Heartflow (NASDAQ:HTFL) Shares Up 4.6% - Time to Buy?

Key Points

• Shares rose 4.6% to $23.56 on Wednesday on light trading (volume down ~84% versus average), and the stock remains below its 50- and 200-day moving averages of $27.30 and $30.52.
• Analysts hold a consensus Moderate Buy rating with an average price target of $38.50, including buy/overweight calls from Canaccord ($40) and Wells Fargo ($38).
• Significant insider selling has occurred recently—about 2.12 million shares (~$59 million) sold over the past 90 days, highlighted by Bain Capital Life Sciences' 2 million-share sale.

Shares of Heartflow, Inc. (NASDAQ:HTFL - Get Free Report) shot up 4.6% during trading on Wednesday . The company traded as high as $24.03 and last traded at $23.5630. 222,966 shares traded hands during mid-day trading, a decline of 84% from the average session volume of 1,383,120 shares. The stock had previously closed at $22.52.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Canaccord Genuity Group reissued a "buy" rating and set a $40.00 price target on shares of Heartflow in a research note on Monday, March 9th. Weiss Ratings restated a "sell (d)" rating on shares of Heartflow in a research report on Monday, December 29th. Finally, Wells Fargo & Company began coverage on shares of Heartflow in a report on Wednesday, January 28th. They issued an "overweight" rating and a $38.00 price target for the company. Five investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $38.50.

Heartflow Price Performance

The firm's fifty day moving average is $27.30 and its two-hundred day moving average is $30.52. The firm has a market capitalization of $2.11 billion and a PE ratio of -13.66.

Insiders Place Their Bets

In related news, Director Julie A. Cullivan sold 9,122 shares of Heartflow stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $25.00, for a total transaction of $228,050.00. Following the sale, the director directly owned 27,291 shares in the company, valued at approximately $682,275. This trade represents a 25.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through 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 shares were sold at an average price of $28.05, for a total value of $56,100,000.00. Following the sale, the insider directly owned 10,448,158 shares of the company's stock, valued at approximately $293,070,831.90. This represents a 16.07% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 2,117,674 shares of company stock valued at $59,052,646.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of HTFL. Caitong International Asset Management Co. Ltd purchased a new position in Heartflow in the fourth quarter valued at approximately $27,000. TFC Financial Management Inc. purchased a new stake in Heartflow in the third quarter worth $40,000. Russell Investments Group Ltd. bought a new stake in shares of Heartflow in the fourth quarter valued at $45,000. Legal & General Group Plc purchased a new position in shares of Heartflow during the 3rd quarter valued at $59,000. Finally, Strs Ohio purchased a new stake in Heartflow in the 4th quarter worth about $99,000.

Heartflow Company Profile

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.

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