Braveheart Bio, Inc.’s (NASDAQ:BRVE) Quiet Period Set To Expire on September 15th

Braveheart Bio’s (NASDAQ:BRVE) quiet period will expire on Tuesday, September 15th. Braveheart Bio had issued 21,250,000 shares in its public offering on August 6th. The total size of the offering was $382,500,000 based on an initial share price of $18.00. During the company’s quiet period, insiders and underwriters involved in the IPO are prevented from issuing any earnings forecasts or research reports for the company because of SEC regulations. Following the end of the company’s quiet period, it’s expected that the brokerages that served as underwriters on the stock will initiate research coverage on the company.

Analysts Set New Price Targets

Several research analysts have recently issued reports on BRVE shares. Jefferies Financial Group assumed coverage on shares of Braveheart Bio in a report on Monday, August 31st. They issued a “buy” rating and a $48.00 target price for the company. TD Cowen assumed coverage on shares of Braveheart Bio in a research note on Monday, August 31st. They set a “buy” rating on the stock. Cantor Fitzgerald started coverage on shares of Braveheart Bio in a research report on Monday, August 31st. They issued an “overweight” rating and a $40.00 price target for the company. Stifel Nicolaus began coverage on shares of Braveheart Bio in a research note on Monday, August 31st. They issued a “buy” rating and a $45.00 price objective for the company. Finally, Zacks Research raised Braveheart Bio to a “hold” rating in a report on Tuesday, September 1st. Five analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $45.25.

Braveheart Bio Stock Down 2.2%

Shares of NASDAQ BRVE opened at $26.64 on Friday. Braveheart Bio has a twelve month low of $24.31 and a twelve month high of $32.00.

Braveheart Bio (NASDAQ:BRVE) last announced its earnings results on Tuesday, September 8th. The company reported ($2.51) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.25) by ($2.26). Research analysts predict that Braveheart Bio will post -1.48 EPS for the current year.

Insider Activity

In other Braveheart Bio news, Director David Lubner bought 55,555 shares of Braveheart Bio stock in a transaction dated Friday, August 7th. The stock was acquired at an average cost of $18.00 per share, with a total value of $999,990.00. Following the completion of the acquisition, the director owned 55,555 shares of the company’s stock, valued at approximately $999,990. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Bio Fund Iv L.P. Ah purchased 1,100,000 shares of the stock in a transaction that occurred on Friday, August 7th. The shares were bought at an average cost of $18.00 per share, for a total transaction of $19,800,000.00. Following the acquisition, the insider owned 10,232,420 shares of the company’s stock, valued at approximately $184,183,560. The trade was a 12.05% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have acquired 8,751,942 shares of company stock worth $157,534,956 over the last 90 days.

About Braveheart Bio

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.