BioCardia (NASDAQ:BCDA) Releases Earnings Results, Beats Expectations By $0.62 EPS

BioCardia (NASDAQ:BCDA) announced its earnings results on Wednesday. The company reported ($0.25) earnings per share for the quarter, beating the consensus estimate of ($0.87) by $0.62, Zacks reports.

BioCardia Stock Performance

BCDA traded down $0.08 during trading on Wednesday, reaching $2.55. The company had a trading volume of 39,519 shares, compared to its average volume of 272,901. The firm’s 50-day simple moving average is $2.43 and its 200 day simple moving average is $2.41. The company has a market cap of $11.69 million, a price-to-earnings ratio of -0.61 and a beta of 1.28. BioCardia has a 12-month low of $1.63 and a 12-month high of $6.41.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Alliance Global Partners raised shares of BioCardia from a “hold” rating to a “strong-buy” rating in a report on Thursday, January 30th. HC Wainwright restated 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 at BioCardia

In other news, Director Simon H. Stertzer purchased 22,753 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were acquired 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 $93,384.60. The trade was a 127.47 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Over the last ninety days, insiders bought 25,353 shares of company stock valued at $58,525. 20.00% of the stock is currently owned by corporate insiders.

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.