Interactive Brokers shares jump as it secures spot in S&P 500
In a recent transaction, Peter Altman, President and CEO of BioCardia, Inc. (NASDAQ:BCDA), purchased 1,200 shares of the company’s common stock. The insider buying comes as the stock has experienced a significant decline, dropping 25% in the past week and 63.64% over the last year. The shares were acquired at a weighted average price of $2.24 per share, totaling an investment of $2,688. This transaction was executed in multiple trades, with prices ranging from $2.19 to $2.55 per share. Following this acquisition, Altman now directly owns 109,620 shares of BioCardia. The company, currently valued at $10.09 million, maintains a strong balance sheet with more cash than debt, though InvestingPro analysis indicates the company is burning through cash rapidly. Track insider transactions and access 12 more exclusive ProTips with an InvestingPro subscription.
In other recent news, BioCardia Inc. reported a notable 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%, while selling, general, and administrative expenses fell by 16%. Despite these financial improvements, the company experienced a net loss of $7.9 million, down from $11.6 million the previous year. BioCardia also shared promising updates on its Cardiamp heart failure trial, which demonstrated a 47% relative risk reduction in heart death equivalents and a 16% reduction in major adverse cardiac events. Looking ahead, BioCardia expects a modest increase in research and development expenses in 2025, while maintaining stable levels for other expenses. The company is preparing for regulatory submissions in the U.S. and Japan, which could significantly impact its future product offerings. BioCardia’s strategic focus remains on advancing its innovative therapies and expanding its product pipeline.
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