BioCardia, Inc. (NASDAQ:BCDA) Short Interest Up 111.0% in March

BioCardia, Inc. (NASDAQ:BCDA) was the recipient of a large growth in short interest in the month of March. As of March 15th, there was short interest totalling 50,000 shares, a growth of 111.0% from the February 28th total of 23,700 shares. Approximately 1.4% of the company’s shares are short sold. Based on an average daily volume of 51,400 shares, the short-interest ratio is currently 1.0 days.

Analyst Upgrades and Downgrades

BCDA has been the subject of several research analyst reports. Alliance Global Partners raised BioCardia from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 30th. HC Wainwright reissued a “buy” rating and issued a $25.00 price target on shares of BioCardia in a research report on Wednesday, December 18th.

Insider Buying and Selling

In other BioCardia news, Director Simon H. Stertzer bought 22,753 shares of BioCardia stock in a transaction dated Monday, March 3rd. The stock was bought at an average price of $2.30 per share, for a total transaction of $52,331.90. Following the completion of the acquisition, the director now directly owns 40,602 shares of the company’s stock, valued at approximately $93,384.60. This trade represents a 127.47 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last 90 days, insiders bought 25,353 shares of company stock valued at $58,525. Company insiders own 20.00% of the company’s stock.

Institutional Inflows and Outflows

An institutional investor recently raised its position in BioCardia stock. Geode Capital Management LLC lifted its stake in BioCardia, Inc. (NASDAQ:BCDA) by 110.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 30,987 shares of the company’s stock after acquiring an additional 16,251 shares during the period. Geode Capital Management LLC owned approximately 0.68% of BioCardia worth $68,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 20.57% of the company’s stock.

BioCardia Stock Performance

Shares of BioCardia stock traded up $0.12 during midday trading on Friday, reaching $2.80. 139,822 shares of the company’s stock traded hands, compared to its average volume of 274,648. BioCardia has a 52 week low of $1.63 and a 52 week high of $6.30. The company’s 50 day simple moving average is $2.46 and its 200 day simple moving average is $2.42. The company has a market cap of $12.84 million, a price-to-earnings ratio of -0.67 and a beta of 1.28.

BioCardia (NASDAQ:BCDA) last announced its quarterly earnings results on Wednesday, March 26th. The company reported ($0.25) EPS for the quarter, beating the consensus estimate of ($0.87) by $0.62. The company had revenue of $0.02 million for the quarter, compared to analyst estimates of $0.02 million. During the same quarter last year, the business earned ($8.19) EPS. As a group, equities research analysts predict that BioCardia will post -3.52 earnings per share for the current year.

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.