BioCardia (NASDAQ:BCDA) Stock Price Up 3.1% – Still a Buy?

BioCardia, Inc. (NASDAQ:BCDA)’s stock price was up 3.1% during mid-day trading on Tuesday . The stock traded as high as $1.1750 and last traded at $1.1650. Approximately 33,354 shares were traded during trading, a decline of 46% from the average daily volume of 61,258 shares. The stock had previously closed at $1.13.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on BCDA shares. Weiss Ratings reiterated a “sell (e+)” rating on shares of BioCardia in a research report on Wednesday, January 21st. Wall Street Zen upgraded BioCardia to a “sell” rating in a research report on Saturday, November 1st. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, BioCardia presently has a consensus rating of “Hold” and an average price target of $25.00.

BioCardia Stock Performance

The business has a 50 day simple moving average of $1.26 and a two-hundred day simple moving average of $1.44. The firm has a market capitalization of $13.16 million, a P/E ratio of -0.84 and a beta of 0.61.

Hedge Funds Weigh In On BioCardia

A number of institutional investors have recently made changes to their positions in the stock. DRW Securities LLC purchased a new stake in shares of BioCardia during the 4th quarter valued at $72,000. Geode Capital Management LLC increased its stake in BioCardia by 70.4% in the fourth quarter. Geode Capital Management LLC now owns 66,003 shares of the company’s stock valued at $83,000 after acquiring an additional 27,263 shares during the last quarter. Finally, Cetera Investment Advisers purchased a new stake in BioCardia during the second quarter valued at about $40,000. Institutional investors own 20.57% of the company’s stock.

About BioCardia

BioCardia, Inc is a clinical-stage biotechnology company dedicated to developing novel cell-based therapies for patients with cardiovascular disease. The company’s core focus lies in advancing regenerative medicine approaches that address both chronic heart failure and acute myocardial infarction. BioCardia leverages proprietary delivery technologies to optimize the targeted administration of therapeutic cells directly into the heart muscle.

The company’s flagship products include the Helix Transendocardial Delivery System and the CardiAMP Cell Therapy System.