BioCardia (NASDAQ:BCDA) Lowered to Strong Sell Rating by Zacks Research

Zacks Research downgraded shares of BioCardia (NASDAQ:BCDA) from a hold rating to a strong sell rating in a report released on Monday morning,Zacks.com reports.

Several other research firms have also recently issued reports on BCDA. HC Wainwright reiterated a “buy” rating and set a $25.00 target price on shares of BioCardia in a research report on Tuesday, June 9th. Weiss Ratings reissued a “sell (e+)” rating on shares of BioCardia in a report on Monday, April 20th. One investment analyst has rated the stock with a Buy rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus price target of $25.00.

BioCardia Stock Performance

BCDA opened at $0.80 on Monday. The stock has a market cap of $9.13 million, a price-to-earnings ratio of -0.88 and a beta of 0.44. The firm’s fifty day moving average is $0.99 and its 200 day moving average is $1.15. BioCardia has a fifty-two week low of $0.78 and a fifty-two week high of $2.42.

BioCardia (NASDAQ:BCDA) last issued its quarterly earnings results on Friday, May 15th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.04). On average, equities research analysts predict that BioCardia will post -0.76 earnings per share for the current year.

Insider Transactions at BioCardia

In related news, Director Simon H. Stertzer purchased 39,000 shares of the firm’s stock in a transaction on Tuesday, June 23rd. The shares were acquired at an average price of $1.00 per share, for a total transaction of $39,000.00. Following the purchase, the director directly owned 166,338 shares in the company, valued at $166,338. This trade represents a 30.63% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In the last 90 days, insiders have acquired 146,900 shares of company stock valued at $140,092. Insiders own 17.40% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Cetera Investment Advisers purchased a new position in shares of BioCardia during the second quarter valued at about $40,000. DRW Securities LLC purchased a new stake in shares of BioCardia in the fourth quarter worth about $72,000. Finally, Geode Capital Management LLC lifted its position 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 buying an additional 27,263 shares in the last quarter. Institutional investors own 20.57% of the company’s stock.

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.