BioCardia (NASDAQ:BCDA) Releases Quarterly Earnings Results, Beats Expectations By $0.01 EPS

BioCardia (NASDAQ:BCDA) released its quarterly earnings results on Wednesday. The company reported ($0.24) earnings per share for the quarter, topping the consensus estimate of ($0.25) by $0.01, FiscalAI reports.

BioCardia Trading Down 0.8%

NASDAQ:BCDA traded down $0.01 during mid-day trading on Friday, reaching $1.25. 20,706 shares of the stock were exchanged, compared to its average volume of 287,497. BioCardia has a 1-year low of $1.00 and a 1-year high of $3.20. The firm has a market capitalization of $13.27 million, a PE ratio of -0.68 and a beta of 0.78. The business has a fifty day moving average price of $1.48 and a 200 day moving average price of $1.94.

Analyst Ratings Changes

A number of equities analysts have recently commented on BCDA shares. Weiss Ratings restated a “sell (e+)” rating on shares of BioCardia in a report on Wednesday, October 8th. Zacks Research raised shares of BioCardia to a “hold” rating in a research report on Tuesday, September 23rd. HC Wainwright reiterated a “buy” rating and set a $25.00 target price on shares of BioCardia in a research note on Monday, September 22nd. Finally, Wall Street Zen upgraded shares of BioCardia to a “sell” rating in a research note on Saturday, November 1st. 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 given a Sell rating to the stock. Based on data from MarketBeat, BioCardia currently has an average rating of “Moderate Buy” and an average price target of $25.00.

Insider Activity at BioCardia

In other BioCardia news, CEO Peter Altman bought 48,000 shares of BioCardia stock in a transaction on Friday, September 19th. The stock was purchased at an average cost of $1.25 per share, for a total transaction of $60,000.00. Following the completion of the purchase, the chief executive officer directly owned 216,762 shares of the company’s stock, valued at $270,952.50. The trade was a 28.44% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Andrew Scott Blank acquired 288,000 shares of the stock in a transaction dated Friday, September 19th. The shares were bought at an average cost of $1.25 per share, for a total transaction of $360,000.00. Following the acquisition, the director owned 634,023 shares in the company, valued at $792,528.75. The trade was a 83.23% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders bought 735,100 shares of company stock worth $919,281. 17.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On BioCardia

A hedge fund recently bought a new stake in BioCardia stock. Cetera Investment Advisers acquired a new stake in shares of BioCardia, Inc. (NASDAQ:BCDA) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 20,275 shares of the company’s stock, valued at approximately $40,000. Cetera Investment Advisers owned about 0.37% of BioCardia as of its most recent filing with the Securities & Exchange Commission. Hedge funds and other institutional investors own 20.57% of the company’s stock.

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.