BioCardia (NASDAQ:BCDA) Shares Down 4.1% – Here’s Why

BioCardia, Inc. (NASDAQ:BCDA)’s stock price was down 4.1% during trading on Tuesday . The stock traded as low as $1.1625 and last traded at $1.18. Approximately 97,856 shares traded hands during mid-day trading, an increase of 10% from the average daily volume of 88,955 shares. The stock had previously closed at $1.23.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Zacks Research raised shares of BioCardia to a “hold” rating in a report on Tuesday, September 23rd. Wall Street Zen upgraded shares of BioCardia to a “sell” rating in a research report on Saturday, November 1st. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of BioCardia in a research note on Wednesday, October 8th. Finally, HC Wainwright reissued a “buy” rating and set a $25.00 price objective on shares of BioCardia in a research note on Monday, September 22nd. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, BioCardia has a consensus rating of “Moderate Buy” and a consensus target price of $25.00.

BioCardia Price Performance

The company has a 50 day moving average price of $1.34 and a two-hundred day moving average price of $1.70. The stock has a market cap of $12.52 million, a PE ratio of -0.80 and a beta of 0.67.

BioCardia (NASDAQ:BCDA) last issued its quarterly earnings data on Wednesday, November 12th. The company reported ($0.24) EPS for the quarter, topping the consensus estimate of ($0.25) by $0.01. As a group, equities analysts predict that BioCardia, Inc. will post -3.52 earnings per share for the current fiscal year.

Hedge Funds Weigh In On BioCardia

A hedge fund recently bought a new stake in BioCardia stock. Cetera Investment Advisers bought a new stake in shares of BioCardia, Inc. (NASDAQ:BCDA) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 20,275 shares of the company’s stock, valued at approximately $40,000. Cetera Investment Advisers owned about 0.37% of BioCardia as of its most recent filing with the Securities and Exchange Commission. Hedge funds and other institutional investors own 20.57% of the company’s stock.

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.