BioCardia (NASDAQ:BCDA) Announces Quarterly Earnings Results

BioCardia (NASDAQ:BCDA) issued its quarterly earnings results on Wednesday. The company reported ($0.13) EPS for the quarter, topping the consensus estimate of ($0.18) by $0.05, FiscalAI reports.

BioCardia Trading Down 5.6%

Shares of BCDA traded down $0.05 during midday trading on Wednesday, hitting $0.88. The stock had a trading volume of 192,787 shares, compared to its average volume of 1,329,256. BioCardia has a fifty-two week low of $0.75 and a fifty-two week high of $2.29. The business has a 50-day simple moving average of $0.94 and a two-hundred day simple moving average of $1.08. The firm has a market cap of $10.01 million, a P/E ratio of -0.97 and a beta of 0.48.

Insider Activity

In other news, Director Simon H. Stertzer acquired 39,000 shares of the stock in a transaction on Tuesday, June 23rd. The shares were purchased at an average cost of $1.00 per share, for a total transaction of $39,000.00. Following the transaction, the director owned 166,338 shares in the company, valued at approximately $166,338. This trade represents a 30.63% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have purchased a total of 145,900 shares of company stock worth $137,212 in the last quarter. 17.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of BCDA. Cetera Investment Advisers acquired a new stake in BioCardia during the 2nd quarter worth about $40,000. DRW Securities LLC acquired a new stake in shares of BioCardia during the fourth quarter worth approximately $72,000. Finally, Geode Capital Management LLC boosted its holdings in shares of BioCardia by 70.4% during the fourth quarter. Geode Capital Management LLC now owns 66,003 shares of the company’s stock worth $83,000 after purchasing an additional 27,263 shares during the period. 20.57% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently commented on BCDA shares. Zacks Research lowered shares of BioCardia from a “hold” rating to a “strong sell” rating in a research note on Monday, July 13th. Weiss Ratings restated a “sell (e+)” rating on shares of BioCardia in a research report on Friday, July 17th. HC Wainwright reaffirmed a “buy” rating and issued a $25.00 price target on shares of BioCardia in a report on Tuesday, June 9th. Finally, Wall Street Zen raised BioCardia to a “sell” rating in a research note on Saturday, July 18th. One analyst has rated the stock with a Buy rating and two have issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Reduce” and an average target price of $25.00.

About BioCardia

BioCardia, Inc is a clinical-stage biotechnology company dedicated to developing novel cell-based therapies for patients with cardiovascular disease. The company’s core focus lies in advancing regenerative medicine approaches that address both chronic heart failure and acute myocardial infarction. BioCardia leverages proprietary delivery technologies to optimize the targeted administration of therapeutic cells directly into the heart muscle.

The company’s flagship products include the Helix Transendocardial Delivery System and the CardiAMP Cell Therapy System.