Interactive Brokers shares jump as it secures spot in S&P 500
BioCardia, Inc. (NASDAQ:BCDA), a micro-cap biotech company with a market value of $11.4 million, saw its President and CEO Peter Altman recently acquire 600 shares of the company’s common stock, according to a filing with the Securities and Exchange Commission. The transaction, which took place on February 7, 2025, involved purchases at a weighted average price of $2.48 per share, totaling approximately $1,488. According to InvestingPro, the stock has fallen over 10% in the past week, suggesting the CEO’s purchase comes amid recent price weakness.
The purchase was executed in multiple trades with prices ranging from $2.37 to $2.50 per share. Following this acquisition, Altman now holds 107,920 shares directly. While the stock currently trades near $2.51, analysts tracked by InvestingPro maintain significantly higher price targets ranging from $6 to $25, though investors should note the company holds more cash than debt on its balance sheet. Get access to 8 more key ProTips and comprehensive insider trading analysis with InvestingPro’s detailed research reports.
In other recent news, BioCardia has made significant strides in its CardiAMP cell therapy trials for heart failure. The company has reported a decrease in net loss and a bolstered financial position due to a public offering. BioCardia is also preparing for an increase in patient eligibility for the CardiAMP Heart Failure II trial.
Furthermore, BioCardia is in the advanced stages of registering its leading therapeutic asset, BCDA-01, for treating ischemic heart failure in Japan. The Pharmaceutical (TADAWUL:2070) and Medical (TASE:PMCN) Device Agency (PMDA) of Japan is considering the data from the CardiAMP Heart Failure Trial as potential evidence for registration.
In the realm of financials, BioCardia raised $7.2 million in a public offering and managed to reduce its total expenses by 41%, resulting in a net loss of $1.7 million.
These developments come as BioCardia continues to progress with its CardiAMP and CardiALLO cell therapies and the Morph DNA Steerable Introducer platform, which has received FDA approval. The company is also strategizing for the commercialization of its therapies in Japan, leveraging regulatory advantages.
In the midst of these advancements, BioCardia remains cautious about potential disruptions, such as natural disasters, that could impact the progress of their trials.
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