BioCardia (NASDAQ:BCDA) Trading Up 4.4% – Here’s Why

BioCardia, Inc. (NASDAQ:BCDA)’s stock price shot up 4.4% during mid-day trading on Monday . The company traded as high as $1.46 and last traded at $1.43. 83,477 shares changed hands during mid-day trading, an increase of 36% from the average session volume of 61,358 shares. The stock had previously closed at $1.37.

Analysts Set New Price Targets

BCDA has been the topic of several research reports. Zacks Research upgraded BioCardia to a “hold” rating in a research note on Tuesday, September 23rd. Weiss Ratings reissued a “sell (e+)” rating on shares of BioCardia in a report on Wednesday, October 8th. HC Wainwright restated a “buy” rating and issued a $25.00 price objective on shares of BioCardia in a research note on Monday, September 22nd. Finally, Wall Street Zen upgraded shares of BioCardia to a “sell” rating in a research report on Saturday, November 1st. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $25.00.

BioCardia Trading Up 4.4%

The business has a fifty day moving average of $1.37 and a 200-day moving average of $1.79. The firm has a market cap of $15.17 million, a PE ratio of -0.97 and a beta of 0.67.

BioCardia (NASDAQ:BCDA) last released its quarterly earnings data on Wednesday, November 12th. The company reported ($0.24) EPS for the quarter, beating analysts’ consensus estimates of ($0.25) by $0.01. On average, equities analysts forecast that BioCardia, Inc. will post -3.52 EPS for the current year.

Insider Activity

In other news, CEO Peter Altman purchased 48,000 shares of BioCardia stock in a transaction dated Friday, September 19th. The stock was purchased at an average cost of $1.25 per share, for a total transaction of $60,000.00. Following the transaction, the chief executive officer directly owned 216,762 shares of the company’s stock, valued at approximately $270,952.50. This trade represents a 28.44% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Andrew Scott Blank purchased 288,000 shares of the firm’s stock in a transaction dated Friday, September 19th. The stock was purchased at an average cost of $1.25 per share, for a total transaction of $360,000.00. Following the acquisition, the director owned 634,023 shares of the company’s stock, valued at approximately $792,528.75. This trade represents a 83.23% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders bought 734,400 shares of company stock worth $918,000 in the last three months. Corporate insiders own 17.40% of the company’s stock.

Institutional Trading of BioCardia

An institutional investor recently bought a new position in BioCardia stock. Cetera Investment Advisers acquired a new position in shares of BioCardia, Inc. (NASDAQ:BCDA) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 20,275 shares of the company’s stock, valued at approximately $40,000. Cetera Investment Advisers owned approximately 0.37% of BioCardia at the end of the most recent quarter. 20.57% of the stock is currently owned by hedge funds and other institutional investors.

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.