BioCardia, Inc. (NASDAQ:BCDA) Sees Large Growth in Short Interest

BioCardia, Inc. (NASDAQ:BCDA) saw a large increase in short interest during the month of July. As of July 15th, there was short interest totaling 1,342,893 shares, an increase of 261.2% from the June 30th total of 371,795 shares. Approximately 14.3% of the shares of the company are short sold. Based on an average daily volume of 509,766 shares, the short-interest ratio is presently 2.6 days.

Insider Transactions at BioCardia

In related news, Director Simon H. Stertzer purchased 70,200 shares of the business’s stock in a transaction on Monday, June 22nd. The shares were acquired at an average price of $0.92 per share, for a total transaction of $64,584.00. Following the purchase, the director owned 127,338 shares of the company’s stock, valued at $117,150.96. This trade represents a 122.86% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last quarter, insiders have purchased 145,900 shares of company stock worth $138,862. Corporate insiders own 17.40% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. DRW Securities LLC purchased a new stake in shares of BioCardia during the 4th quarter worth about $72,000. Geode Capital Management LLC raised its holdings in BioCardia by 70.4% in the 4th quarter. Geode Capital Management LLC now owns 66,003 shares of the company’s stock worth $83,000 after purchasing an additional 27,263 shares during the period. Finally, Cetera Investment Advisers acquired a new position in BioCardia in the 2nd quarter worth about $40,000. Hedge funds and other institutional investors own 20.57% of the company’s stock.

BioCardia Stock Performance

BioCardia stock traded down $0.03 during midday trading on Tuesday, hitting $0.78. 105,430 shares of the company were exchanged, compared to its average volume of 1,409,682. The business has a fifty day simple moving average of $0.95 and a two-hundred day simple moving average of $1.12. The firm has a market capitalization of $8.82 million, a PE ratio of -0.85 and a beta of 0.44. BioCardia has a fifty-two week low of $0.75 and a fifty-two week high of $2.32.

BioCardia (NASDAQ:BCDA) last announced 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). As a group, equities analysts expect that BioCardia will post -0.76 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on BCDA shares. HC Wainwright reiterated a “buy” rating and set a $25.00 price target on shares of BioCardia in a research note on Tuesday, June 9th. Zacks Research downgraded BioCardia from a “hold” rating to a “strong sell” rating in a report on Monday, July 13th. Wall Street Zen upgraded shares of BioCardia to a “sell” rating in a report on Saturday, July 18th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of BioCardia in a research report on Friday, July 17th. One research analyst has rated the stock with a Buy rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Reduce” and a consensus price target of $25.00.

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.