BioCardia (NASDAQ:BCDA) Stock Rating Lowered by Zacks Research

BioCardia (NASDAQ:BCDA) was downgraded by stock analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a report issued on Monday,Zacks.com reports.

Several other brokerages have also recently commented on BCDA. Weiss Ratings reissued a “sell (e+)” rating on shares of BioCardia in a research note on Monday, April 20th. HC Wainwright reiterated a “buy” rating and issued a $25.00 target price on shares of BioCardia in a research note on Tuesday, June 9th. One investment analyst has rated the stock with a Buy rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus price target of $25.00.

BioCardia Trading Down 11.9%

Shares of NASDAQ:BCDA opened at $0.80 on Monday. The firm has a market cap of $9.13 million, a price-to-earnings ratio of -0.88 and a beta of 0.44. BioCardia has a 1 year low of $0.78 and a 1 year high of $2.42. The business has a fifty day simple moving average of $0.99 and a 200 day simple moving average of $1.15.

BioCardia (NASDAQ:BCDA) last issued its earnings results on Friday, May 15th. The company reported ($0.21) EPS 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 EPS for the current year.

Insider Activity at BioCardia

In other news, Director Simon H. Stertzer purchased 70,200 shares of the company’s stock in a transaction dated Monday, June 22nd. The shares were bought at an average price of $0.92 per share, with a total value of $64,584.00. Following the completion of the transaction, 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have purchased a total of 146,900 shares of company stock valued at $140,092 over the last 90 days. Company insiders own 17.40% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Cetera Investment Advisers bought a new stake in BioCardia during the second quarter valued at about $40,000. DRW Securities LLC bought a new position in shares of BioCardia in the fourth quarter worth about $72,000. Finally, Geode Capital Management LLC increased its stake in shares of BioCardia by 70.4% in the fourth quarter. Geode Capital Management LLC now owns 66,003 shares of the company’s stock worth $83,000 after purchasing an additional 27,263 shares during the period. Institutional investors own 20.57% of the company’s stock.

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.