Heartflow (NASDAQ:HTFL) Reaches New 1-Year Low Following Insider Selling

Heartflow, Inc. (NASDAQ:HTFL) hit a new 52-week low on Wednesday after an insider sold shares in the company. The stock traded as low as $25.36 and last traded at $26.42, with a volume of 575570 shares. The stock had previously closed at $27.30.

Specifically, CEO John C.M. Farquhar sold 22,562 shares of the firm’s stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $27.46, for a total value of $619,552.52. Following the completion of the transaction, the chief executive officer directly owned 591,656 shares in the company, valued at approximately $16,246,873.76. This trade represents a 3.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Julie A. Cullivan sold 8,000 shares of the company’s stock in a transaction that occurred on Thursday, February 5th. The stock was sold at an average price of $27.32, for a total transaction of $218,560.00. Following the sale, the director directly owned 36,413 shares in the company, valued at $994,803.16. This trade represents a 18.01% decrease in their position. The disclosure for this sale is available in the SEC filing. In other Heartflow news, major shareholder Bain Capital Life Sciences Inv sold 2,000,000 shares of the firm’s stock in a transaction on Wednesday, February 4th. The shares were sold at an average price of $28.05, for a total value of $56,100,000.00. Following the completion of the transaction, the insider directly owned 10,448,158 shares of the company’s stock, valued at $293,070,831.90. This trade represents a 16.07% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Analysts Set New Price Targets

HTFL has been the topic of several research analyst reports. Wells Fargo & Company began coverage on shares of Heartflow in a report on Wednesday, January 28th. They issued an “overweight” rating and a $38.00 price target on the stock. Weiss Ratings restated a “sell (d)” rating on shares of Heartflow in a research note on Monday, December 29th. JPMorgan Chase & Co. lifted their price target on Heartflow from $36.00 to $40.00 and gave the company an “overweight” rating in a research report on Thursday, November 13th. Canaccord Genuity Group upped their price objective on shares of Heartflow from $39.00 to $40.00 and gave the stock a “buy” rating in a research report on Thursday, November 13th. Finally, Stifel Nicolaus raised their target price on shares of Heartflow from $35.00 to $40.00 and gave the company a “buy” rating in a research note on Thursday, November 13th. Five analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $38.50.

Heartflow Trading Down 16.5%

The stock has a market cap of $1.92 billion and a P/E ratio of -12.43. The stock has a 50-day moving average of $30.11.

Institutional Investors Weigh In On Heartflow

A number of institutional investors have recently made changes to their positions in the business. Baillie Gifford & Co. purchased a new stake in Heartflow during the third quarter valued at about $101,182,000. New York State Common Retirement Fund bought a new stake in shares of Heartflow in the 3rd quarter valued at about $4,015,000. Emerald Mutual Fund Advisers Trust purchased a new stake in Heartflow during the 3rd quarter valued at about $4,418,000. Board of Trustees of The Leland Stanford Junior University bought a new position in Heartflow during the 3rd quarter worth approximately $10,510,000. Finally, Lisanti Capital Growth LLC purchased a new position in Heartflow in the 3rd quarter worth approximately $982,000.

Heartflow Company Profile

HeartFlow, Inc (NASDAQ: HTFL) is a medical technology company that develops non-invasive diagnostic solutions for coronary artery disease. The company’s core offering translates coronary CT angiography (CTA) data into a patient-specific, three-dimensional physiological model of the coronary arteries. Using advanced image processing and computational modeling, HeartFlow’s analysis estimates fractional flow reserve (FFR) values throughout the coronary tree to identify ischemia-producing lesions without the need for invasive pressure-wire measurements.

HeartFlow’s cloud-based service integrates with clinical workflows: clinicians submit coronary CTA images and receive a detailed, color-coded 3D map and report that highlights lesion-specific FFR values and physiological impact.