently added to or reduced their stakes in HTFL. TFC Financial Management Inc. bought a new stake in shares of Heartflow in the 3rd quarter valued at approximately $40,000. Emerald Mutual Fund Advisers Trust bought a new stake in Heartflow in the third quarter valued at $4,418,000. TrueMark Investments LLC acquired a new position in Heartflow during the third quarter worth $918,000. Baillie Gifford & Co. bought a new position in shares of Heartflow during the third quarter valued at $101,182,000. Finally, Y Intercept Hong Kong Ltd acquired a new stake in shares of Heartflow in the 3rd quarter valued at $234,000.

About Heartflow

HeartFlow, Inc (NASDAQ: HTFL) is a medical technology company that develops non-invasive diagnostic solutions for coronary artery disease. The company’s core offering translates coronary CT angiography (CTA) data into a patient-specific, three-dimensional physiological model of the coronary arteries. Using advanced image processing and computational modeling, HeartFlow’s analysis estimates fractional flow reserve (FFR) values throughout the coronary tree to identify ischemia-producing lesions without the need for invasive pressure-wire measurements.

HeartFlow’s cloud-based service integrates with clinical workflows: clinicians submit coronary CTA images and receive a detailed, color-coded 3D map and report that highlights lesion-specific FFR values and physiological impact.