BioCardia (NASDAQ:BCDA) Lowered to “Strong Sell” Rating 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 research note issued on Monday,Zacks.com reports.

Several other equities analysts have also issued reports on the company. Weiss Ratings restated 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 price objective on shares of BioCardia in a research report on Tuesday, June 9th. One investment analyst has rated the stock with a Buy rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Reduce” and a consensus price target of $25.00.

BioCardia Price Performance

NASDAQ:BCDA opened at $0.80 on Monday. BioCardia has a one year low of $0.78 and a one year high of $2.42. The company has a fifty day moving average price of $0.99 and a 200 day moving average price of $1.15. The stock has a market cap of $9.13 million, a P/E ratio of -0.88 and a beta of 0.44.

BioCardia (NASDAQ:BCDA) last posted its quarterly earnings results on Friday, May 15th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.17) by ($0.04). As a group, equities research analysts anticipate that BioCardia will post -0.76 EPS for the current year.

Insiders Place Their Bets

In other BioCardia news, Director Simon H. Stertzer purchased 39,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 23rd. The stock was purchased at an average price of $1.00 per share, with a total value of $39,000.00. Following the completion of the transaction, the director directly owned 166,338 shares of the company’s stock, valued at approximately $166,338. This trade represents a 30.63% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have bought a total of 146,900 shares of company stock valued at $140,092 over the last quarter. Insiders own 17.40% of the company’s stock.

Institutional Investors Weigh In On BioCardia

A number of institutional investors have recently added to or reduced their stakes in BCDA. Cetera Investment Advisers acquired a new position in shares of BioCardia in the 2nd quarter worth approximately $40,000. DRW Securities LLC acquired a new stake in BioCardia in the 4th quarter valued at $72,000. Finally, Geode Capital Management LLC boosted its stake in BioCardia by 70.4% in the 4th quarter. Geode Capital Management LLC now owns 66,003 shares of the company’s stock valued at $83,000 after buying an additional 27,263 shares in the last quarter. 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.