BioCardia (NASDAQ:BCDA) Shares Up 5.9% – Still a Buy?

Shares of BioCardia, Inc. (NASDAQ:BCDA) shot up 5.9% during mid-day trading on Monday . The stock traded as high as $1.28 and last traded at $1.25. 192,473 shares were traded during mid-day trading, an increase of 276% from the average session volume of 51,251 shares. The stock had previously closed at $1.18.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of BioCardia in a report on Wednesday, January 21st. One research 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. According to MarketBeat.com, BioCardia presently has a consensus rating of “Hold” and an average target price of $25.00.

BioCardia Price Performance

The firm’s fifty day moving average price is $1.21 and its two-hundred day moving average price is $1.29. The stock has a market cap of $13.68 million, a price-to-earnings ratio of -0.97 and a beta of 0.55.

BioCardia (NASDAQ:BCDA) last announced its quarterly earnings data on Tuesday, March 24th. The company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.20) by $0.14. On average, equities research analysts anticipate that BioCardia, Inc. will post -0.71 earnings per share for the current year.

Hedge Funds Weigh In On BioCardia

Several institutional investors have recently made changes to their positions in the stock. Cetera Investment Advisers acquired a new position in shares of BioCardia during the second quarter valued at about $40,000. Geode Capital Management LLC raised its holdings in shares of BioCardia by 70.4% in the 4th quarter. Geode Capital Management LLC now owns 66,003 shares of the company’s stock worth $83,000 after acquiring an additional 27,263 shares during the last quarter. Finally, DRW Securities LLC acquired a new stake in shares of BioCardia in the 4th quarter worth about $72,000. Institutional investors and hedge funds own 20.57% of the company’s stock.

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.