U.S. stocks lower as investors rotate out of tech ahead of Jackson Hole
HeartSciences Inc. (NASDAQ:HSCS) Director Mark T. Hilz, who is also the company’s COO and Secretary, sold 4,416 shares of common stock on July 29, 2025, according to a Form 4 filing with the Securities and Exchange Commission. The micro-cap company, valued at $6.87 million, has seen its stock decline 15% in the past week amid volatile trading conditions. The shares were sold at a weighted average price of $3.5374, realizing a total of $15,621.
The sales were executed in multiple transactions with prices ranging from $3.52 to $3.57. The transactions were made under a Rule 10b5-1 trading plan adopted on March 18, 2025. Following the transaction, Hilz directly owns 4,752 shares of HeartSciences Inc. common stock. He also indirectly owns 41 shares through his daughter. According to InvestingPro analysis, the stock currently trades below its Fair Value, despite challenging financial health metrics. Discover 12 additional key insights about HSCS with an InvestingPro subscription.
In other recent news, HeartSciences Inc. has announced several developments that may interest investors. The company reported that its board of directors approved an amendment to the 2023 Equity Incentive Plan, increasing the maximum number of shares issuable under the plan to 1,000,000, pending shareholder approval. Additionally, executive officers Andrew Simpson and Mark Hilz were granted restricted stock units, which will vest upon certain conditions, such as FDA clearance of the MyoVista Device or a change of control. In corporate governance updates, HeartSciences amended its bylaws to include a jury trial waiver for internal claims and set a 3% ownership threshold for shareholders to maintain derivative proceedings.
Moreover, the company made changes to its corporate structure by designating 4,285,714 shares of Series D Convertible Preferred Stock, as part of a plan to raise up to $15 million. The offering includes units priced at $3.50, each consisting of one share of preferred stock and a warrant to purchase common stock. HeartSciences also received an extension from The Nasdaq Stock Market to regain compliance with the Nasdaq Listing Rule 5550(b)(1), which requires a minimum of $2.5 million in stockholders’ equity. The company has until September 15, 2025, to meet these requirements.
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