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

BioCardia, Inc. (NASDAQ:BCDA) was the recipient of a large decline in short interest during the month of September. As of September 15th, there was short interest totaling 107,300 shares, a decline of 48.8% from the August 31st total of 209,400 shares. Currently, 2.7% of the company’s shares are sold short. Based on an average trading volume of 719,200 shares, the days-to-cover ratio is presently 0.1 days. Based on an average trading volume of 719,200 shares, the days-to-cover ratio is presently 0.1 days. Currently, 2.7% of the company’s shares are sold short.

Analyst Upgrades and Downgrades

BCDA has been the topic of a number of recent analyst reports. Zacks Research raised shares of BioCardia to a “hold” rating in a research report on Tuesday, September 23rd. HC Wainwright reaffirmed a “buy” rating and issued a $25.00 target price on shares of BioCardia in a research report on Monday, September 22nd. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of BioCardia in a research report on Saturday, September 27th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, BioCardia presently has an average rating of “Moderate Buy” and a consensus target price of $25.00.

BioCardia Trading Up 0.7%

Shares of BCDA opened at $1.36 on Friday. The firm has a market cap of $7.90 million, a PE ratio of -0.74 and a beta of 0.80. The company’s 50 day simple moving average is $1.80 and its 200-day simple moving average is $2.10. BioCardia has a 12-month low of $1.00 and a 12-month high of $3.20.

BioCardia (NASDAQ:BCDA) last announced its earnings results on Monday, August 11th. The company reported ($0.40) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.50) by $0.10. As a group, equities research analysts forecast that BioCardia will post -3.52 EPS for the current fiscal year.

Insider Buying and Selling at BioCardia

In related news, CEO Peter Altman bought 48,000 shares of the firm’s stock in a transaction on Friday, September 19th. The shares were bought at an average price of $1.25 per share, with a total value of $60,000.00. Following the completion of the transaction, the chief executive officer directly owned 216,762 shares of the company’s stock, valued at $270,952.50. This represents a 28.44% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Simon H. Stertzer bought 398,400 shares of the firm’s stock in a transaction on Friday, September 19th. The stock was bought at an average cost of $1.25 per share, for a total transaction of $498,000.00. Following the transaction, the director directly owned 591,054 shares of the company’s stock, valued at $738,817.50. The trade was a 206.80% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased 737,300 shares of company stock valued at $923,156 over the last 90 days. 20.00% of the stock is owned by insiders.

Institutional Investors Weigh In On BioCardia

Several hedge funds have recently modified their holdings of the stock. Cetera Investment Advisers acquired a new stake in shares of BioCardia during the second quarter worth $40,000. Brown Advisory Inc. acquired a new stake in BioCardia in the first quarter valued at $90,000. Finally, CM Management LLC lifted its holdings in 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 during the period. 20.57% of the stock is owned by institutional investors and hedge funds.

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.