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

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

BioCardia Price Performance

Shares of NASDAQ:BCDA traded down $0.04 during midday trading on Monday, reaching $0.81. 299,574 shares of the company’s stock were exchanged, compared to its average volume of 1,418,971. The stock has a market cap of $9.20 million, a price-to-earnings ratio of -0.89 and a beta of 0.44. BioCardia has a fifty-two week low of $0.78 and a fifty-two week high of $2.38. The firm’s 50 day simple moving average is $0.96 and its two-hundred day simple moving average is $1.13.

BioCardia (NASDAQ:BCDA) last posted 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). Equities research analysts predict that BioCardia will post -0.76 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Zacks Research cut BioCardia from a “hold” rating to a “strong sell” rating in a report on Monday, July 13th. Wall Street Zen raised BioCardia to a “sell” rating in a research note on Saturday, July 18th. Weiss Ratings restated a “sell (e+)” rating on shares of BioCardia in a report on Friday, July 17th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $25.00 target price on shares of BioCardia in a research note on Tuesday, June 9th. One analyst has rated the stock with a Buy rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Reduce” and an average price target of $25.00.

Insider Buying and Selling

In other BioCardia news, Director Simon H. Stertzer bought 39,000 shares of the firm’s stock in a transaction on Tuesday, June 23rd. The shares were acquired at an average cost of $1.00 per share, with a total value of $39,000.00. Following the purchase, the director directly owned 166,338 shares of the company’s stock, valued at $166,338. This trade represents a 30.63% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. In the last three months, insiders have bought 145,900 shares of company stock valued at $138,862. 17.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On BioCardia

Large investors have recently made changes to their positions in the stock. Geode Capital Management LLC boosted its position 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 purchasing an additional 27,263 shares during the period. DRW Securities LLC purchased a new stake in BioCardia in the fourth quarter valued at approximately $72,000. Finally, Cetera Investment Advisers purchased a new stake in BioCardia in the second quarter valued at approximately $40,000. 20.57% of the stock is currently 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.