BioCardia (NASDAQ:BCDA) Shares Down 3.9% – Time to Sell?
by Danessa Lincoln · The Markets DailyBioCardia, Inc. (NASDAQ:BCDA – Get Free Report)’s share price dropped 3.9% on Wednesday . The company traded as low as $1.22 and last traded at $1.23. Approximately 42,279 shares changed hands during mid-day trading, a decline of 44% from the average daily volume of 75,777 shares. The stock had previously closed at $1.28.
Analyst Upgrades and Downgrades
Separately, Weiss Ratings restated a “sell (e+)” rating on shares of BioCardia in a research note on Wednesday, January 21st. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $25.00.
Read Our Latest Stock Report on BioCardia
BioCardia Stock Performance
The business’s 50-day moving average is $1.26 and its two-hundred day moving average is $1.38.
Hedge Funds Weigh In On BioCardia
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Geode Capital Management LLC boosted its holdings in BioCardia by 70.4% in the 4th quarter. Geode Capital Management LLC now owns 66,003 shares of the company’s stock worth $83,000 after acquiring an additional 27,263 shares during the period. DRW Securities LLC acquired a new position in shares of BioCardia during the fourth quarter worth $72,000. Finally, Cetera Investment Advisers purchased a new position in shares of BioCardia in the second quarter valued at $40,000. 20.57% of the stock is owned by institutional investors and hedge funds.
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.