Braveheart Bio (NASDAQ:BRVE) Shares Down 7.6% - Time to Sell?

Key Points

• Braveheart Bio shares fell 7.6% to about $19.73, well below the 50-day moving average of $25.92, after the company reported a quarterly loss of $2.51 per share versus analysts’ expected loss of $0.25.
• Despite the decline, analysts remain broadly optimistic: five rate the stock Buy and one rates it Hold, producing a “Moderate Buy” consensus and an average price target of $45.25.
• Insiders have been buying heavily, including directors Erez Chimovits and Christopher Viehbacher; insiders purchased 8.75 million shares worth approximately $157.5 million over the past 90 days.

Shares of Braveheart Bio, Inc. (NASDAQ:BRVE - Get Free Report) dropped 7.6% during trading on Tuesday. The company traded as low as $19.67 and last traded at $19.73. Approximately 371,755 shares changed hands during trading, a decline of 25% from the average session volume of 496,624 shares. The stock had previously closed at $21.35.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Wall Street Zen upgraded shares of Braveheart Bio to a "hold" rating in a research note on Saturday, August 15th. Stifel Nicolaus assumed coverage on Braveheart Bio in a research note on Monday, August 31st. They set a "buy" rating and a $45.00 price target for the company. The Goldman Sachs Group started coverage on Braveheart Bio in a report on Monday, August 31st. They issued a "buy" rating and a $48.00 price objective on the stock. TD Cowen began coverage on shares of Braveheart Bio in a research report on Monday, August 31st. They set a "buy" rating on the stock. Finally, Zacks Research raised Braveheart Bio to a "hold" rating in a research note on Tuesday, September 1st. Five research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $45.25.

Braveheart Bio Stock Down 7.6%

The company has a 50-day simple moving average of $25.92.

Braveheart Bio (NASDAQ:BRVE - Get Free Report) last posted its earnings results on Tuesday, September 8th. The company reported ($2.51) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.25) by ($2.26). Analysts predict 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 purchased 1,940,000 shares of the stock in a transaction dated 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 completion of the transaction, the director owned 11,901,826 shares of the company's stock, valued at approximately $214,232,868. The trade was a 19.47% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Christopher Viehbacher purchased 83,333 shares of the stock in a transaction dated Friday, August 7th. The shares were acquired at an average cost of $18.00 per share, for a total transaction of $1,499,994.00. Following the completion of the acquisition, the director directly owned 609,519 shares of the company's stock, valued at approximately $10,971,342. This trade represents a 15.84% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders have purchased 8,751,942 shares of company stock valued at $157,534,956.

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.

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