BioCardia (NASDAQ:BCDA) Stock Rating Lowered by Zacks Research

BioCardia (NASDAQ:BCDA) was downgraded by stock analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a note issued to investors on Monday,Zacks.com reports.

Several other equities analysts also recently commented on the company. Weiss Ratings reiterated a “sell (e+)” rating on shares of BioCardia in a report on Monday, April 20th. HC Wainwright reaffirmed a “buy” rating and set a $25.00 price objective on shares of BioCardia in a report on Tuesday, June 9th. One investment analyst has rated the stock with a Buy rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Reduce” and an average price target of $25.00.

BioCardia Price Performance

Shares of BCDA stock opened at $0.80 on Monday. BioCardia has a fifty-two week low of $0.78 and a fifty-two week high of $2.42. The stock’s 50-day moving average is $0.99 and its two-hundred day moving average is $1.15. The firm has a market cap of $9.13 million, a P/E ratio of -0.88 and a beta of 0.44.

BioCardia (NASDAQ:BCDA) last issued its quarterly earnings data on Friday, May 15th. The company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of ($0.17) by ($0.04). As a group, research analysts expect that BioCardia will post -0.76 EPS for the current year.

Insider Activity at BioCardia

In other news, Director Simon H. Stertzer bought 39,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 23rd. The stock was acquired at an average cost of $1.00 per share, for a total transaction of $39,000.00. Following the completion of the purchase, the director owned 166,338 shares of the company’s stock, valued at $166,338. This trade represents a 30.63% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last ninety days, insiders purchased 146,900 shares of company stock valued at $140,092. 17.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On BioCardia

Hedge funds and other institutional investors have recently modified their holdings of the stock. Cetera Investment Advisers acquired a new position in BioCardia during the second quarter worth $40,000. DRW Securities LLC acquired a new stake in shares of BioCardia in the 4th quarter valued at $72,000. Finally, Geode Capital Management LLC boosted its stake in shares of BioCardia by 70.4% in the 4th quarter. Geode Capital Management LLC now owns 66,003 shares of the company’s stock valued at $83,000 after purchasing an additional 27,263 shares in the last quarter. 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.