BioCardia (NASDAQ:BCDA) Stock Rating Upgraded by Zacks Research

BioCardia (NASDAQ:BCDA) was upgraded by research analysts at Zacks Research to a “hold” rating in a report issued on Tuesday,Zacks.com reports.

Separately, HC Wainwright reaffirmed a “buy” rating and issued a $25.00 price objective on shares of BioCardia in a research note on Monday. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $25.00.

BioCardia Price Performance

Shares of BCDA opened at $1.48 on Tuesday. The business has a 50-day moving average of $1.94 and a 200-day moving average of $2.16. The company has a market capitalization of $8.60 million, a price-to-earnings ratio of -0.80 and a beta of 0.85. BioCardia has a 1 year low of $1.00 and a 1 year high of $3.20.

BioCardia (NASDAQ:BCDA) last announced its earnings results on Monday, August 11th. The company reported ($0.40) EPS for the quarter, beating the consensus estimate of ($0.50) by $0.10. As a group, sell-side analysts anticipate that BioCardia will post -3.52 EPS for the current year.

Insider Transactions at BioCardia

In related news, Director Andrew Scott Blank purchased 288,000 shares of BioCardia stock in a transaction on Friday, September 19th. The stock was acquired at an average cost of $1.25 per share, for a total transaction of $360,000.00. Following the completion of the acquisition, the director owned 634,023 shares of the company’s stock, valued at $792,528.75. This trade represents a 83.23% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Peter Altman purchased 48,000 shares of the firm’s stock in a transaction on Friday, September 19th. The stock was bought at an average cost of $1.25 per share, with a total value of $60,000.00. Following the completion of the purchase, the chief executive officer owned 216,762 shares of the company’s stock, valued at approximately $270,952.50. This represents a 28.44% increase in their position. The disclosure for this purchase can be found here. Insiders purchased a total of 910,793 shares of company stock valued at $1,284,021 in the last quarter. 20.00% of the stock is currently owned by company insiders.

Institutional Trading of BioCardia

Several large investors have recently made changes to their positions in BCDA. CM Management LLC increased its holdings in shares of BioCardia by 200.0% during the first quarter. CM Management LLC now owns 75,000 shares of the company’s stock valued at $190,000 after acquiring an additional 50,000 shares in the last quarter. Brown Advisory Inc. acquired a new position in BioCardia during the 1st quarter valued at about $90,000. Finally, Cetera Investment Advisers purchased a new stake in shares of BioCardia in the second quarter worth approximately $40,000. 20.57% of the stock is currently owned by institutional investors and hedge funds.

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.