BioCardia Inc. [NASDAQ: BCDA] stock went on a downward path that fall over -9.49% on Tuesday, amounting to a one-week price decrease of less than -6.97%. The company report on March 12, 2024 at 7:00 AM that BioCardia Announces CMS Approval of Coverage for CardiAMP Cell Therapy Confirmatory Phase III Heart Failure Study.
CMS has reviewed the CardiAMP Heart Failure II Trial and approved the investigational product, related and routine items and services for purposes of Medicare coverage. CMS previously published a New Technology APC (Ambulatory Payment Classifications) code that covers the CardiAMP Cell Therapy investigational study procedure, including the BioCardia investigational products utilized to perform the study procedure, allowing the study centers to be reimbursed for the study procedure and products.
Over the last 12 months, BCDA stock dropped by -81.39%. The one-year BioCardia Inc. stock forecast points to a potential upside of 90.5. The average equity rating for BCDA stock is currently 2.00, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $9.88 million, with 20.08 million shares outstanding and 16.38 million shares in the current float. Compared to the average trading volume of 314.09K shares, BCDA stock reached a trading volume of 4574223 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on BioCardia Inc. [BCDA]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for BCDA shares is $4.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on BCDA stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Dawson James have made an estimate for BioCardia Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on April 16, 2021.
The Average True Range (ATR) for BioCardia Inc. is set at 0.05, with the Price to Sales ratio for BCDA stock in the period of the last 12 months amounting to 17.34.
BCDA Stock Performance Analysis:
BioCardia Inc. [BCDA] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -6.97. With this latest performance, BCDA shares dropped by -6.95% in over the last four-week period, additionally sinking by -12.50% over the last 6 months – not to mention a drop of -81.39% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for BCDA stock in for the last two-week period is set at 38.69, with the RSI for the last a single of trading hit 34.99, and the three-weeks RSI is set at 40.65 for BioCardia Inc. [BCDA]. The present Moving Average for the last 50 days of trading for this stock 0.4999, while it was recorded at 0.4191 for the last single week of trading, and 0.9231 for the last 200 days.
Insight into BioCardia Inc. Fundamentals:
BioCardia Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.64 and a Current Ratio set at 0.64.
BCDA Stock EPS
With the latest financial reports released by the company, BioCardia Inc. posted -0.16/share EPS, while the average EPS was predicted by analysts to be reported at -0.18/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 11.10%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for BCDA.
BioCardia Inc. [BCDA] Institutonal Ownership Details
The top three institutional holders of BCDA stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in BCDA stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in BCDA stock with ownership which is approximately 5.8325%.
