BioCardia (NASDAQ:BCDA) Shares Scheduled to Reverse Split on Thursday, May 30th

BioCardia, Inc. (NASDAQ:BCDA) shares are set to reverse split on the morning of Thursday, May 30th. The 1-15 reverse split was announced on Thursday, May 30th. The number of shares owned by shareholders will be adjusted after the market closes on Thursday, May 30th.

BioCardia Price Performance

BCDA stock opened at $0.35 on Friday. The firm has a market capitalization of $9.45 million, a P/E ratio of -0.74 and a beta of 1.47. The business’s 50-day moving average is $0.39 and its two-hundred day moving average is $0.50. BioCardia has a 1 year low of $0.30 and a 1 year high of $2.92.

BioCardia (NASDAQ:BCDA) last posted its quarterly earnings results on Tuesday, May 14th. The company reported ($0.09) earnings per share (EPS) for the quarter. The company had revenue of $0.06 million during the quarter. BioCardia had a negative net margin of 2,208.76% and a negative return on equity of 3,638.68%. During the same quarter in the prior year, the company earned ($0.17) earnings per share. On average, analysts expect that BioCardia will post -0.42 EPS for the current year.

Institutional Investors Weigh In On BioCardia

A hedge fund recently raised its stake in BioCardia stock. CM Management LLC grew its holdings in BioCardia, Inc. (NASDAQ:BCDA) by 74.9% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 600,000 shares of the company’s stock after acquiring an additional 257,000 shares during the quarter. CM Management LLC owned about 2.78% of BioCardia worth $258,000 at the end of the most recent reporting period. 20.57% of the stock is owned by hedge funds and other institutional investors.

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 leading 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.