HeartBeam (NASDAQ:BEAT) Posts Earnings Results, Misses Expectations By $0.01 EPS

HeartBeam (NASDAQ:BEAT) released its quarterly earnings data on Thursday. The medical research company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.01), FiscalAI reports.

Here are the key takeaways from HeartBeam’s conference call:

• Heart attack detection regulatory progress: HeartBeam submitted an FDA pre-submission for a 510(k) pathway on the AIMIGo heart attack detection indication and expects FDA feedback within 75 days. Management said a pivotal trial could potentially begin before year-end, although the required size and design remain uncertain.
• Clinical studies are advancing quickly: The ALIGN-ACS pilot enrolled 134 emergency-room patients in under four months, with results accepted for presentation at the TCT cardiology conference. The 500-patient HEADSTART-ACS study in Indonesia has surpassed 50% enrollment in less than three months, while a roughly 50-patient patch study is also enrolling ahead of schedule.
• Early commercial rollout is gaining traction: HeartBeam has agreements across New York, Dallas, South Florida, and Southern California, with initial orders shipped and patients being onboarded through concierge practices. Management is refining an intake-based workflow and expects order activity to increase toward the end of Q3, though current signed agreements cover only thousands of patients.
• Cost controls extend the cash runway: Q2 operating cash use declined to $3.3 million, and management expects quarterly operating cash outflow to fall below $2.5 million by Q4, with full-year 2026 operating cash outflows below $14 million. Cash, cash equivalents, and restricted cash totaled $8.8 million at June 30, extending the runway further into 2027, though a pivotal trial could increase spending.
• Platform expansion remains longer term: The company completed a working prototype of its 12-lead patch and highlighted future patent efforts involving acoustic sensing and fluid monitoring for potential heart-valve and congestive-heart-failure applications. These opportunities are not yet commercialized and add further development and regulatory uncertainty.

HeartBeam Stock Up 3.1%

BEAT traded up $0.02 during trading on Thursday, reaching $0.59. The stock had a trading volume of 821,979 shares, compared to its average volume of 1,096,464. HeartBeam has a 1-year low of $0.48 and a 1-year high of $4.00. The firm has a market capitalization of $32.74 million, a price-to-earnings ratio of -1.05 and a beta of -0.78. The stock has a 50 day moving average of $0.63 and a two-hundred day moving average of $0.99.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Geode Capital Management LLC increased its position in shares of HeartBeam by 4.1% in the fourth quarter. Geode Capital Management LLC now owns 305,740 shares of the medical research company’s stock worth $734,000 after acquiring an additional 12,142 shares in the last quarter. Kestra Private Wealth Services LLC boosted its position in HeartBeam by 23.4% during the third quarter. Kestra Private Wealth Services LLC now owns 175,989 shares of the medical research company’s stock valued at $290,000 after purchasing an additional 33,344 shares during the last quarter. State Street Corp increased its holdings in HeartBeam by 60.1% in the fourth quarter. State Street Corp now owns 125,473 shares of the medical research company’s stock worth $301,000 after buying an additional 47,100 shares during the last quarter. Raymond James Financial Inc. grew its position in HeartBeam by 212.5% in the third quarter. Raymond James Financial Inc. now owns 88,050 shares of the medical research company’s stock worth $145,000 after acquiring an additional 59,872 shares in the last quarter. Finally, Insigneo Advisory Services LLC bought a new stake in HeartBeam in the fourth quarter worth $74,000. Institutional investors own 7.77% of the company’s stock.

Analyst Ratings Changes

BEAT has been the subject of several research reports. Maxim Group started coverage on shares of HeartBeam in a report on Tuesday, July 14th. They issued a “buy” rating and a $2.00 price target for the company. Wall Street Zen raised HeartBeam from a “strong sell” rating to a “sell” rating in a report on Saturday, May 16th. Weiss Ratings restated a “sell (e+)” rating on shares of HeartBeam in a research report on Thursday, July 2nd. HC Wainwright lowered their price objective on HeartBeam from $5.50 to $2.50 and set a “buy” rating for the company in a research note on Friday, May 22nd. Finally, D. Boral Capital cut HeartBeam from a “buy” rating to a “hold” rating in a research note on Monday, April 20th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $4.00.

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.