Fred Alger Management LLC Acquires Shares of 296,999 Heartflow, Inc. $HTFL

Fred Alger Management LLC acquired a new stake in Heartflow, Inc. (NASDAQ:HTFL) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 296,999 shares of the company’s stock, valued at approximately $9,997,000.

Several other large investors have also recently modified their holdings of the stock. Baillie Gifford & Co. bought a new stake in Heartflow in the third quarter worth $101,182,000. TD Asset Management Inc bought a new position in Heartflow during the third quarter valued at $2,692,000. New York State Common Retirement Fund purchased a new stake in shares of Heartflow in the third quarter valued at $4,015,000. Artisan Partners Limited Partnership purchased a new stake in shares of Heartflow in the third quarter valued at $16,817,000. Finally, JPMorgan Chase & Co. bought a new stake in shares of Heartflow in the 3rd quarter worth about $13,887,000.

Insider Activity at Heartflow

In related news, Director Julie A. Cullivan sold 9,122 shares of the business’s stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $25.00, for a total value of $228,050.00. Following the completion of the sale, the director owned 27,291 shares in the company, valued at approximately $682,275. The trade was a 25.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Campbell Rogers sold 65,153 shares of the stock in a transaction that occurred on Thursday, February 12th. The stock was sold at an average price of $24.49, for a total value of $1,595,596.97. Following the completion of the transaction, the insider directly owned 76,034 shares in the company, valued at approximately $1,862,072.66. This trade represents a 46.15% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 2,117,674 shares of company stock valued at $59,052,646 over the last 90 days.

Heartflow Trading Up 2.4%

NASDAQ HTFL opened at $20.98 on Tuesday. The stock has a market cap of $1.79 billion and a PE ratio of -11.59. Heartflow, Inc. has a 12 month low of $20.13 and a 12 month high of $41.22. The company’s 50-day moving average price is $27.47 and its 200-day moving average price is $30.58.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on HTFL shares. Canaccord Genuity Group reiterated a “buy” rating and set a $40.00 price target on shares of Heartflow in a report on Monday, March 9th. Wells Fargo & Company assumed coverage on shares of Heartflow in a research note on Wednesday, January 28th. They issued an “overweight” rating and a $38.00 price objective for the company. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Heartflow in a research note on Monday, December 29th. Five research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $38.50.

About Heartflow

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.