Biodesix, Inc. (NASDAQ:BDSX) Short Interest Update

Biodesix, Inc. (NASDAQ:BDSX) was the recipient of a significant decline in short interest during the month of September. As of September 15th, there was short interest totalling 324,700 shares, a decline of 9.2% from the August 31st total of 357,500 shares. Based on an average daily volume of 150,800 shares, the short-interest ratio is currently 2.2 days.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of BDSX. Oracle Investment Management Inc. boosted its stake in shares of Biodesix by 44.8% in the 4th quarter. Oracle Investment Management Inc. now owns 60,939 shares of the company’s stock valued at $112,000 after purchasing an additional 18,863 shares in the last quarter. Opaleye Management Inc. increased its position in Biodesix by 9.0% during the 4th quarter. Opaleye Management Inc. now owns 496,500 shares of the company’s stock worth $914,000 after purchasing an additional 40,927 shares in the last quarter. Essex Investment Management Co. LLC lifted its stake in Biodesix by 1.4% in the 1st quarter. Essex Investment Management Co. LLC now owns 925,614 shares of the company’s stock valued at $1,324,000 after purchasing an additional 12,669 shares during the last quarter. AIGH Capital Management LLC boosted its position in Biodesix by 74.0% in the second 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 in the last quarter. Finally, Farallon Capital Management LLC bought a new stake in shares of Biodesix during the second quarter worth $2,874,000. Institutional investors own 20.96% of the company’s stock.

Biodesix Price Performance

Biodesix stock opened at $1.78 on Tuesday. The firm has a market cap of $204.14 million, a PE ratio of -3.24 and a beta of 1.23. The company has a debt-to-equity ratio of 0.99, a current ratio of 3.28 and a quick ratio of 3.28. The stock’s fifty day moving average price is $1.74 and its two-hundred day moving average price is $1.56. Biodesix has a one year low of $1.15 and a one year high of $2.21.

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

Analysts Set New Price Targets

BDSX has been the subject of several research analyst reports. Craig Hallum initiated coverage on shares of Biodesix in a report on Friday, July 26th. They set a “buy” rating and a $3.00 target price for the company. Scotiabank assumed coverage on shares of Biodesix in a research report on Monday, September 16th. They set a “sector outperform” rating and a $3.00 price objective for the company. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company has an average rating of “Buy” and a consensus price target 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.