Short Interest in BioCardia, Inc. (NASDAQ:BCDA) Rises By 261.2%

BioCardia, Inc. (NASDAQ:BCDA) was the recipient of a large growth in short interest in July. As of July 15th, there was short interest totaling 1,342,893 shares, a growth of 261.2% from the June 30th total of 371,795 shares. Currently, 14.3% of the company’s shares are short sold. Based on an average daily volume of 509,766 shares, the days-to-cover ratio is currently 2.6 days.

BioCardia Stock Down 6.1%

Shares of BCDA traded down $0.05 during trading hours on Friday, reaching $0.85. The company’s stock had a trading volume of 129,553 shares, compared to its average volume of 472,194. The company has a 50 day moving average of $0.96 and a two-hundred day moving average of $1.13. The firm has a market cap of $9.67 million, a price-to-earnings ratio of -0.93 and a beta of 0.44. BioCardia has a 1-year low of $0.78 and a 1-year high of $2.40.

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

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Zacks Research downgraded shares of BioCardia from a “hold” rating to a “strong sell” rating in a research report on Monday, July 13th. Weiss Ratings restated a “sell (e+)” rating on shares of BioCardia in a research report on Friday, July 17th. Wall Street Zen raised shares of BioCardia to a “sell” rating in a research note on Saturday, July 18th. Finally, HC Wainwright reiterated a “buy” rating and set a $25.00 price objective on shares of BioCardia in a research report 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 company has a consensus rating of “Reduce” and an average price target of $25.00.

Insiders Place Their Bets

In related news, Director Simon H. Stertzer acquired 70,200 shares of the business’s stock in a transaction on Monday, June 22nd. The shares were purchased at an average price of $0.92 per share, for a total transaction of $64,584.00. Following the acquisition, the director owned 127,338 shares in the company, valued at approximately $117,150.96. This represents a 122.86% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Over the last 90 days, insiders bought 145,900 shares of company stock valued at $138,862. Company insiders own 17.40% of the company’s stock.

Institutional Investors Weigh In On BioCardia

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Cetera Investment Advisers acquired a new stake in shares of BioCardia during the 2nd quarter valued at $40,000. DRW Securities LLC acquired a new position in shares of BioCardia in the fourth quarter worth $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 acquiring an additional 27,263 shares during the last quarter. Hedge funds and other institutional investors own 20.57% of the company’s stock.

BioCardia Company Profile

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.