HeartBeam (NASDAQ:BEAT) Director Mark Strome Buys 750,000 Shares of Stock

HeartBeam, Inc. (NASDAQ:BEAT) Director Mark Strome purchased 750,000 shares of the 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 $600,000.00. Following the completion of the acquisition, the director owned 3,650,000 shares in the company, valued at approximately $2,920,000. This trade represents a 25.86% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

HeartBeam Stock Down 8.5%

Shares of BEAT stock opened at $0.81 on Friday. HeartBeam, Inc. has a 12-month low of $0.54 and a 12-month high of $4.00. The company has a market capitalization of $33.28 million, a PE ratio of -1.31 and a beta of -0.63. The firm has a 50 day moving average price of $1.30 and a two-hundred day moving average price of $1.62.

HeartBeam (NASDAQ:BEAT) last posted its earnings results on Thursday, March 12th. The medical research company reported ($0.14) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.01).

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Geode Capital Management LLC lifted its position in HeartBeam by 4.1% during the fourth quarter. Geode Capital Management LLC now owns 305,740 shares of the medical research company’s stock worth $734,000 after purchasing an additional 12,142 shares during the period. Ritholtz Wealth Management increased its holdings in HeartBeam by 49.6% in the 4th quarter. Ritholtz Wealth Management now owns 208,191 shares of the medical research company’s stock valued at $500,000 after buying an additional 69,009 shares during the period. Kestra Private Wealth Services LLC raised its position in shares of HeartBeam by 23.4% in the 3rd quarter. Kestra Private Wealth Services LLC now owns 175,989 shares of the medical research company’s stock valued at $290,000 after buying an additional 33,344 shares in the last quarter. State Street Corp raised its position in shares of HeartBeam by 60.1% in the 4th quarter. State Street Corp now owns 125,473 shares of the medical research company’s stock valued at $301,000 after buying an additional 47,100 shares in the last quarter. Finally, Spectrum Asset Management Inc. NB CA lifted its holdings in shares of HeartBeam by 26.9% during the 4th quarter. Spectrum Asset Management Inc. NB CA now owns 94,400 shares of the medical research company’s stock worth $227,000 after acquiring an additional 20,000 shares during the period. Institutional investors own 7.77% of the company’s stock.

Trending Headlines about HeartBeam

Here are the key news stories impacting HeartBeam this week:

• Positive Sentiment: Senior insiders (multiple directors and the CFO) purchased a total of ~1.12M shares at $0.80 apiece (roughly $895k in aggregate), including a 750k‑share buy by director Mark E. Strome, signaling management confidence and increasing insider ownership. SEC Filing — Mark E. Strome
• Positive Sentiment: Reported short interest fell ~22.8%, which reduces immediate short‑selling pressure and can support the share price during this post‑offering period. Short interest report
• Neutral Sentiment: Recent analyst/press comparison pieces examine HeartBeam versus peers; useful for longer‑term competitive/contextual perspective but not an immediate catalyst. Competitive comparison
• Negative Sentiment: HeartBeam launched and priced a $10 million public offering to support commercialization and AI initiatives. Equity offerings are dilutive and typically weigh on the share price; media coverage noted the stock slipped after the offering was priced. Offering pricing Offering closing Market reaction article

Analyst Ratings Changes

BEAT has been the subject of a number of recent research reports. HC Wainwright reissued a “buy” rating and issued a $5.50 target price on shares of HeartBeam in a research report on Monday, March 16th. B. Riley Financial assumed coverage on shares of HeartBeam in a research report on Tuesday, March 31st. They set a “buy” rating and a $4.00 price target on the stock. Wall Street Zen cut shares of HeartBeam to a “strong sell” rating in a research note on Saturday, January 3rd. Weiss Ratings reissued a “sell (e+)” rating on shares of HeartBeam in a report on Monday, December 29th. Finally, D. Boral Capital initiated coverage on shares of HeartBeam in a research report on Friday, March 27th. They set a “buy” rating and a $5.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $4.80.

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.