Biodesix, Inc. (NASDAQ:BDSX) Short Interest Up 44.7% in December

Biodesix, Inc. (NASDAQ:BDSX) was the target of a large growth in short interest in December. As of December 15th, there was short interest totalling 903,100 shares, a growth of 44.7% from the November 30th total of 624,200 shares. Based on an average daily volume of 395,100 shares, the days-to-cover ratio is presently 2.3 days.

Biodesix Stock Performance

NASDAQ:BDSX traded up $0.02 during trading hours on Friday, reaching $1.48. The company had a trading volume of 251,805 shares, compared to its average volume of 213,132. The firm has a market cap of $215.29 million, a PE ratio of -3.79 and a beta of 1.15. Biodesix has a 1-year low of $1.11 and a 1-year high of $2.21. The business’s 50 day moving average price is $1.41 and its 200-day moving average price is $1.60. The company has a debt-to-equity ratio of 1.30, a current ratio of 3.40 and a quick ratio of 3.40.

Biodesix (NASDAQ:BDSX) last announced its quarterly earnings results on Friday, November 1st. The company reported ($0.07) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.07). Biodesix had a negative net margin of 66.84% and a negative return on equity of 275.79%. The firm had revenue of $18.15 million for the quarter, compared to the consensus estimate of $18.45 million. During the same period in the prior year, the firm posted ($0.12) earnings per share. Research analysts forecast that Biodesix will post -0.35 EPS for the current year.

Insider Buying and Selling at Biodesix

In other news, Chairman John Patience acquired 75,000 shares of the business’s stock in a transaction dated Tuesday, November 5th. The shares were acquired at an average cost of $1.38 per share, with a total value of $103,500.00. Following the completion of the acquisition, the chairman now owns 2,153,298 shares of the company’s stock, valued at approximately $2,971,551.24. This trade represents a 3.61 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Jack W. Schuler bought 200,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The shares were purchased at an average cost of $1.17 per share, with a total value of $234,000.00. Following the acquisition, the director now directly owns 31,094,935 shares of the company’s stock, valued at approximately $36,381,073.95. This trade represents a 0.65 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders have purchased 315,000 shares of company stock worth $393,500. 69.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Biodesix

A number of institutional investors have recently modified their holdings of the business. Wilmington Savings Fund Society FSB purchased a new position in Biodesix during the third quarter worth approximately $10,849,000. AIGH Capital Management LLC grew its stake in Biodesix by 74.0% in the 2nd quarter. AIGH Capital Management LLC now owns 5,779,812 shares of the company’s stock valued at $8,843,000 after acquiring an additional 2,458,727 shares during the period. Perceptive Advisors LLC acquired a new stake in Biodesix in the 2nd quarter valued at $3,326,000. Farallon Capital Management LLC purchased a new stake in Biodesix in the 2nd quarter worth $2,874,000. Finally, Perkins Capital Management Inc. raised its position in Biodesix by 74.7% during the third quarter. Perkins Capital Management Inc. now owns 724,782 shares of the company’s stock worth $1,290,000 after acquiring an additional 310,000 shares during the period. 20.96% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Scotiabank assumed coverage on shares of Biodesix in a research note on Monday, September 16th. They issued a “sector outperform” rating and a $3.00 price objective on the stock. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $3.06.

Biodesix Company Profile

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.