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

BioCardia, Inc. (NASDAQ:BCDA) saw a large growth in short interest in the month of September. As of September 30th, there was short interest totaling 198,800 shares, a growth of 85.3% from the September 15th total of 107,300 shares. Currently, 2.7% of the company’s shares are short sold. Based on an average daily volume of 722,000 shares, the days-to-cover ratio is presently 0.3 days. Based on an average daily volume of 722,000 shares, the days-to-cover ratio is presently 0.3 days. Currently, 2.7% of the company’s shares are short sold.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of BioCardia in a research note on Wednesday, October 8th. HC Wainwright reissued a “buy” rating and set a $25.00 price objective on shares of BioCardia in a report on Monday, September 22nd. Finally, Zacks Research upgraded BioCardia to a “hold” rating in a report on Tuesday, September 23rd. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $25.00.

Insider Activity

In other news, CEO Peter Altman purchased 48,000 shares of the company’s stock in a transaction that occurred on Friday, September 19th. The shares were acquired at an average cost of $1.25 per share, with a total value of $60,000.00. Following the purchase, the chief executive officer owned 216,762 shares in the company, valued at $270,952.50. This represents a 28.44% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Andrew Scott Blank purchased 288,000 shares of the company’s stock in a transaction that occurred on Friday, September 19th. The shares were purchased at an average cost of $1.25 per share, for a total transaction of $360,000.00. Following the completion of the purchase, the director owned 634,023 shares in the company, valued at $792,528.75. This trade represents a 83.23% increase in their position. The disclosure for this purchase can be found here. Insiders have acquired 737,300 shares of company stock valued at $923,156 in the last ninety days. 20.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On BioCardia

Several institutional investors have recently modified their holdings of the business. CM Management LLC grew its holdings in shares of BioCardia by 200.0% in the first quarter. CM Management LLC now owns 75,000 shares of the company’s stock valued at $190,000 after acquiring an additional 50,000 shares in the last quarter. Brown Advisory Inc. bought a new position in shares of BioCardia in the first quarter valued at approximately $90,000. Finally, Cetera Investment Advisers bought a new position in shares of BioCardia in the second quarter valued at approximately $40,000. 20.57% of the stock is owned by institutional investors.

BioCardia Stock Down 2.0%

BCDA stock opened at $1.46 on Thursday. BioCardia has a twelve month low of $1.00 and a twelve month high of $3.20. The stock’s 50 day moving average is $1.68 and its 200-day moving average is $2.01. The firm has a market capitalization of $8.48 million, a PE ratio of -0.79 and a beta of 0.80.

BioCardia (NASDAQ:BCDA) last released its earnings results on Monday, August 11th. The company reported ($0.40) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.50) by $0.10. On average, equities research analysts anticipate that BioCardia will post -3.52 earnings per share for the current fiscal year.

About BioCardia

BioCardia, Inc, a clinical-stage regenerative medicine company, develops cellular and cell-derived therapeutics for cardiovascular and pulmonary diseases in the United States. Its lead product candidate is CardiAMP, an autologous mononuclear cell therapy system in Phase III clinical trial for the treatment of ischemic heart failure with reduced ejection fraction and refractory angina resulting from chronic myocardial ischemia.