Biodesix, Inc. (NASDAQ:BDSX) Sees Significant Drop in Short Interest

Biodesix, Inc. (NASDAQ:BDSX) saw a large decrease in short interest during the month of August. As of August 31st, there was short interest totalling 357,500 shares, a decrease of 15.6% from the August 15th total of 423,500 shares. Based on an average trading volume of 143,400 shares, the short-interest ratio is presently 2.5 days.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of BDSX. AIGH Capital Management LLC lifted its holdings in shares of Biodesix by 74.0% during the 2nd quarter. AIGH Capital Management LLC now owns 5,779,812 shares of the company’s stock valued at $8,843,000 after buying an additional 2,458,727 shares during the last quarter. Perceptive Advisors LLC bought a new position in Biodesix during the second quarter valued at approximately $3,326,000. Farallon Capital Management LLC acquired a new stake in Biodesix in the second quarter valued at approximately $2,874,000. Opaleye Management Inc. grew its position in Biodesix by 9.0% in the fourth quarter. Opaleye Management Inc. now owns 496,500 shares of the company’s stock worth $914,000 after acquiring an additional 40,927 shares in the last quarter. Finally, CVI Holdings LLC acquired a new position in shares of Biodesix during the 2nd quarter worth $59,000. Hedge funds and other institutional investors own 20.96% of the company’s stock.

Biodesix Stock Up 0.6 %

NASDAQ:BDSX traded up $0.01 on Tuesday, hitting $1.80. 11,045 shares of the company’s stock traded hands, compared to its average volume of 134,387. The firm has a 50-day moving average price of $1.74 and a 200-day moving average price of $1.55. The company has a current ratio of 3.28, a quick ratio of 3.28 and a debt-to-equity ratio of 0.99. The company has a market cap of $206.43 million, a PE ratio of -3.29 and a beta of 1.23. Biodesix has a 1 year low of $1.15 and a 1 year high of $2.21.

Biodesix (NASDAQ:BDSX) last released its quarterly earnings data on Wednesday, August 7th. The company reported ($0.08) earnings per share for the quarter, beating the consensus estimate of ($0.09) by $0.01. Biodesix had a negative net margin of 73.08% and a negative return on equity of 505.95%. The firm had revenue of $17.93 million for the quarter, compared to analyst estimates of $16.05 million. During the same quarter in the prior year, the business earned ($0.17) EPS. Equities analysts anticipate that Biodesix will post -0.36 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on BDSX shares. Scotiabank started coverage on Biodesix in a research note on Monday. They issued a “sector outperform” rating and a $3.00 price target on the stock. Craig Hallum started coverage on shares of Biodesix in a report on Friday, July 26th. They set a “buy” rating and a $3.00 price target on the stock. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Biodesix presently has a consensus rating of “Buy” and a consensus target price of $3.06.

About Biodesix

Biodesix, Inc operates as a data-driven diagnostic solutions company in the United States. The company offers blood-based lung tests, including Nodify XL2 and Nodify CDT tests, together marketed as part of Nodify Lung Nodule Risk Assessment testing strategy, to assess the risk of lung cancer and help in identifying the appropriate treatment pathway and help physicians in reclassifying risk of malignancy in patients with suspicious lung nodules.