Braveheart Bio (NASDAQ:BRVE) Trading Down 6.6% - Should You Sell?

Key Points

• BRVE shares fell 6.6% to $27.26 on Monday, with trading volume 63% below the average session volume.
• Analysts remain broadly positive: five rate the stock a Buy and one a Hold, producing a “Moderate Buy” consensus and an average price target of $45.25.
• The company reported a significant earnings miss, with quarterly EPS of -$2.51 versus the expected -$0.25, while insiders bought 8.75 million shares worth approximately $157.5 million over the past three months.

Braveheart Bio, Inc. (NASDAQ:BRVE - Get Free Report) fell 6.6% on Monday . The stock traded as low as $27.48 and last traded at $27.26. 151,025 shares were traded during trading, a decline of 63% from the average session volume of 410,951 shares. The stock had previously closed at $29.20.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on BRVE shares. 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 target price on the stock. Zacks Research upgraded Braveheart Bio to a "hold" rating in a research report on Tuesday, September 1st. Wall Street Zen raised Braveheart Bio to a "hold" rating in a research note on Saturday, August 15th. Cantor Fitzgerald began coverage on Braveheart Bio in a report on Monday, August 31st. They issued an "overweight" rating and a $40.00 price target for the company. Finally, TD Cowen assumed coverage on shares of Braveheart Bio in a research report on Monday, August 31st. They set a "buy" rating on the stock. Five analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $45.25.

Braveheart Bio Stock Down 13.6%

Braveheart Bio (NASDAQ:BRVE - Get Free Report) last released its earnings results on Tuesday, September 8th. The company reported ($2.51) EPS for the quarter, missing the consensus estimate of ($0.25) by ($2.26). Sell-side analysts predict that Braveheart Bio, Inc. will post -1.48 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, major shareholder Growth Opportunities F. Forbion bought 1,920,000 shares of the business's stock in a transaction on Friday, August 7th. The shares were purchased at an average price of $18.00 per share, with a total value of $34,560,000.00. Following the completion of the purchase, the insider owned 11,640,546 shares of the company's stock, valued at $209,529,828. This represents a 19.75% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Christopher Viehbacher bought 83,333 shares of Braveheart Bio stock in a transaction on Friday, August 7th. The shares were bought at an average price of $18.00 per share, for a total transaction of $1,499,994.00. Following the acquisition, the director owned 609,519 shares of the company's stock, valued at approximately $10,971,342. The trade was a 15.84% 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 three months.

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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