Zacks Research Upgrades BioCardia (NASDAQ:BCDA) to “Hold”

BioCardia (NASDAQ:BCDA) was upgraded by investment analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a note issued to investors on Tuesday,Zacks.com reports.

A number of other brokerages have also issued reports on BCDA. Wall Street Zen upgraded shares of BioCardia to a “sell” rating in a research note on Saturday, July 18th. Weiss Ratings reiterated a “sell (e+)” rating on shares of BioCardia in a research note on Friday, July 17th. Finally, HC Wainwright reissued a “buy” rating and set a $25.00 price objective on shares of BioCardia in a report on Tuesday, June 9th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $25.00.

BioCardia Stock Down 5.6%

Shares of NASDAQ BCDA opened at $0.88 on Tuesday. BioCardia has a fifty-two week low of $0.75 and a fifty-two week high of $2.29. The business has a 50 day moving average price of $0.94 and a two-hundred day moving average price of $1.08. The firm has a market cap of $10.01 million, a PE ratio of -0.97 and a beta of 0.48.

BioCardia (NASDAQ:BCDA) last announced its earnings results on Wednesday, August 12th. The company reported ($0.13) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.05. On average, analysts anticipate that BioCardia will post -0.76 earnings per share for the current year.

Insider Transactions at BioCardia

In other BioCardia news, Director Simon H. Stertzer acquired 70,200 shares of the firm’s stock in a transaction on Monday, June 22nd. The stock was purchased at an average price of $0.92 per share, with a total value of $64,584.00. Following the completion of the acquisition, the director directly owned 127,338 shares in the company, valued at $117,150.96. This trade represents a 122.86% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders acquired 145,900 shares of company stock worth $137,212 in the last quarter. Company insiders own 17.40% of the company’s stock.

Institutional Trading of BioCardia

A number of institutional investors and hedge funds have recently modified their holdings of BCDA. DRW Securities LLC acquired a new stake in BioCardia during the fourth quarter worth about $72,000. Geode Capital Management LLC boosted its stake in BioCardia by 70.4% in the fourth quarter. Geode Capital Management LLC now owns 66,003 shares of the company’s stock valued at $83,000 after acquiring an additional 27,263 shares during the period. Finally, Cetera Investment Advisers acquired a new position in BioCardia in the second quarter valued at approximately $40,000. 20.57% of the stock is owned by institutional investors and hedge funds.

About BioCardia

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.