Braveheart Bio (NASDAQ:BRVE) Reaches New 1-Year Low – Time to Sell?

Braveheart Bio, Inc. (NASDAQ:BRVEGet Free Report) hit a new 52-week low on Tuesday . The company traded as low as $24.31 and last traded at $25.50, with a volume of 806205 shares traded. The stock had previously closed at $27.44.

Analyst Ratings Changes

Several analysts have issued reports on BRVE shares. The Goldman Sachs Group started coverage on Braveheart Bio in a research note on Monday. They issued a “buy” rating and a $48.00 price objective on the stock. Stifel Nicolaus started coverage on Braveheart Bio in a research note on Monday. They set a “buy” rating and a $45.00 target price for the company. Jefferies Financial Group initiated coverage on Braveheart Bio in a report on Monday. They set a “buy” rating and a $48.00 target price on the stock. TD Cowen initiated coverage on Braveheart Bio in a research note on Monday. They issued a “buy” rating on the stock. 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, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $45.25.

Get Our Latest Report on Braveheart Bio

Braveheart Bio Trading Up 2.5%

Insider Activity at Braveheart Bio

In other news, Director Orbimed Advisors Llc bought 1,940,000 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the director owned 11,901,826 shares of the company’s stock, valued at $214,232,868. This trade represents a 19.47% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Growth Opportunities F. Forbion bought 1,680,000 shares of the stock in a transaction dated Friday, August 7th. The shares were purchased at an average price of $18.00 per share, for a total transaction of $30,240,000.00. Following the purchase, the insider owned 10,185,478 shares of the company’s stock, valued at $183,338,604. This trade represents a 19.75% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders have purchased 8,751,942 shares of company stock valued at $157,534,956.

Braveheart Bio Company Profile

(Get Free Report)

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.

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