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

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

Insider Activity at BioCardia

In other BioCardia news, Director Simon H. Stertzer bought 22,753 shares of the company’s stock in a transaction on Monday, March 3rd. The shares were bought at an average cost of $2.30 per share, with a total value of $52,331.90. Following the completion of the acquisition, the director now 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders bought a total of 25,353 shares of company stock valued at $58,525 over the last three months. 20.00% of the stock is owned by insiders.

Institutional Trading of BioCardia

An institutional investor recently bought a new position in BioCardia stock. CM Management LLC bought a new position in BioCardia, Inc. (NASDAQ:BCDA) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 25,000 shares of the company’s stock, valued at approximately $54,000. CM Management LLC owned about 0.55% of BioCardia as of its most recent SEC filing. Institutional investors and hedge funds own 20.57% of the company’s stock.

BioCardia Trading Up 4.5 %

BCDA traded up $0.12 on Friday, reaching $2.80. The company had a trading volume of 139,822 shares, compared to its average volume of 274,648. The company has a market capitalization of $12.84 million, a P/E ratio of -0.67 and a beta of 1.28. The company has a fifty day moving average of $2.46 and a 200-day moving average of $2.42. BioCardia has a one year low of $1.63 and a one year high of $6.30.

BioCardia (NASDAQ:BCDA) last posted its quarterly earnings data on Wednesday, March 26th. The company reported ($0.25) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.87) by $0.62. The company had revenue of $0.02 million during the quarter, compared to the consensus estimate of $0.02 million. During the same quarter last year, the business earned ($8.19) earnings per share. Research analysts predict that BioCardia will post -3.52 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on BCDA. Alliance Global Partners raised shares of BioCardia from a “hold” rating to a “strong-buy” rating in a report on Thursday, January 30th. HC Wainwright restated a “buy” rating and issued a $25.00 target price on shares of BioCardia in a research report on Wednesday, December 18th.

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.