Braveheart Bio (NASDAQ:BRVE) Reaches New 1-Year Low – Here’s Why

Shares of Braveheart Bio, Inc. (NASDAQ:BRVE – Get Free Report) reached a new 52-week low during trading on Thursday. The stock traded as low as $17.42 and last traded at $17.5240, with a volume of 33,143 shares changing hands. The stock had previously closed at $20.10.

Analysts Set New Price Targets

BRVE has been the topic of several research analyst reports. Wall Street Zen upgraded Braveheart Bio to a “hold” rating in a report on Saturday, August 15th. The Goldman Sachs Group started coverage on shares of Braveheart Bio in a research report on Monday, August 31st. They set a “buy” rating and a $48.00 price objective for the company. Jefferies Financial Group began coverage on shares of Braveheart Bio in a research report on Monday, August 31st. They set a “buy” rating and a $48.00 price objective for the company. TD Cowen assumed coverage on Braveheart Bio in a research note on Monday, August 31st. They set a “buy” rating on the stock. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $40.00 target price on shares of Braveheart Bio in a report on Tuesday, October 20th. Five analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Braveheart Bio has an average rating of “Moderate Buy” and a consensus price target of $45.25.

Get Our Latest Report on BRVE

Braveheart Bio Stock Performance

The company has a market capitalization of $1.58 billion and a P/E ratio of -6.96. The firm’s 50 day moving average price is $23.11.

Braveheart Bio (NASDAQ:BRVE – Get Free Report) last issued its earnings results on Tuesday, September 8th. The company reported ($2.51) EPS for the quarter, missing analysts’ consensus estimates of ($0.25) by ($2.26). On average, analysts anticipate that Braveheart Bio, Inc. will post -1.99 earnings per share for the current year.

Insider Buying and Selling

In related news, major shareholder Growth Opportunities F. Forbion acquired 1,920,000 shares of the stock in a transaction that occurred on Friday, August 7th. The shares were acquired at an average price of $18.00 per share, for a total transaction of $34,560,000.00. Following the completion of the purchase, the insider directly owned 11,640,546 shares of the company’s stock, valued at $209,529,828. The trade was a 19.75% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Erez Chimovits purchased 1,940,000 shares of the firm’s stock in a transaction on Friday, August 7th. The stock was acquired at an average price of $18.00 per share, for a total transaction 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. Insiders acquired a total of 8,751,942 shares of company stock valued at $157,534,956 over the last 90 days.

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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