Transaction details
HeartBeam, Inc. (NASDAQ: BEAT) Chief Financial Officer Tim Cruickshank acquired 31,250 shares of the company's common stock on April 16, 2026, a purchase documented on a Form 4 filed with the Securities and Exchange Commission. The shares were bought at $0.80 each, bringing the aggregate cost of the transaction to $25,000.
Market context
At the time of the filing, HeartBeam's shares were trading at $0.81, trading close to the 52-week low of $0.54 and having registered a 66 percent decline year-to-date. The insider purchase was executed in conjunction with HeartBeam's underwritten public offering of 12,500,000 shares of common stock.
Underwriting and offering timeline
According to the filing, Titan Partners, a division of American Capital Partners, served as the sole bookrunner for the offering. The transaction priced on April 14, 2026, and the offering closed on April 16, 2026.
Post-transaction holdings
Following the purchase reported on April 16, Cruickshank directly owns 72,230 shares of HeartBeam. That total includes 23,333 vested restricted stock units (RSUs) that are part of his holdings.
Related corporate financing
Separately, HeartBeam announced the closing of a $10 million public offering completed through the sale of 12.5 million common shares priced at $0.80 per share. The company granted the underwriters a 30-day option to buy an additional 1.875 million shares to cover any over-allotments.
Participants in the offering and analyst reaction
The offering was led by ClearCardio, identified as HeartBeam's first commercial customer, and included participation from executive leadership, members of the board, and several institutional investors. In connection with these developments, B.Riley and D. Boral Capital both initiated coverage on HeartBeam with Buy ratings and set price targets of $4.00 and $5.00, respectively.
Product and analyst interest
These financing and coverage events come after HeartBeam received FDA clearance for its cable-free ECG device, intended for continuous cardiac monitoring. The clearance and related investor activity have drawn positive attention from analysts, according to the information provided.
Valuation note
InvestingPro analysis referenced in the filings indicates the stock appears undervalued at current market levels, with more detailed assessments available through Pro Research Reports covering more than 1,400 U.S. equities.
This report focuses on the insider purchase, the concurrent public offering, and related analyst coverage and regulatory clearance. It presents the transactions and facts as recorded in public filings and company announcements.