Biodesix, Inc. (NASDAQ:BDSX) Short Interest Up 29.5% in March

Biodesix, Inc. (NASDAQ:BDSX) saw a large increase in short interest in the month of March. As of March 15th, there was short interest totalling 1,260,000 shares, an increase of 29.5% from the February 28th total of 973,200 shares. Based on an average daily trading volume, of 417,700 shares, the short-interest ratio is currently 3.0 days. Approximately 2.8% of the shares of the company are short sold.

Wall Street Analyst Weigh In

Separately, William Blair restated an “outperform” rating on shares of Biodesix in a research report on Tuesday, March 4th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Biodesix presently has an average rating of “Buy” and an average target price of $2.95.

Insider Buying and Selling

In other news, CEO Scott Hutton sold 83,660 shares of the firm’s stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $0.92, for a total value of $76,967.20. Following the completion of the sale, the chief executive officer now directly owns 701,947 shares of the company’s stock, valued at approximately $645,791.24. This trade represents a 10.65 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In the last ninety days, insiders sold 128,702 shares of company stock valued at $118,406. Company insiders own 69.20% of the company’s stock.

Institutional Trading of Biodesix

A number of institutional investors have recently made changes to their positions in BDSX. Barclays PLC boosted its holdings in shares of Biodesix by 1,140.5% during the 3rd quarter. Barclays PLC now owns 23,036 shares of the company’s stock worth $41,000 after purchasing an additional 21,179 shares during the last quarter. Geode Capital Management LLC raised its position in Biodesix by 50.7% in the third quarter. Geode Capital Management LLC now owns 804,576 shares of the company’s stock valued at $1,433,000 after purchasing an additional 270,724 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in Biodesix in the 3rd quarter valued at about $10,849,000. Stephens Inc. AR acquired a new position in Biodesix in the fourth quarter valued at approximately $303,000. Finally, HighTower Advisors LLC increased its position in Biodesix by 17.1% during the fourth quarter. HighTower Advisors LLC now owns 153,934 shares of the company’s stock worth $236,000 after buying an additional 22,500 shares during the period. 20.96% of the stock is owned by institutional investors and hedge funds.

Biodesix Stock Performance

NASDAQ BDSX opened at $0.67 on Monday. The stock has a market capitalization of $97.08 million, a price-to-earnings ratio of -1.72 and a beta of 1.10. Biodesix has a twelve month low of $0.64 and a twelve month high of $2.04. The stock has a 50-day moving average of $0.89 and a 200 day moving average of $1.28. The company has a current ratio of 3.40, a quick ratio of 3.40 and a debt-to-equity ratio of 1.30.

Biodesix (NASDAQ:BDSX) last announced its earnings results on Monday, March 3rd. The company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.01. Biodesix had a negative net margin of 66.84% and a negative return on equity of 275.79%. The business had revenue of $20.43 million for the quarter, compared to analyst estimates of $19.92 million. Sell-side analysts anticipate that Biodesix will post -0.35 EPS for the current fiscal 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.