Short Interest in BioCardia, Inc. (NASDAQ:BCDA) Rises By 927.5%

BioCardia, Inc. (NASDAQ:BCDA) was the target of a significant increase in short interest in March. As of March 15th, there was short interest totalling 1,010,000 shares, an increase of 927.5% from the February 29th total of 98,300 shares. Based on an average daily trading volume, of 378,600 shares, the days-to-cover ratio is presently 2.7 days. Currently, 6.2% of the shares of the company are sold short.

BioCardia Trading Down 2.9 %

Shares of NASDAQ:BCDA opened at $0.41 on Friday. The business’s fifty day moving average price is $0.44 and its two-hundred day moving average price is $0.50. BioCardia has a fifty-two week low of $0.36 and a fifty-two week high of $2.92.

Insider Buying and Selling

In other news, CEO Peter Altman acquired 108,108 shares of the stock in a transaction dated 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 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other BioCardia news, major shareholder Phillip Md Et Al Frost sold 129,802 shares of BioCardia stock in a transaction that occurred on Friday, January 19th. The stock was sold at an average price of $0.43, for a total transaction of $55,814.86. Following the sale, the insider now directly owns 1,896,025 shares of the company’s stock, valued at $815,290.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Peter Altman acquired 108,108 shares of the stock in a transaction dated Tuesday, February 13th. The stock was bought at an average price of $0.46 per share, for a total transaction of $49,729.68. Following the completion of the purchase, the chief executive officer now owns 555,447 shares in the company, valued at approximately $255,505.62. The disclosure for this purchase can be found here. 23.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Virtu Financial LLC acquired a new position in shares of BioCardia in the 4th quarter valued at $27,000. Renaissance Technologies LLC bought a new stake in BioCardia in the first quarter valued at about $28,000. Millennium Management LLC acquired a new position in BioCardia in the second quarter valued at about $42,000. Dimensional Fund Advisors LP bought a new position in BioCardia during the first quarter worth about $57,000. Finally, BlackRock Inc. acquired a new position in shares of BioCardia during the 2nd quarter worth about $88,000. 20.57% of the stock is currently owned by institutional investors.

About BioCardia

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.