Transaction details
Harvard Bioscience NASDAQ:HBIO Chief Financial Officer Mark T. Frost purchased 5,000 shares of common stock on March 16, 2026, at $5.00 a share, for a total outlay of $25,000. The purchase was disclosed in a filing with the Securities and Exchange Commission dated April 1, 2026. The SEC filing reflects a 10-for-1 reverse stock split that took effect on March 13, 2026.
Holdings after the purchase
After the transaction, Frost directly owns 17,500 shares of Harvard Bioscience. That total includes 10,000 restricted stock units that are scheduled to vest on May 12, 2026, and 2,500 shares of common stock beneficially owned. The filing lays out the composition of his post-transaction holdings but does not include additional commentary from company executives.
Market context and valuation note
At the time of the disclosure, the stock was trading at $5.12 and was down 27% year-to-date according to InvestingPro data. InvestingPro analysis cited in the filing indicates the company’s implied valuation corresponds to a free cash flow yield of 26%. The filing also points readers to Harvard Bioscience’s Pro Research Report for deeper analysis, which is available alongside reports for other U.S. equities.
Recent financial performance and outlook
Harvard Bioscience reported fourth-quarter 2025 revenue of $23.7 million, a figure that exceeded the midpoint of the company’s guidance range but represented a 3.2% decline from the prior year. The company posted a gross margin of 59.77% for the quarter, which the filing identifies as the highest level in seven quarters.
For 2026 the company provided guidance anticipating revenue growth of 2% to 4%, corresponding to $88 million to $90 million, with expected gross margins between 58% and 60%. Adjusted EBITDA is projected to grow 6% to 10%, or to a range of $8.6 million to $8.9 million.
Analyst activity and strategy
Benchmark adjusted its price target on Harvard Bioscience to $6.00 from $0.60 following the 1-for-10 reverse stock split. The same analyst had previously reduced its target to $0.60 from $2.00, citing concerns about the NIH budget and a conservative 2026 outlook. Harvard Bioscience’s strategic plan for 2026, as described in the filing, aims to move from operational stabilization to renewed revenue growth and margin improvement through measures including manufacturing consolidation and accelerating revenue from its New Product Innovation pipeline.
Note - The SEC filing dated April 1, 2026, documents the insider purchase and the post-split holdings described above.