Short Interest in BioCardia, Inc. (NASDAQ:BCDA) Drops By 38.8%

BioCardia, Inc. (NASDAQ:BCDA) was the recipient of a significant decline in short interest in the month of July. As of July 15th, there was short interest totalling 29,400 shares, a decline of 38.8% from the June 30th total of 48,000 shares. Based on an average trading volume of 150,600 shares, the days-to-cover ratio is currently 0.2 days. Currently, 2.3% of the shares of the company are short sold.

BioCardia Stock Performance

Shares of BCDA stock traded up $0.04 during trading hours on Friday, reaching $2.99. The company had a trading volume of 19,967 shares, compared to its average volume of 77,107. The business has a fifty day moving average price of $3.66 and a 200-day moving average price of $5.52. BioCardia has a one year low of $2.62 and a one year high of $23.25. The firm has a market cap of $5.44 million, a PE ratio of -0.42 and a beta of 1.37.

BioCardia (NASDAQ:BCDA) last announced its quarterly earnings results on Tuesday, May 14th. The company reported ($1.35) EPS for the quarter. BioCardia had a negative return on equity of 3,638.68% and a negative net margin of 2,208.76%. The company had revenue of $0.06 million during the quarter. During the same period in the previous year, the company earned ($2.55) EPS. Equities research analysts forecast that BioCardia will post -6.3 EPS for the current year.

Analyst Ratings Changes

Separately, HC Wainwright reiterated a “buy” rating and issued a $4.00 price target on shares of BioCardia in a research note on Friday.

About BioCardia

BioCardia, Inc, a clinical-stage regenerative medicine company, develops cellular and cell-derived therapeutics for cardiovascular and pulmonary diseases in the United States. Its leading 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.