Short Interest in BioCardia, Inc. (NASDAQ:BCDA) Drops By 57.8%

BioCardia, Inc. (NASDAQ:BCDA) saw a significant decrease in short interest in February. As of February 28th, there was short interest totalling 23,700 shares, a decrease of 57.8% from the February 13th total of 56,200 shares. Based on an average daily volume of 51,200 shares, the days-to-cover ratio is presently 0.5 days. Approximately 0.7% of the company’s shares are short sold.

Insider Buying and Selling

In other news, Director Simon H. Stertzer acquired 22,753 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The stock was purchased at an average cost of $2.30 per share, for a total transaction of $52,331.90. Following the completion of the acquisition, the director now directly owns 40,602 shares of the company’s stock, valued at $93,384.60. The trade was a 127.47 % increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders have bought a total of 26,353 shares of company stock valued at $60,585 over the last quarter. 20.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in BioCardia stock. Geode Capital Management LLC grew its position in BioCardia, Inc. (NASDAQ:BCDA) by 110.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 30,987 shares of the company’s stock after purchasing an additional 16,251 shares during the quarter. Geode Capital Management LLC owned about 0.68% of BioCardia worth $68,000 at the end of the most recent reporting period. 20.57% of the stock is currently owned by hedge funds and other institutional investors.

BioCardia Price Performance

BCDA opened at $2.60 on Friday. The firm has a market capitalization of $11.92 million, a PE ratio of -0.62 and a beta of 1.28. The business’s 50-day moving average is $2.38 and its two-hundred day moving average is $2.42. BioCardia has a 1 year low of $1.63 and a 1 year high of $6.41.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on BCDA shares. Alliance Global Partners upgraded shares of BioCardia from a “hold” rating to a “strong-buy” rating in a report on Thursday, January 30th. HC Wainwright reissued a “buy” rating and issued a $25.00 price objective on shares of BioCardia in a research note 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.