Braveheart Bio (NASDAQ:BRVE) Trading Up 8% – Here’s Why

Braveheart Bio, Inc. (NASDAQ:BRVE)’s stock price was up 8% during trading on Tuesday . The stock traded as high as $28.13 and last traded at $28.87. 36,977 shares traded hands during mid-day trading, a decline of 89% from the average session volume of 342,337 shares. The stock had previously closed at $26.74.

Analyst Ratings Changes

Several research firms recently issued reports on BRVE. The Goldman Sachs 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 target on the stock. Jefferies Financial Group assumed coverage on Braveheart Bio in a research note on Monday, August 31st. They issued a “buy” rating and a $48.00 price target on the stock. TD Cowen assumed coverage on Braveheart Bio in a research report on Monday, August 31st. They set a “buy” rating for the company. Stifel Nicolaus initiated coverage on Braveheart Bio in a research note on Monday, August 31st. They issued a “buy” rating and a $45.00 price objective on the stock. Finally, Cantor Fitzgerald initiated coverage on shares of Braveheart Bio in a report on Monday, August 31st. They issued an “overweight” rating and a $40.00 target price for the company. Five research 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.com, Braveheart Bio has a consensus rating of “Moderate Buy” and an average price target of $45.25.

Braveheart Bio Stock Performance

Insider Activity at Braveheart Bio

In other news, Director David Lubner purchased 55,555 shares of Braveheart Bio stock in a transaction dated Friday, August 7th. The shares were bought at an average cost of $18.00 per share, for a total transaction of $999,990.00. Following the completion of the acquisition, the director owned 55,555 shares in the company, valued at approximately $999,990. This trade represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Growth Opportunities F. Forbion acquired 1,680,000 shares of the stock in a transaction dated Friday, August 7th. The stock was purchased at an average cost of $18.00 per share, with a total value of $30,240,000.00. Following the purchase, the insider directly owned 10,185,478 shares of the company’s stock, valued at $183,338,604. This trade represents a 19.75% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders 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.