Wall Street Zen Upgrades BioCardia (NASDAQ:BCDA) to “Hold”

BioCardia (NASDAQ:BCDA) was upgraded by Wall Street Zen from a “sell” rating to a “hold” rating in a note issued to investors on Saturday.

A number of other brokerages have also recently issued reports on BCDA. HC Wainwright reissued a “buy” rating and issued a $25.00 price objective on shares of BioCardia in a research note on Tuesday, June 9th. Zacks Research upgraded BioCardia from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 11th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of BioCardia in a research note on Friday, July 17th. 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’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $25.00.

BioCardia Price Performance

Shares of BioCardia stock opened at $0.97 on Friday. The stock has a market capitalization of $11.08 million, a price-to-earnings ratio of -1.52 and a beta of 0.49. BioCardia has a twelve month low of $0.75 and a twelve month high of $2.29. The company has a 50-day simple moving average of $0.94 and a two-hundred day simple moving average of $1.08.

BioCardia (NASDAQ:BCDA) last released its earnings results on Wednesday, August 12th. The company reported ($0.13) EPS for the quarter, beating the consensus estimate of ($0.18) by $0.05. On average, sell-side analysts anticipate that BioCardia will post -0.71 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Simon H. Stertzer bought 39,000 shares of the firm’s stock in a transaction on Tuesday, June 23rd. The shares were purchased at an average price of $1.00 per share, with a total value of $39,000.00. Following the completion of the purchase, the director owned 166,338 shares in the company, valued at $166,338. This represents a 30.63% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Insiders have purchased a total of 137,000 shares of company stock valued at $128,514 in the last quarter. Company insiders own 17.40% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Cetera Investment Advisers bought a new stake in BioCardia during the 2nd quarter worth $40,000. Geode Capital Management LLC raised its position 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 purchasing an additional 27,263 shares during the last quarter. Finally, DRW Securities LLC bought a new position in BioCardia in the fourth quarter valued at about $72,000. 20.57% of the stock is currently owned by institutional investors.

BioCardia Company Profile

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.