BioCardia (BCDA) stock slides after a $4.4M share dilution, but analysts spot massive upside. Check out the vital levels to watch.
BioCardia, Inc.
(NASDAQ:BCDA) shares are losing ground on Tuesday.
The downside comes just a day after the clinical-stage biopharmaceutical firm announced a capital raise, triggering common stock dilution concerns among retail traders.
Nasdaq futures are up 0.84% while S&P 500 futures have gained 0.48%.
Share Dilution Pulls BioCardia Stock Lower The primary catalyst behind the Tuesday drop is a $4.4 million financing arrangement announced by the company on Monday.
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RBC's $22 price target implies an upside of 74% for shares of Biohaven.
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