BioCardia (NASDAQ:BCDA) Upgraded to “Hold” at Wall Street Zen

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

A number of other analysts have also recently issued reports on BCDA. Weiss Ratings reiterated a “sell (e+)” rating on shares of BioCardia in a report on Friday, July 17th. HC Wainwright reissued a “buy” rating and set a $25.00 target price on shares of BioCardia in a research report on Tuesday, June 9th. Finally, Zacks Research upgraded shares of BioCardia from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 11th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $25.00.

BioCardia Stock Up 4.8%

NASDAQ BCDA opened at $0.97 on Friday. The stock has a market cap of $11.08 million, a price-to-earnings ratio of -1.52 and a beta of 0.48. The business has a fifty day moving average of $0.94 and a 200-day moving average of $1.08. BioCardia has a fifty-two week low of $0.75 and a fifty-two week high of $2.29.

BioCardia (NASDAQ:BCDA) last issued its quarterly earnings results on Wednesday, August 12th. The company reported ($0.13) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.05. As a group, analysts anticipate that BioCardia will post -0.71 EPS for the current year.

Insider Transactions at BioCardia

In related news, Director Simon H. Stertzer acquired 39,000 shares of the business’s stock in a transaction on Tuesday, June 23rd. The shares were bought at an average cost of $1.00 per share, with a total value of $39,000.00. Following the completion of the transaction, the director directly owned 166,338 shares of the company’s stock, valued at $166,338. This trade represents a 30.63% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last three months, insiders acquired 142,700 shares of company stock valued at $133,758. 17.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On BioCardia

Several institutional investors and hedge funds have recently modified their holdings of the stock. Geode Capital Management LLC grew its stake in shares of BioCardia by 70.4% in the fourth quarter. Geode Capital Management LLC now owns 66,003 shares of the company’s stock valued at $83,000 after buying an additional 27,263 shares in the last quarter. DRW Securities LLC acquired a new position in BioCardia during the 4th quarter worth approximately $72,000. Finally, Cetera Investment Advisers acquired a new position in BioCardia during the 2nd quarter worth approximately $40,000. Hedge funds and other institutional investors own 20.57% of the company’s stock.

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.