Brokerages Set HeartBeam, Inc. (NASDAQ:BEAT) PT at $4.80

Shares of HeartBeam, Inc. (NASDAQ:BEAT) have earned an average recommendation of “Moderate Buy” from the eight brokerages that are presently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, four have given a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $4.80.

BEAT has been the subject of several analyst reports. HC Wainwright restated a “buy” rating and issued a $5.50 target price on shares of HeartBeam in a report on Monday, March 16th. D. Boral Capital cut HeartBeam from a “buy” rating to a “hold” rating in a report on Monday, April 20th. Finally, B. Riley Financial initiated coverage on HeartBeam in a report on Tuesday, March 31st. They issued a “buy” rating and a $4.00 target price for the company.

Insider Buying and Selling at HeartBeam

In related news, Director Richard Ferrari bought 62,500 shares of the company’s stock in a transaction on Thursday, April 16th. The stock was bought at an average cost of $0.80 per share, for a total transaction of $50,000.00. Following the acquisition, the director directly owned 291,636 shares in the company, valued at $233,308.80. This represents a 27.28% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Willem Elfrink purchased 187,500 shares of the stock in a transaction dated Thursday, April 16th. The shares were acquired at an average price of $0.80 per share, with a total value of $150,000.00. Following the completion of the acquisition, the director owned 538,667 shares in the company, valued at approximately $430,933.60. This trade represents a 53.39% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders purchased a total of 1,118,750 shares of company stock worth $895,000 in the last three months. 18.04% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On HeartBeam

Hedge funds have recently modified their holdings of the business. Clarity Financial LLC purchased a new position in shares of HeartBeam during the 4th quarter worth $25,000. CIBC Private Wealth Group LLC purchased a new position in shares of HeartBeam during the 4th quarter worth $26,000. Truist Financial Corp purchased a new position in shares of HeartBeam during the 4th quarter worth $36,000. Bessemer Group Inc. purchased a new position in shares of HeartBeam during the 3rd quarter worth $25,000. Finally, Jane Street Group LLC purchased a new position in shares of HeartBeam during the 4th quarter worth $55,000. 7.77% of the stock is currently owned by hedge funds and other institutional investors.

HeartBeam Price Performance

Shares of NASDAQ:BEAT opened at $0.89 on Monday. The business has a fifty day moving average of $1.17 and a two-hundred day moving average of $1.54. The stock has a market cap of $36.57 million, a P/E ratio of -1.44 and a beta of -0.86. HeartBeam has a 52-week low of $0.54 and a 52-week high of $4.00.

HeartBeam (NASDAQ:BEAT) last issued its earnings results on Thursday, March 12th. The medical research company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.01). On average, equities analysts anticipate that HeartBeam will post -0.53 earnings per share for the current year.

HeartBeam Company Profile

BioTelemetry, Inc, a remote medical technology company, provides remote cardiac monitoring, remote blood glucose monitoring, centralized core laboratory services for clinical trials, and original equipment manufacturing services for healthcare and clinical research customers worldwide. It operates in two segments, Healthcare and Research. The Healthcare segment focuses on the remote cardiac monitoring to identify cardiac arrhythmias or heart rhythm disorders. This segment offers mobile cardiac telemetry services; and event monitoring services, which enable physicians to prescribe wireless event, digital loop event, memory loop event, memory loop event, and non-loop event monitors.