BioCardia, Inc. (NASDAQ:BCDA) Short Interest Up 319.8% in August

BioCardia, Inc. (NASDAQ:BCDA) was the recipient of a large increase in short interest in August. As of August 15th, there was short interest totaling 372,800 shares, anincreaseof319.8% from the July 31st total of 88,800 shares. Based on an average daily trading volume, of 292,200 shares, the short-interest ratio is currently 1.3 days. Approximately9.2% of the company’s stock are sold short. Approximately9.2% of the company’s stock are sold short. Based on an average daily trading volume, of 292,200 shares, the short-interest ratio is currently 1.3 days.

BioCardia Price Performance

BCDA opened at $1.98 on Wednesday. The stock has a 50-day moving average price of $2.07 and a 200-day moving average price of $2.23. The firm has a market cap of $11.48 million, a PE ratio of -1.07 and a beta of 0.85. BioCardia has a 1 year low of $1.63 and a 1 year high of $3.26.

BioCardia (NASDAQ:BCDA) last posted its quarterly earnings results on Monday, August 11th. The company reported ($0.40) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.50) by $0.10. As a group, sell-side analysts anticipate that BioCardia will post -3.52 EPS for the current year.

Insider Activity

In related news, Director Simon H. Stertzer purchased 72,289 shares of the stock in a transaction dated Monday, June 30th. The stock was purchased at an average price of $2.08 per share, with a total value of $150,361.12. Following the transaction, the director directly owned 192,654 shares in the company, valued at $400,720.32. This trade represents a 60.06% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Andrew Scott Blank purchased 72,289 shares of the stock in a transaction dated Monday, June 30th. The stock was bought at an average cost of $2.08 per share, with a total value of $150,361.12. Following the transaction, the director owned 346,023 shares in the company, valued at $719,727.84. The trade was a 26.41% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 176,393 shares of company stock worth $366,021. Corporate insiders own 20.00% of the company’s stock.

Hedge Funds Weigh In On BioCardia

Hedge funds have recently bought and sold shares of the business. Cetera Investment Advisers purchased a new position in BioCardia in the 2nd quarter worth about $40,000. Brown Advisory Inc. purchased a new position in BioCardia in the 1st quarter worth about $90,000. Finally, CM Management LLC raised its position in BioCardia by 200.0% in the 1st quarter. CM Management LLC now owns 75,000 shares of the company’s stock worth $190,000 after buying an additional 50,000 shares during the last quarter. Hedge funds and other institutional investors own 20.57% of the company’s stock.

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.