Braveheart Bio (NASDAQ:BRVE) Sets New 1-Year Low – Should You Sell?

Braveheart Bio, Inc. (NASDAQ:BRVE) hit a new 52-week low during trading on Monday. The company traded as low as $19.83 and last traded at $21.2280, with a volume of 168546 shares trading hands. The stock had previously closed at $21.27.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. TD Cowen initiated coverage on Braveheart Bio in a research note on Monday, August 31st. They set a “buy” rating for the company. Cantor Fitzgerald began coverage on Braveheart Bio in a research note on Monday, August 31st. They issued an “overweight” rating and a $40.00 price target for the company. Wall Street Zen upgraded Braveheart Bio to a “hold” rating in a report on Saturday, August 15th. The Goldman Sachs Group assumed 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. Finally, Zacks Research raised shares of Braveheart Bio to a “hold” rating in a research report on Tuesday, September 1st. Five investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $45.25.

Braveheart Bio Stock Down 7.3%

The company’s 50 day moving average is $25.78.

Braveheart Bio (NASDAQ:BRVE) last announced its quarterly earnings results on Tuesday, September 8th. The company reported ($2.51) EPS for the quarter, missing the consensus estimate of ($0.25) by ($2.26). Equities analysts anticipate that Braveheart Bio, Inc. will post -1.48 EPS for the current year.

Insider Buying and Selling at Braveheart Bio

In other news, Director Erez Chimovits bought 1,940,000 shares of the business’s stock in a transaction on Friday, August 7th. The stock was purchased at an average price of $18.00 per share, with a total value of $34,920,000.00. Following the transaction, the director directly owned 11,901,826 shares in the company, valued at approximately $214,232,868. The trade was a 19.47% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Growth Opportunities F. Forbion purchased 1,680,000 shares of the firm’s stock in a transaction on Friday, August 7th. The shares were purchased at an average price of $18.00 per share, with a total value of $30,240,000.00. Following the completion of the acquisition, the insider directly owned 10,185,478 shares of the company’s stock, valued at approximately $183,338,604. This trade represents a 19.75% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders purchased 8,751,942 shares of company stock worth $157,534,956 in the last quarter.

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.