Heart Test Laboratories Published: 2022-10-27

Heart Test Laboratories, Inc. (HSCS)

Headquartered in Southlake, TX, Heart Test Laboratories (HSCS) is a medical technology company. Their main product is the MyoVista® Wavelet ECG (wavECG) Cardiac Testing Device. Most people find out they have heart disease because of a sudden adverse event. This device helps doctors detect problems earlier. It uses AI machine learning to do what conventional ECGs cannot. Their technology is patented with 18 total international patents granted and 8 in the US.


They are currently essentially pre-revenue with only $14k in sales for all of their fiscal year ending 2022-04-30. They also have decent current ratio of about 3.53 due to their IPO in June of this year. The current cash level does look adequate for some time as the company switches from R&D to SG&A expenses.


It's always exciting to see the development of new technology. It drives our economy forward. But if the technology is not widely adopted it is useless. Apparently, this new device is on its way to becoming accepted by the marketplace.

Andrew Simpson, the Chief Executive Officer of HeartSciences said the following:
“This is a major milestone for HeartSciences. The issuance of new CPT codes by the AMA acknowledges the importance of AI analysis of cardiac dysfunction using an ECG. It also further validates the commercial opportunity for the MyoVista, One of the most significant needs in healthcare is the ability to detect cardiac dysfunction early. An AI-enabled ECG is a relatively low-cost, simple, and quick way to do that. Millions of ECG tests are performed every week and we believe adding detection of cardiac dysfunction to the ECG would make it a far more valuable heart screening tool.”

MedTech Outlook Magazine named this company as one of its top 10 MedTech startups for 2022.


All stocks are risky, of course, and this one is no exception. But I found this one as I was looking through the stocks on the unusual short sales transactions list.
What caught my eye was that even though it was being pretty heavily shorted it was still continuing to go up. This is clearly a sign of strength. There are so many stocks to choose from, and it is literally like trying to find a needle in a haystack so tools like this one help immensely.

Anyway, this company went public this summer at just a terrible time.

They have clawed their way back from the depths of pennyhood and are now trading at a somewhat respectable $2.75. If, and the emphasis is on "if," this product helps doctors detect heart disease earlier, it will be a smashing success. The stock price will surely follow. It's a low floater with only 8.17M shares out and a float of only 5.9M so if and when it decides to move it will really move. Also, the fee and rebate rates are extremely expensive at over 70% for both. This one is extremely hard to borrow at the moment.

I am watching this one carefully. I have not pulled the trigger on shares yet as it seems a bit short-term overbought, but that could change at any time.

Previous articles:

Become a Contributor

This article was written by: Anonymous
  • The author does not have a financial interest (stocks, options, other) in any companies mentioned in this article.
  • The author has indicated that this article is an original work. It expresses their opinions.
  • The author does not have a business relationship with companies mentioned in this article.

  • Facebook Linked In Reddit StockTwits Tweet Email this to someone

    Tickers of Interest


    Nothing on this site is meant to be a recommendation to buy or sell securities nor an offer to buy or sell securities. Use this information at your own risk.
    Your continued use of this site implies agreement with our terms and conditions, which may be revised from time to time.