HeartBeam (NASDAQ:BEAT) Director Willem Elfrink Buys 187,500 Shares

HeartBeam, Inc. (NASDAQ:BEAT) Director Willem Elfrink purchased 187,500 shares of the stock in a transaction on Thursday, April 16th. The shares were purchased at an average price of $0.80 per share, for a total transaction of $150,000.00. Following the transaction, the director directly owned 538,667 shares of the company’s stock, valued at approximately $430,933.60. This represents a 53.39% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this link.

HeartBeam Stock Down 8.5%

NASDAQ BEAT opened at $0.81 on Friday. The stock’s 50-day simple moving average is $1.30 and its two-hundred day simple moving average is $1.62. HeartBeam, Inc. has a twelve month low of $0.54 and a twelve month high of $4.00. The company has a market capitalization of $33.28 million, a price-to-earnings ratio of -1.31 and a beta of -0.63.

HeartBeam (NASDAQ:BEAT) last released its quarterly earnings results on Thursday, March 12th. The medical research company reported ($0.14) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.01).

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of BEAT. Ritholtz Wealth Management increased its holdings in HeartBeam by 49.6% during the 4th quarter. Ritholtz Wealth Management now owns 208,191 shares of the medical research company’s stock valued at $500,000 after purchasing an additional 69,009 shares during the period. Raymond James Financial Inc. increased its holdings in HeartBeam by 212.5% during the 3rd quarter. Raymond James Financial Inc. now owns 88,050 shares of the medical research company’s stock valued at $145,000 after purchasing an additional 59,872 shares during the period. State Street Corp increased its holdings in HeartBeam by 60.1% during the 4th quarter. State Street Corp now owns 125,473 shares of the medical research company’s stock valued at $301,000 after purchasing an additional 47,100 shares during the period. Kestra Private Wealth Services LLC increased its holdings in HeartBeam by 23.4% during 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 purchasing an additional 33,344 shares during the period. Finally, Insigneo Advisory Services LLC purchased a new position in HeartBeam during the 4th quarter valued at about $74,000. Hedge funds and other institutional investors own 7.77% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on BEAT shares. Weiss Ratings reiterated a “sell (e+)” rating on shares of HeartBeam in a report on Monday, December 29th. HC Wainwright reiterated a “buy” rating and issued a $5.50 price objective on shares of HeartBeam in a report on Monday, March 16th. B. Riley Financial started coverage on HeartBeam in a report on Tuesday, March 31st. They issued a “buy” rating and a $4.00 price objective on the stock. Wall Street Zen downgraded HeartBeam to a “strong sell” rating in a report on Saturday, January 3rd. Finally, D. Boral Capital started coverage on HeartBeam in a report on Friday, March 27th. They issued a “buy” rating and a $5.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $4.80.

More HeartBeam News

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

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.