Interactive Brokers shares jump as it secures spot in S&P 500
BioCardia, Inc. (NASDAQ:BCDA) President and CEO Peter Altman recently purchased 800 shares of the company's common stock, according to a recent SEC filing. The purchase comes as the stock has declined 21% in the past week and 65% over the last year, according to InvestingPro data. The transaction, completed on April 4, 2025, was valued at approximately $1,632, with shares acquired at a weighted average price of $2.04. This purchase adds to Altman's direct ownership, bringing his total holdings to 111,520 shares in the company. The shares were acquired through multiple trades, with prices ranging from $2.01 to $2.09 per share. With a current market capitalization of $9.17 million and analyst price targets ranging from $6 to $25, InvestingPro subscribers have access to 13 additional key insights about BioCardia's financial health and growth prospects.
In other recent news, BioCardia Inc. reported a significant reduction in expenses for the fourth quarter of 2024, with total expenses decreasing by 35% year-over-year. The company's research and development expenses dropped by 43%, and selling, general, and administrative expenses decreased by 16%. Despite these cost reductions, BioCardia reported a net loss of $7.9 million, down from $11.6 million in 2023. The company also announced promising results from its Cardiamp heart failure trial, highlighting a 47% relative risk reduction in heart death equivalents and a 16% relative risk reduction in major adverse cardiac events. BioCardia completed enrollment for the Mercardiallo therapy low-dose cohort and is preparing for regulatory submissions and new trial activations. The company expects a modest increase in R&D expenses in 2025 while maintaining SG&A expenses close to 2024 levels. BioCardia is focusing on business development across four platforms, indicating a strategic push towards expanding its product offerings. The company anticipates moderate cash burn as it continues regulatory discussions in the U.S. and Japan.
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