BioCardia (NASDAQ:BCDA) Raised to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of BioCardia (NASDAQ:BCDA) from a sell rating to a hold rating in a research note published on Monday, reports.

According to Zacks, “BioCardia Inc. is engaged in developing regenerative biologic therapies to treat cardiovascular disease. The company’s product candidate consists of CardiAMP(TM), CardiALLO(TM) and Helix Biotherapeutic Delivery System(TM) in clinical development stage. BioCardia Inc. is headquartered in San Carlos, California. “

Separately, Dawson James reaffirmed a neutral rating on shares of BioCardia in a report on Thursday, April 22nd.

BCDA opened at $4.40 on Monday. BioCardia has a fifty-two week low of $1.91 and a fifty-two week high of $8.60. The firm has a fifty day moving average price of $3.91. The stock has a market capitalization of $73.89 million, a PE ratio of -4.00 and a beta of 1.82.

BioCardia (NASDAQ:BCDA) last released its quarterly earnings data on Thursday, May 13th. The company reported ($0.18) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.04. BioCardia had a negative net margin of 8,744.45% and a negative return on equity of 108.90%. As a group, analysts predict that BioCardia will post -0.85 EPS for the current year.

Several hedge funds have recently added to or reduced their stakes in BCDA. CM Management LLC purchased a new stake in shares of BioCardia during the fourth quarter worth about $796,000. Bank of New York Mellon Corp purchased a new stake in shares of BioCardia during the fourth quarter worth about $56,000. Geode Capital Management LLC increased its stake in shares of BioCardia by 175.6% during the first quarter. Geode Capital Management LLC now owns 62,168 shares of the company’s stock worth $269,000 after purchasing an additional 39,611 shares in the last quarter. Renaissance Technologies LLC purchased a new stake in shares of BioCardia during the first quarter worth about $1,325,000. Finally, Squarepoint Ops LLC acquired a new position in BioCardia during the first quarter worth about $204,000. 18.57% of the stock is owned by institutional investors and hedge funds.

About BioCardia

BioCardia, Inc, a clinical-stage regenerative medicine company, develops therapeutics for cardiovascular diseases. Its lead therapeutic candidate is the CardiAMP Cell Therapy System for the treatment of heart failure and chronic myocardial ischemia; and ALLOGENEIC cell therapy for cardiac and pulmonary disease.

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