BioCardia, Inc. (NASDAQ:BCDA) Short Interest Update

BioCardia, Inc. (NASDAQ:BCDA) was the recipient of a large growth in short interest in July. As of July 15th, there was short interest totaling 1,342,893 shares, a growth of 261.2% from the June 30th total of 371,795 shares. Approximately 14.3% of the shares of the company are sold short. Based on an average trading volume of 509,766 shares, the short-interest ratio is currently 2.6 days.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on BCDA. HC Wainwright restated a “buy” rating and set a $25.00 price objective on shares of BioCardia in a research note on Tuesday, June 9th. Zacks Research lowered shares of BioCardia from a “hold” rating to a “strong sell” rating in a research report on Monday, July 13th. Weiss Ratings reissued a “sell (e+)” rating on shares of BioCardia in a research note on Friday, July 17th. Finally, Wall Street Zen upgraded shares of BioCardia to a “sell” rating in a research report on Saturday, July 18th. One equities research analyst has rated the stock with a Buy rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, BioCardia presently has an average rating of “Reduce” and an average price target of $25.00.

Insiders Place Their Bets

In other BioCardia news, Director Simon H. Stertzer purchased 39,000 shares of BioCardia stock in a transaction on Tuesday, June 23rd. The stock was bought at an average price of $1.00 per share, for a total transaction of $39,000.00. Following the transaction, the director owned 166,338 shares of the company’s stock, valued at $166,338. The trade was a 30.63% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Over the last 90 days, insiders acquired 145,900 shares of company stock worth $138,862. 17.40% of the stock is owned by insiders.

Institutional Trading of BioCardia

Large investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC boosted its stake in shares of BioCardia by 70.4% during the 4th quarter. Geode Capital Management LLC now owns 66,003 shares of the company’s stock worth $83,000 after acquiring an additional 27,263 shares in the last quarter. DRW Securities LLC acquired a new stake in shares of BioCardia during the fourth quarter worth $72,000. Finally, Cetera Investment Advisers acquired a new stake in shares of BioCardia during the second quarter worth $40,000. 20.57% of the stock is currently owned by institutional investors.

BioCardia Trading Down 6.1%

NASDAQ:BCDA traded down $0.05 during mid-day trading on Friday, reaching $0.85. 129,553 shares of the stock were exchanged, compared to its average volume of 472,194. The business has a fifty day moving average price of $0.96 and a 200 day moving average price of $1.13. BioCardia has a 1-year low of $0.78 and a 1-year high of $2.40. The firm has a market capitalization of $9.67 million, a PE ratio of -0.93 and a beta of 0.44.

BioCardia (NASDAQ:BCDA) last issued its quarterly earnings results on Friday, May 15th. The company reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.04). On average, sell-side analysts forecast that BioCardia will post -0.76 earnings per share for the current year.

BioCardia Company Profile

BioCardia, Inc is a clinical-stage biotechnology company dedicated to developing novel cell-based therapies for patients with cardiovascular disease. The company’s core focus lies in advancing regenerative medicine approaches that address both chronic heart failure and acute myocardial infarction. BioCardia leverages proprietary delivery technologies to optimize the targeted administration of therapeutic cells directly into the heart muscle.

The company’s flagship products include the Helix Transendocardial Delivery System and the CardiAMP Cell Therapy System.