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

BioCardia, Inc. (NASDAQ:BCDA) saw a significant decrease in short interest in 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 daily trading volume, of 345,100 shares, the short-interest ratio is currently 0.8 days.

BioCardia Stock Up 2.3 %

BCDA traded up $0.01 during trading on Friday, reaching $0.38. 29,340 shares of the stock traded hands, compared to its average volume of 84,503. The stock’s 50-day moving average is $0.41 and its 200 day moving average is $0.50. BioCardia has a 12 month low of $0.32 and a 12 month high of $2.92. The stock has a market capitalization of $10.12 million, a PE ratio of -0.68 and a beta of 1.47.

BioCardia (NASDAQ:BCDA) last announced its earnings results on Wednesday, March 27th. The company reported ($0.09) EPS for the quarter, beating the consensus estimate 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 company had revenue of $0.01 million for the quarter, compared to analyst estimates of $0.20 million. As a group, equities research analysts anticipate that BioCardia will post -0.42 EPS for the current year.

Insider Activity

In related news, CEO Peter Altman bought 108,108 shares of BioCardia stock in a transaction that occurred on Tuesday, February 13th. The shares were acquired at an average cost of $0.46 per share, for a total transaction of $49,729.68. Following the completion of the acquisition, the chief executive officer now directly owns 555,447 shares of the company’s stock, valued at approximately $255,505.62. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last quarter, insiders purchased 111,358 shares of company stock valued at $50,942. Company insiders own 23.90% of the company’s stock.

Hedge Funds Weigh In On BioCardia

A hedge fund recently raised its stake in BioCardia stock. CM Management LLC increased its stake in shares of BioCardia, Inc. (NASDAQ:BCDA) by 74.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 600,000 shares of the company’s stock after acquiring an additional 257,000 shares during the quarter. CM Management LLC owned approximately 2.78% of BioCardia worth $258,000 at the end of the most recent quarter. 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.