BioCardia, Inc. (NASDAQ:BCDA) Short Interest Up 85.3% in September

BioCardia, Inc. (NASDAQ:BCDA) was the recipient of a large increase in short interest in the month of September. As of September 30th, there was short interest totaling 198,800 shares, an increase of 85.3% from the September 15th total of 107,300 shares. Approximately 2.7% of the shares of the company are sold short. Based on an average daily volume of 722,000 shares, the short-interest ratio is presently 0.3 days. Based on an average daily volume of 722,000 shares, the short-interest ratio is presently 0.3 days. Approximately 2.7% of the shares of the company are sold short.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. HC Wainwright restated a “buy” rating and set a $25.00 price objective on shares of BioCardia in a research report on Monday, September 22nd. Zacks Research upgraded shares of BioCardia to a “hold” rating in a report on Tuesday, September 23rd. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of BioCardia in a report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $25.00.

BioCardia Stock Up 1.4%

Shares of BCDA stock opened at $1.49 on Wednesday. The stock has a market cap of $8.66 million, a price-to-earnings ratio of -0.81 and a beta of 0.80. BioCardia has a fifty-two week low of $1.00 and a fifty-two week high of $3.20. The firm’s 50 day moving average price is $1.68 and its two-hundred day moving average price is $2.01.

BioCardia (NASDAQ:BCDA) last announced its quarterly earnings results on Monday, August 11th. The company reported ($0.40) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.50) by $0.10. On average, equities analysts forecast that BioCardia will post -3.52 EPS for the current fiscal year.

Insider Buying and Selling

In other BioCardia news, Director Simon H. Stertzer purchased 398,400 shares of the firm’s stock in a transaction that occurred on Friday, September 19th. The stock was purchased at an average price of $1.25 per share, for a total transaction of $498,000.00. Following the purchase, the director directly owned 591,054 shares in the company, valued at approximately $738,817.50. This trade represents a 206.80% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Andrew Scott Blank purchased 288,000 shares of the firm’s stock in a transaction that occurred on Friday, September 19th. The shares were acquired at an average price of $1.25 per share, with a total value of $360,000.00. Following the purchase, the director owned 634,023 shares in the company, valued at $792,528.75. This trade represents a 83.23% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired a total of 737,300 shares of company stock worth $923,156 in the last 90 days. Company insiders own 20.00% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Brown Advisory Inc. acquired a new position in BioCardia during the first quarter valued at approximately $90,000. CM Management LLC lifted its position in shares of BioCardia by 200.0% during the first quarter. CM Management LLC now owns 75,000 shares of the company’s stock worth $190,000 after purchasing an additional 50,000 shares in the last quarter. Finally, Cetera Investment Advisers acquired a new position in shares of BioCardia during the second quarter worth $40,000. 20.57% of the stock is owned by institutional investors and hedge funds.

BioCardia Company Profile

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.