BioCardia (NASDAQ:BCDA) Upgraded by Zacks Research to “Hold” Rating

Zacks Research upgraded shares of BioCardia (NASDAQ:BCDA) from a strong sell rating to a hold rating in a research note issued to investors on Tuesday morning,Zacks.com reports.

Several other analysts have also recently commented on BCDA. Weiss Ratings reiterated a “sell (e+)” rating on shares of BioCardia in a research report on Friday, July 17th. Wall Street Zen upgraded BioCardia to a “sell” rating in a research report on Saturday, July 18th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $25.00 price objective on shares of BioCardia in a research note on Tuesday, June 9th. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $25.00.

BioCardia Stock Down 5.6%

Shares of BCDA opened at $0.88 on Tuesday. BioCardia has a 12-month low of $0.75 and a 12-month high of $2.29. The firm has a market capitalization of $10.01 million, a PE ratio of -0.97 and a beta of 0.48. The stock’s fifty day simple moving average is $0.94 and its 200-day simple moving average is $1.08.

BioCardia (NASDAQ:BCDA) last issued its earnings results on Wednesday, August 12th. The company reported ($0.13) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.18) by $0.05. Analysts anticipate that BioCardia will post -0.76 EPS for the current year.

Insider Transactions at BioCardia

In other news, Director Simon H. Stertzer bought 70,200 shares of the stock in a transaction on Monday, June 22nd. The stock was purchased at an average price of $0.92 per share, with a total value of $64,584.00. Following the completion of the purchase, the director owned 127,338 shares of the company’s stock, valued at approximately $117,150.96. This trade represents a 122.86% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders have purchased a total of 145,900 shares of company stock worth $137,212 in the last ninety days. 17.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On BioCardia

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Cetera Investment Advisers acquired a new position in shares of BioCardia in the 2nd quarter valued at $40,000. DRW Securities LLC acquired a new stake in BioCardia during the 4th quarter worth $72,000. Finally, Geode Capital Management LLC raised its stake in BioCardia by 70.4% during the 4th quarter. Geode Capital Management LLC now owns 66,003 shares of the company’s stock worth $83,000 after buying an additional 27,263 shares during the period. 20.57% of the stock is owned by institutional investors.

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.