Mark Strome Acquires 750,000 Shares of HeartBeam (NASDAQ:BEAT) Stock

HeartBeam, Inc. (NASDAQ:BEAT) Director Mark Strome acquired 750,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 16th. The stock was bought at an average cost of $0.80 per share, with a total value of $600,000.00. Following the completion of the transaction, the director directly owned 3,650,000 shares in the company, valued at $2,920,000. The trade was a 25.86% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

HeartBeam Stock Up 13.6%

Shares of HeartBeam stock opened at $0.92 on Friday. The firm has a market capitalization of $37.80 million, a P/E ratio of -1.48 and a beta of -0.63. The company has a 50 day moving average price of $1.29 and a 200 day moving average price of $1.61. HeartBeam, Inc. has a 52 week low of $0.54 and a 52 week high of $4.00.

HeartBeam (NASDAQ:BEAT) last announced its quarterly earnings data on Thursday, March 12th. The medical research company reported ($0.14) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.01).

Hedge Funds Weigh In On HeartBeam

Hedge funds and other institutional investors have recently bought and sold shares of the business. Jane Street Group LLC acquired a new position in HeartBeam in the 4th quarter worth approximately $55,000. Insigneo Advisory Services LLC acquired a new position in HeartBeam in the 4th quarter worth approximately $74,000. CIBC Private Wealth Group LLC acquired a new position in HeartBeam in the 4th quarter worth approximately $26,000. D Orazio & Associates Inc. increased its holdings in HeartBeam by 48.5% in the 4th quarter. D Orazio & Associates Inc. now owns 48,987 shares of the medical research company’s stock worth $118,000 after buying an additional 16,000 shares during the period. Finally, Truist Financial Corp acquired a new position in HeartBeam in the 4th quarter worth approximately $36,000. Institutional investors and hedge funds own 7.77% of the company’s stock.

More HeartBeam News

Here are the key news stories impacting HeartBeam this week:

• Positive Sentiment: Multiple senior insiders bought substantial stakes (totaling ~1.12M shares at $0.80/share), including director Mark E. Strome’s 750,000‑share purchase — a strong signal of management confidence that likely helped lift the stock. Read More.
• Positive Sentiment: Director Marga Ortigas‑Wedekind separately disclosed a 25,000‑share buy at $0.80, reinforcing the pattern of insider accumulation. Read More.
• Neutral Sentiment: Recent articles comparing HeartBeam to peers provide background on competitive positioning and product opportunities (useful for longer‑term investors but not an immediate catalyst). Read More.
• Negative Sentiment: HeartBeam closed a $10.0M public offering to fund commercialization and AI initiatives — the cash reduces funding risk but the equity issuance is dilutive and often depresses short‑term share prices. Media coverage noted selling pressure around the offering. Read More.

Wall Street Analyst Weigh In

Several equities analysts recently commented on BEAT shares. Wall Street Zen lowered shares of HeartBeam to a “strong sell” rating in a research report on Saturday, January 3rd. B. Riley Financial started coverage on shares of HeartBeam in a research report on Tuesday, March 31st. They issued a “buy” rating and a $4.00 price objective for the company. HC Wainwright reaffirmed a “buy” rating and issued a $5.50 price objective on shares of HeartBeam in a research report on Monday, March 16th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of HeartBeam in a research report on Monday, December 29th. Finally, D. Boral Capital assumed coverage on shares of HeartBeam in a report on Friday, March 27th. They issued a “buy” rating and a $5.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $4.80.

HeartBeam Company Profile

BioTelemetry, Inc, a remote medical technology company, provides remote cardiac monitoring, remote blood glucose monitoring, centralized core laboratory services for clinical trials, and original equipment manufacturing services for healthcare and clinical research customers worldwide. It operates in two segments, Healthcare and Research. The Healthcare segment focuses on the remote cardiac monitoring to identify cardiac arrhythmias or heart rhythm disorders. This segment offers mobile cardiac telemetry services; and event monitoring services, which enable physicians to prescribe wireless event, digital loop event, memory loop event, memory loop event, and non-loop event monitors.