BioCardia, Inc. (NASDAQ:BCDA) Sees Large Drop in Short Interest

BioCardia, Inc. (NASDAQ:BCDA) was the recipient of a significant decrease in short interest during the month of 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 trading volume, of 51,200 shares, the days-to-cover ratio is presently 0.5 days. Currently, 0.7% of the company’s stock are short sold.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on BCDA shares. HC Wainwright restated a “buy” rating and issued a $25.00 target price on shares of BioCardia in a report on Wednesday, December 18th. Alliance Global Partners upgraded shares of BioCardia from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 30th.

BioCardia Stock Down 0.8 %

NASDAQ:BCDA opened at $2.55 on Thursday. The company has a market capitalization of $11.69 million, a PE ratio of -0.61 and a beta of 1.28. BioCardia has a 52-week low of $1.63 and a 52-week high of $6.41. The stock’s 50 day moving average price is $2.37 and its 200 day moving average price is $2.42.

Insider Activity at BioCardia

In other BioCardia news, Director Simon H. Stertzer purchased 22,753 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was purchased at an average cost of $2.30 per share, with a total value 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. This trade represents a 127.47 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have acquired 26,353 shares of company stock valued at $60,585 over the last quarter. 20.00% of the stock is owned by insiders.

Hedge Funds Weigh In On BioCardia

An institutional investor recently bought a new position in BioCardia stock. CM Management LLC purchased a new position in shares of BioCardia, Inc. (NASDAQ:BCDA) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 25,000 shares of the company’s stock, valued at approximately $54,000. CM Management LLC owned 0.55% of BioCardia 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 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.