BioCardia (NASDAQ:BCDA) Rating Increased to Sell at Wall Street Zen

Wall Street Zen upgraded shares of BioCardia (NASDAQ:BCDA) to a sell rating in a research note published on Saturday morning.

Other research analysts have also issued research reports about the stock. Weiss Ratings restated a “sell (e+)” rating on shares of BioCardia in a research report on Wednesday, October 8th. HC Wainwright restated a “buy” rating and issued a $25.00 price target on shares of BioCardia in a research report on Monday, September 22nd. Finally, Zacks Research upgraded shares of BioCardia to a “hold” rating in a research report on Tuesday, September 23rd. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $25.00.

BioCardia Stock Performance

BioCardia stock opened at $1.40 on Friday. The firm has a market cap of $8.13 million, a price-to-earnings ratio of -0.76 and a beta of 0.80. BioCardia has a 1 year low of $1.00 and a 1 year high of $3.20. The firm’s 50 day moving average price is $1.60 and its two-hundred day moving average price is $1.98.

BioCardia (NASDAQ:BCDA) last posted its quarterly earnings results on Monday, August 11th. The company reported ($0.40) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.50) by $0.10. As a group, equities analysts predict that BioCardia will post -3.52 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Andrew Scott Blank acquired 288,000 shares of the stock in a transaction on Friday, September 19th. The shares were purchased at an average cost of $1.25 per share, for a total transaction of $360,000.00. Following the transaction, the director owned 634,023 shares in the company, valued at approximately $792,528.75. This trade represents a 83.23% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Simon H. Stertzer acquired 398,400 shares of the stock in a transaction on Friday, September 19th. The shares were purchased at an average price of $1.25 per share, for a total transaction of $498,000.00. Following the completion of the transaction, the director owned 591,054 shares in the company, valued at approximately $738,817.50. This represents a 206.80% increase in their position. The SEC filing for this purchase provides additional information. In the last three months, insiders have bought 737,300 shares of company stock worth $923,156. Corporate insiders own 20.00% of the company’s stock.

Hedge Funds Weigh In On BioCardia

Institutional investors and hedge funds have recently modified their holdings of the stock. Cetera Investment Advisers purchased a new position in shares of BioCardia during the 2nd quarter valued at $40,000. Brown Advisory Inc. purchased a new position in shares of BioCardia during the 1st quarter valued at $90,000. Finally, CM Management LLC grew its holdings in shares of BioCardia by 200.0% during the 1st 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. 20.57% of the stock is currently owned by hedge funds and other institutional investors.

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.