Braveheart Bio, Inc.’s Quiet Period Will End Tomorrow (NASDAQ:BRVE)

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

Analysts Set New Price Targets

BRVE has been the subject of a number of research reports. Cantor Fitzgerald started coverage on shares of Braveheart Bio in a research note on Monday, August 31st. They issued an “overweight” rating and a $40.00 price target for the company. Wall Street Zen upgraded shares of Braveheart Bio to a “hold” rating in a report on Saturday, August 15th. Jefferies Financial Group assumed coverage on shares of Braveheart Bio in a research report on Monday, August 31st. They set a “buy” rating and a $48.00 price objective on the stock. Zacks Research upgraded Braveheart Bio to a “hold” rating in a research note on Tuesday, September 1st. Finally, TD Cowen started coverage on Braveheart Bio in a research report on Monday, August 31st. They issued a “buy” rating for the company. Five investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $45.25.

Braveheart Bio Price Performance

Shares of BRVE opened at $26.64 on Monday. Braveheart Bio has a 12-month low of $24.31 and a 12-month high of $32.00.

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

Insider Activity

In other Braveheart Bio news, major shareholder Bio Fund Iv L.P. Ah bought 1,100,000 shares of the stock in a transaction that occurred on Friday, August 7th. The shares were bought at an average price of $18.00 per share, for a total transaction of $19,800,000.00. Following the acquisition, the insider directly 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 position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Growth Opportunities F. Forbion purchased 1,920,000 shares of the company’s stock in a transaction that occurred on Friday, August 7th. The stock was acquired at an average cost of $18.00 per share, for a total transaction of $34,560,000.00. Following the transaction, the insider owned 11,640,546 shares in the company, valued at $209,529,828. This represents a 19.75% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders acquired 8,751,942 shares of company stock valued at $157,534,956.

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.