BioCardia, Inc. (NASDAQ:BCDA) Sees Significant Decrease in Short Interest

BioCardia, Inc. (NASDAQ:BCDA) was the target of a large decrease in short interest during the month of April. As of April 15th, there was short interest totalling 271,200 shares, a decrease of 49.4% from the March 31st total of 535,900 shares. Based on an average trading volume of 345,100 shares, the days-to-cover ratio is presently 0.8 days.

BioCardia Trading Up 2.3 %

Shares of BioCardia stock traded up $0.01 on Friday, hitting $0.38. 29,340 shares of the company traded hands, compared to its average volume of 84,503. BioCardia has a 12-month low of $0.32 and a 12-month high of $2.92. The company has a market cap of $10.12 million, a P/E ratio of -0.68 and a beta of 1.47. The firm’s 50-day simple moving average is $0.41 and its 200 day simple moving average is $0.50.

BioCardia (NASDAQ:BCDA) last released its quarterly earnings results on Wednesday, March 27th. The company reported ($0.09) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.02. BioCardia had a negative return on equity of 3,638.68% and a negative net margin of 2,425.79%. The business had revenue of $0.01 million for the quarter, compared to the consensus estimate of $0.20 million. Analysts predict that BioCardia will post -0.42 earnings per share for the current year.

Insiders Place Their Bets

In other BioCardia news, CEO Peter Altman purchased 108,108 shares of the company’s stock in a transaction dated Tuesday, February 13th. The stock was purchased at an average price of $0.46 per share, for a total transaction of $49,729.68. Following the transaction, the chief executive officer now owns 555,447 shares in the company, valued at approximately $255,505.62. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders have acquired 111,358 shares of company stock worth $50,942 in the last ninety days. 23.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On BioCardia

A hedge fund recently raised its stake in BioCardia stock. CM Management LLC boosted its position in BioCardia, Inc. (NASDAQ:BCDA) by 74.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 600,000 shares of the company’s stock after buying an additional 257,000 shares during the quarter. CM Management LLC owned approximately 2.78% of BioCardia worth $258,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 20.57% of the stock is currently owned by institutional investors and hedge funds.

BioCardia Company Profile

BioCardia, Inc, a clinical-stage regenerative medicine company, engages in development of cellular and cell-derived therapeutics for cardiovascular and pulmonary diseases. Its lead therapeutic candidate is the CardiAMP, an autologous mononuclear cell therapy system for the treatment of heart failure and chronic myocardial ischemia; and allogeneic cell therapy for cardiac and pulmonary disease.