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

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

Insider Activity at BioCardia

In related news, Director Simon H. Stertzer acquired 22,753 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The stock was purchased at an average cost of $2.30 per share, for a total transaction of $52,331.90. Following the purchase, the director now directly owns 40,602 shares of the company’s stock, valued at $93,384.60. This trade represents a 127.47 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders have acquired a total of 25,353 shares of company stock valued at $58,525 over the last ninety days. 20.00% of the stock is owned by company insiders.

Institutional Trading of BioCardia

A hedge fund recently bought a new stake in BioCardia stock. CM Management LLC acquired a new position in shares of BioCardia, Inc. (NASDAQ:BCDA) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 25,000 shares of the company’s stock, valued at approximately $54,000. CM Management LLC owned 0.55% of BioCardia at the end of the most recent quarter. 20.57% of the stock is owned by institutional investors.

BioCardia Price Performance

BioCardia stock opened at $2.80 on Friday. BioCardia has a 1-year low of $1.63 and a 1-year high of $6.30. The business has a fifty day moving average price of $2.46 and a 200-day moving average price of $2.41. The stock has a market capitalization of $13.10 million, a price-to-earnings ratio of -0.67 and a beta of 1.28.

BioCardia (NASDAQ:BCDA) last issued its quarterly earnings results on Wednesday, March 26th. The company reported ($0.25) earnings per share for the quarter, topping the consensus estimate of ($0.87) by $0.62. The business had revenue of $0.02 million during the quarter, compared to analyst estimates of $0.02 million. During the same period in the prior year, the business posted ($8.19) EPS. On average, equities research analysts anticipate that BioCardia will post -3.52 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have commented on BCDA shares. Alliance Global Partners raised shares of BioCardia from a “hold” rating to a “strong-buy” rating in a research report on Thursday, January 30th. HC Wainwright reissued a “buy” rating and set a $25.00 target price on shares of BioCardia in a research report on Wednesday, December 18th.

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.