BioCardia (NASDAQ:BCDA) Posts Quarterly Earnings Results, Beats Estimates By $0.05 EPS

BioCardia (NASDAQ:BCDA) posted its earnings results on Wednesday. The company reported ($0.13) earnings per share for the quarter, beating the consensus estimate of ($0.18) by $0.05, FiscalAI reports.

BioCardia Trading Down 5.6%

BCDA traded down $0.05 during trading hours on Wednesday, hitting $0.88. The company’s stock had a trading volume of 192,787 shares, compared to its average volume of 1,329,256. The company has a 50-day simple moving average of $0.94 and a 200 day simple moving average of $1.08. The firm has a market capitalization of $10.01 million, a PE ratio of -0.97 and a beta of 0.48. BioCardia has a fifty-two week low of $0.75 and a fifty-two week high of $2.29.

Insider Activity

In other BioCardia news, Director Simon H. Stertzer purchased 70,200 shares of the stock in a transaction dated Monday, June 22nd. The shares were bought at an average cost of $0.92 per share, with a total value of $64,584.00. Following the completion of the acquisition, the director owned 127,338 shares of the company’s stock, valued at approximately $117,150.96. This trade represents a 122.86% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders acquired a total of 145,900 shares of company stock valued at $137,212 over the last ninety days. Corporate insiders own 17.40% of the company’s stock.

Hedge Funds Weigh In On BioCardia

A number of institutional investors and hedge funds have recently bought and sold shares of BCDA. DRW Securities LLC acquired a new stake in shares of BioCardia in the 4th quarter worth approximately $72,000. Geode Capital Management LLC increased its stake in shares of BioCardia by 70.4% during the fourth quarter. Geode Capital Management LLC now owns 66,003 shares of the company’s stock valued at $83,000 after acquiring an additional 27,263 shares during the period. Finally, Cetera Investment Advisers bought a new stake in BioCardia during the second quarter worth approximately $40,000. Institutional investors own 20.57% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on BCDA shares. Zacks Research lowered BioCardia from a “hold” rating to a “strong sell” rating in a research note on Monday, July 13th. HC Wainwright reaffirmed a “buy” rating and set a $25.00 price target on shares of BioCardia in a research report on Tuesday, June 9th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of BioCardia in a report on Friday, July 17th. Finally, Wall Street Zen raised BioCardia to a “sell” rating in a research report on Saturday, July 18th. One investment analyst has rated the stock with a Buy rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Reduce” and an average price target of $25.00.

About BioCardia

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.