BioCardia (NASDAQ:BCDA) Shares Down 5.5% – What’s Next?

BioCardia, Inc. (NASDAQ:BCDA)’s share price dropped 5.5% during mid-day trading on Thursday. The company traded as low as $0.92 and last traded at $0.9287. Approximately 50,039 shares changed hands during trading, a decline of 66% from the average daily volume of 146,650 shares. The stock had previously closed at $0.9824.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Weiss Ratings reiterated a “sell (e+)” rating on shares of BioCardia in a research report on Thursday, October 15th. Zacks Research raised shares of BioCardia from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 11th. HC Wainwright reiterated a “buy” rating on shares of BioCardia in a report on Monday, August 24th. Finally, Wall Street Zen raised shares of BioCardia from a “sell” rating to a “hold” rating in a report on Saturday, August 15th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $25.00.

BioCardia Stock Down 5.5%

The firm has a market cap of $14.06 million, a PE ratio of -1.45 and a beta of 0.62. The firm’s 50 day moving average is $1.06 and its 200-day moving average is $1.02.

BioCardia (NASDAQ:BCDA) last posted its quarterly earnings data on Wednesday, August 12th. The company reported ($0.13) EPS for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.05. On average, analysts forecast that BioCardia, Inc. will post -0.71 earnings per share for the current year.

BioCardia Company Profile

BioCardia, Inc is a biotechnology company focused on developing regenerative cell therapies and related delivery systems for cardiovascular diseases. The company’s programs are designed to repair or improve heart tissue and function in patients with conditions such as chronic heart failure and refractory angina caused by coronary artery disease.

BioCardia’s lead programs include CardiAMP Cell Therapy, an investigational autologous treatment that uses a patient’s own bone marrow-derived cells, and CardiALLO, an investigational allogeneic cell therapy based on donor-derived cells.