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Richard Ferrari (NYSE:RACE), a director at HeartBeam, Inc. (NASDAQ:BEAT), recently purchased 29,412 shares of the company’s common stock. The shares were acquired at a price of $1.70 each, amounting to a total transaction value of approximately $50,000. The stock currently trades at $2.08, representing a 22% premium to the purchase price. According to InvestingPro data, HeartBeam maintains a strong liquidity position with a current ratio of 3.31x, indicating robust short-term financial health. Following this acquisition, Ferrari holds a total of 179,136 shares directly. Additionally, 65,653 shares are held indirectly through the Ferrari Living Trust, where Ferrari serves as the trustee.
The transaction occurred as part of an offering that closed on February 14, 2025. This purchase further reinforces Ferrari’s stake in the company, aligning his interests with those of HeartBeam’s shareholders.
In other recent news, HeartBeam, Inc. has announced the pricing of its public offering at $1.70 per share, aiming to raise $10 million in gross proceeds. This capital is intended to support the company’s strategic initiatives, including commercial-readiness activities and investments in research and development. Additionally, HeartBeam has submitted a 510(k) application to the U.S. Food and Drug Administration for its 12-lead ECG synthesis software, which is designed to improve cardiac rhythm and arrhythmia assessments. The submission is backed by data from the VALID-ECG study, involving 198 patients, to demonstrate clinical equivalence to standard ECGs.
The company has also received 510(k) clearance from the FDA for its novel ECG system, which is the first of its kind cleared for comprehensive arrhythmia assessment. This system allows patients to record an ECG whenever symptoms occur, facilitating timely medical evaluations. HeartBeam is preparing to launch an Early Access Program to gather user feedback ahead of its commercial release. The company plans to integrate AI-based algorithms into its technology, potentially aiding in faster heart attack detection and response. HeartBeam holds several U.S. and international patents related to its innovative cardiac care solutions.
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