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

Biodesix, Inc. (NASDAQ:BDSX) was the target of a significant increase in short interest during the month of September. As of September 30th, there was short interest totalling 419,700 shares, an increase of 29.3% from the September 15th total of 324,700 shares. Based on an average daily volume of 128,000 shares, the days-to-cover ratio is currently 3.3 days.

Institutional Trading of Biodesix

A number of institutional investors have recently modified their holdings of the company. Perceptive Advisors LLC purchased a new position in shares of Biodesix during the second quarter valued at approximately $3,326,000. Farallon Capital Management LLC purchased a new position in Biodesix during the 2nd quarter valued at about $2,874,000. CVI Holdings LLC bought a new stake in Biodesix during the second quarter worth about $59,000. Essex Investment Management Co. LLC grew its holdings in Biodesix by 1.4% in the first quarter. Essex Investment Management Co. LLC now owns 925,614 shares of the company’s stock worth $1,324,000 after purchasing an additional 12,669 shares during the period. Finally, AIGH Capital Management LLC increased its stake in shares of Biodesix by 74.0% during the second quarter. AIGH Capital Management LLC now owns 5,779,812 shares of the company’s stock valued at $8,843,000 after purchasing an additional 2,458,727 shares in the last quarter. 20.96% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Scotiabank assumed coverage on shares of Biodesix in a report on Monday, September 16th. They issued a “sector outperform” rating and a $3.00 price target on the stock. Craig Hallum initiated coverage on Biodesix in a research note on Friday, July 26th. They set a “buy” rating and a $3.00 price target for the company. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $3.06.

Biodesix Trading Up 0.6 %

Biodesix stock traded up $0.01 during trading hours on Tuesday, reaching $1.61. The company had a trading volume of 8,512 shares, compared to its average volume of 146,627. The firm has a market cap of $184.64 million, a price-to-earnings ratio of -2.91 and a beta of 1.22. Biodesix has a 12-month low of $1.15 and a 12-month high of $2.21. 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 company has a 50-day moving average price of $1.75 and a 200 day moving average price of $1.58.

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. The company had revenue of $17.93 million during the quarter, compared to analyst estimates of $16.05 million. Biodesix had a negative net margin of 73.08% and a negative return on equity of 505.95%. During the same period in the prior year, the business posted ($0.17) EPS. Equities analysts forecast that Biodesix will post -0.36 earnings per share for the current year.

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.