BioCardia (NASDAQ:BCDA) Raised to Sell at Wall Street Zen

BioCardia (NASDAQ:BCDA) was upgraded by equities researchers at Wall Street Zen to a “sell” rating in a research report issued to clients and investors on Saturday.

Other research analysts also recently issued research reports about the company. Weiss Ratings reiterated a “sell (e+)” rating on shares of BioCardia in a report on Monday, April 20th. Zacks Research downgraded BioCardia from a “hold” rating to a “strong sell” rating in a research note on Monday, July 13th. Finally, HC Wainwright restated a “buy” rating and set a $25.00 price objective on shares of BioCardia in a research report on Tuesday, June 9th. One research analyst has rated the stock with a Buy rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Reduce” and a consensus target price of $25.00.

BioCardia Stock Performance

BioCardia stock opened at $0.83 on Friday. The company has a 50 day moving average price of $0.97 and a 200 day moving average price of $1.14. BioCardia has a 52 week low of $0.78 and a 52 week high of $2.42. The firm has a market capitalization of $9.40 million, a price-to-earnings ratio of -0.91 and a beta of 0.44.

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

Insider Activity at BioCardia

In related news, Director Simon H. Stertzer purchased 70,200 shares of the stock in a transaction dated Monday, June 22nd. The shares were acquired at an average cost of $0.92 per share, for a total transaction of $64,584.00. Following the acquisition, the director directly owned 127,338 shares in the company, valued at approximately $117,150.96. The trade was a 122.86% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In the last 90 days, insiders have acquired 146,300 shares of company stock worth $139,354. Insiders own 17.40% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Cetera Investment Advisers purchased a new stake in shares of BioCardia during the 2nd quarter worth about $40,000. DRW Securities LLC acquired a new position in BioCardia in the fourth quarter worth approximately $72,000. Finally, Geode Capital Management LLC raised its position in BioCardia by 70.4% during the fourth quarter. Geode Capital Management LLC now owns 66,003 shares of the company’s stock valued at $83,000 after acquiring an additional 27,263 shares in the last quarter. 20.57% of the stock is owned by institutional investors and hedge funds.

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.