BioCardia (NASDAQ:BCDA) Trading Up 3.1% – Here’s Why

BioCardia, Inc. (NASDAQ:BCDA) shares were up 3.1% during mid-day trading on Tuesday . The company traded as high as $1.1750 and last traded at $1.1650. Approximately 33,354 shares changed hands during mid-day trading, a decline of 46% from the average daily volume of 61,258 shares. The stock had previously closed at $1.13.

Analysts Set New Price Targets

BCDA has been the topic of a number of research reports. Wall Street Zen upgraded shares of BioCardia to a “sell” rating in a report on Saturday, November 1st. Weiss Ratings reissued a “sell (e+)” rating on shares of BioCardia in a research note on Wednesday, January 21st. One research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, BioCardia presently has a consensus rating of “Hold” and an average price target of $25.00.

BioCardia Stock Performance

The company has a market capitalization of $12.36 million, a PE ratio of -0.79 and a beta of 0.61. The company’s 50-day moving average is $1.26 and its 200 day moving average is $1.44.

Institutional Trading of BioCardia

Several institutional investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC raised its stake in shares of BioCardia by 70.4% in the fourth quarter. Geode Capital Management LLC now owns 66,003 shares of the company’s stock worth $83,000 after purchasing an additional 27,263 shares during the last quarter. DRW Securities LLC purchased a new position in BioCardia in the 4th quarter worth about $72,000. Finally, Cetera Investment Advisers bought a new position in BioCardia during the 2nd quarter valued at about $40,000. 20.57% of the stock is currently owned by hedge funds and other 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.