BioCardia (NASDAQ:BCDA) Releases Earnings Results, Beats Expectations By $0.05 EPS

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

BioCardia Price Performance

NASDAQ BCDA traded down $0.05 during trading hours on Wednesday, hitting $0.88. 200,396 shares of the company’s stock traded hands, compared to its average volume of 1,329,318. The company has a market capitalization of $10.01 million, a PE ratio of -0.97 and a beta of 0.48. BioCardia has a 52-week low of $0.75 and a 52-week high of $2.29. The firm’s 50-day moving average is $0.94 and its 200-day moving average is $1.08.

Insider Activity at BioCardia

In other news, Director Simon H. Stertzer purchased 70,200 shares of the stock in a transaction dated Monday, June 22nd. The shares were purchased at an average price of $0.92 per share, with a total value of $64,584.00. Following the transaction, the director owned 127,338 shares in the company, valued at $117,150.96. The trade was a 122.86% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last 90 days, insiders acquired 145,900 shares of company stock worth $137,212. 17.40% of the stock is owned by insiders.

Hedge Funds Weigh In On BioCardia

A number of institutional investors have recently bought and sold shares of the company. Cetera Investment Advisers purchased a new stake in shares of BioCardia during the 2nd quarter valued at approximately $40,000. Geode Capital Management LLC lifted its holdings in BioCardia by 70.4% in 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 last quarter. Finally, DRW Securities LLC purchased a new position in BioCardia in the fourth quarter worth approximately $72,000. 20.57% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have commented on BCDA. Zacks Research lowered BioCardia from a “hold” rating to a “strong sell” rating in a research note on Monday, July 13th. Wall Street Zen upgraded BioCardia to a “sell” rating in a research report on Saturday, July 18th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of BioCardia in a research note on Friday, July 17th. Finally, HC Wainwright reiterated a “buy” rating and set a $25.00 price target on shares of BioCardia in a research report on Tuesday, June 9th. One equities research analyst has rated the stock with a Buy rating and two have issued a Sell rating to the company. According to data from MarketBeat, BioCardia presently has an average rating of “Reduce” and a consensus target price 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.