BioCardia, Inc. (NASDAQ:BCDA) Sees Significant Drop in Short Interest

BioCardia, Inc. (NASDAQ:BCDA) saw a large drop in short interest in the month of December. As of December 15th, there was short interest totalling 83,400 shares, a drop of 19.5% from the November 30th total of 103,600 shares. Approximately 2.2% of the shares of the stock are sold short. Based on an average trading volume of 55,000 shares, the short-interest ratio is currently 1.5 days.

Wall Street Analyst Weigh In

Separately, HC Wainwright reaffirmed a “buy” rating and issued a $25.00 price objective on shares of BioCardia in a research note on Wednesday, December 18th.

BioCardia Trading Up 1.9 %

Shares of BCDA stock traded up $0.04 during mid-day trading on Tuesday, reaching $2.19. The stock had a trading volume of 54,317 shares, compared to its average volume of 267,142. The company has a market cap of $10.04 million, a P/E ratio of -0.52 and a beta of 1.25. BioCardia has a 12-month low of $1.63 and a 12-month high of $10.79. The business has a 50-day simple moving average of $2.23 and a 200 day simple moving average of $2.65.

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.