Short Interest in BioCardia, Inc. (NASDAQ:BCDA) Drops By 38.1%

BioCardia, Inc. (NASDAQ:BCDA – Get Rating) saw a large decrease in short interest in the month of May. As of May 15th, there was short interest totalling 388,200 shares, a decrease of 38.1% from the April 30th total of 627,000 shares. Based on an average trading volume of 703,800 shares, the days-to-cover ratio is presently 0.6 days. Currently, 3.0% of the company’s shares are short sold.

Several equities research analysts recently weighed in on the company. Maxim Group dropped their target price on BioCardia to $4.00 in a report on Thursday. Brookline Capital Management reiterated a “buy” rating on shares of BioCardia in a report on Thursday, February 3rd. Finally, Zacks Investment Research upgraded BioCardia from a “sell” rating to a “hold” rating in a report on Monday, April 11th.

NASDAQ BCDA opened at $1.66 on Friday. BioCardia has a fifty-two week low of $1.10 and a fifty-two week high of $5.10. The stock has a 50 day simple moving average of $1.72 and a two-hundred day simple moving average of $1.92. The stock has a market cap of $28.96 million, a P/E ratio of -2.18 and a beta of 1.40.

BioCardia (NASDAQ:BCDA – Get Rating) last released its quarterly earnings data on Tuesday, March 29th. The company reported ($0.21) earnings per share for the quarter, hitting the consensus estimate of ($0.21). BioCardia had a negative return on equity of 110.86% and a negative net margin of 1,261.32%. The business had revenue of $0.08 million during the quarter, compared to analysts’ expectations of $0.05 million. During the same quarter last year, the business posted ($0.16) EPS. Equities analysts forecast that BioCardia will post -0.72 EPS for the current year.

Several large investors have recently made changes to their positions in BCDA. Renaissance Technologies LLC bought a new position in shares of BioCardia in the 1st quarter worth approximately $28,000. Millennium Management LLC bought a new position in shares of BioCardia in the 3rd quarter worth approximately $31,000. Dimensional Fund Advisors LP bought a new position in shares of BioCardia in the 1st quarter worth approximately $57,000. Commonwealth Equity Services LLC raised its position in shares of BioCardia by 156.5% in the 4th quarter. Commonwealth Equity Services LLC now owns 42,307 shares of the company’s stock worth $82,000 after acquiring an additional 25,815 shares in the last quarter. Finally, Virtu Financial LLC bought a new position in shares of BioCardia in the 4th quarter worth approximately $109,000. 15.40% of the stock is owned by hedge funds and other institutional investors.

About BioCardia (Get Rating)

BioCardia, Inc, a clinical-stage regenerative medicine company, develops cellular and cell-derived therapeutics for cardiovascular and pulmonary diseases. Its lead therapeutic candidate is the CardiAMP Cell Therapy System for the treatment of heart failure and chronic myocardial ischemia; and allogeneic cell therapy for cardiac and pulmonary disease.

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