Short Interest in BioCardia, Inc. (NASDAQ:BCDA) Increases By 111.0%

BioCardia, Inc. (NASDAQ:BCDA) was the target of a large growth in short interest in March. As of March 15th, there was short interest totalling 50,000 shares, a growth of 111.0% from the February 28th total of 23,700 shares. Based on an average daily trading volume, of 51,400 shares, the short-interest ratio is currently 1.0 days. Currently, 1.4% of the shares of the stock are short sold.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on BCDA. HC Wainwright restated a “buy” rating and issued a $25.00 price target on shares of BioCardia in a research report on Wednesday, December 18th. Alliance Global Partners upgraded shares of BioCardia from a “hold” rating to a “strong-buy” rating in a report on Thursday, January 30th.

BioCardia Stock Up 4.5 %

Shares of BioCardia stock opened at $2.80 on Friday. The stock’s fifty day moving average is $2.46 and its two-hundred day moving average is $2.41. BioCardia has a 52 week low of $1.63 and a 52 week high of $6.30. The company has a market capitalization of $13.10 million, a PE ratio of -0.67 and a beta of 1.28.

BioCardia (NASDAQ:BCDA) last announced its quarterly earnings data on Wednesday, March 26th. The company reported ($0.25) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.87) by $0.62. The company had revenue of $0.02 million for the quarter, compared to the consensus estimate of $0.02 million. During the same quarter in the previous year, the business earned ($8.19) EPS. As a group, research analysts anticipate that BioCardia will post -3.52 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Simon H. Stertzer acquired 22,753 shares of the stock in a transaction dated Monday, March 3rd. The stock was acquired at an average cost of $2.30 per share, with a total value of $52,331.90. Following the purchase, the director now directly owns 40,602 shares of the company’s stock, valued at approximately $93,384.60. This trade represents a 127.47 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders acquired 25,353 shares of company stock valued at $58,525 in the last three months. Corporate insiders own 20.00% of the company’s stock.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in BioCardia stock. CM Management LLC bought a new position in BioCardia, Inc. (NASDAQ:BCDA) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 25,000 shares of the company’s stock, valued at approximately $54,000. CM Management LLC owned 0.55% of BioCardia at the end of the most recent quarter. Institutional investors own 20.57% of the company’s stock.

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.