BioCardia, Inc. (NASDAQ:BCDA) Short Interest Down 43.8% in August

BioCardia, Inc. (NASDAQ:BCDA) was the recipient of a significant decrease in short interest during the month of August. As of August 31st, there was short interest totaling 209,400 shares, a decrease of 43.8% from the August 15th total of 372,800 shares. Based on an average daily trading volume, of 291,800 shares, the days-to-cover ratio is currently 0.7 days. Currently, 5.9% of the company’s stock are short sold. Currently, 5.9% of the company’s stock are short sold. Based on an average daily trading volume, of 291,800 shares, the days-to-cover ratio is currently 0.7 days.

Insider Activity

In related news, Director Andrew Scott Blank bought 72,289 shares of the firm’s stock in a transaction on Monday, June 30th. The stock was acquired at an average cost of $2.08 per share, for a total transaction of $150,361.12. Following the purchase, the director owned 346,023 shares in the company, valued at approximately $719,727.84. This represents a 26.41% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Peter Altman purchased 24,096 shares of the stock in a transaction dated Monday, June 30th. The shares were purchased at an average cost of $2.08 per share, for a total transaction of $50,119.68. Following the completion of the acquisition, the chief executive officer directly owned 165,862 shares in the company, valued at approximately $344,992.96. This trade represents a 17.00% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought a total of 176,393 shares of company stock worth $366,021 over the last 90 days. 20.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On BioCardia

A number of institutional investors have recently bought and sold shares of the stock. Brown Advisory Inc. purchased a new position in BioCardia during the first quarter valued at $90,000. CM Management LLC lifted its position in BioCardia by 200.0% during the first quarter. CM Management LLC now owns 75,000 shares of the company’s stock valued at $190,000 after purchasing an additional 50,000 shares in the last quarter. Finally, Cetera Investment Advisers purchased a new position in BioCardia during the second quarter valued at $40,000. 20.57% of the stock is owned by institutional investors.

BioCardia Trading Down 5.7%

BCDA opened at $2.14 on Friday. The company’s 50 day moving average is $2.07 and its 200 day moving average is $2.21. The company has a market cap of $12.41 million, a price-to-earnings ratio of -1.16 and a beta of 0.85. BioCardia has a 12-month low of $1.63 and a 12-month high of $3.26.

BioCardia (NASDAQ:BCDA) last announced its earnings results on Monday, August 11th. The company reported ($0.40) EPS for the quarter, beating analysts’ consensus estimates of ($0.50) by $0.10. As a group, analysts predict that BioCardia will post -3.52 EPS for the current fiscal year.

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.