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

Biodesix, Inc. (NASDAQ:BDSX) was the recipient of a significant decrease in short interest in 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 daily volume of 143,400 shares, the short-interest ratio is presently 2.5 days.

Analysts Set New Price Targets

Several research firms have recently issued reports on BDSX. Craig Hallum assumed coverage on Biodesix in a research report on Friday, July 26th. They issued a “buy” rating and a $3.00 price target on the stock. Scotiabank started coverage on Biodesix in a research report on Monday. They issued a “sector outperform” rating and a $3.00 price target on the stock. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $3.06.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in BDSX. CVI Holdings LLC acquired a new stake in Biodesix in the 2nd quarter valued at $59,000. Oracle Investment Management Inc. grew its position in Biodesix by 44.8% during the 4th quarter. Oracle Investment Management Inc. now owns 60,939 shares of the company’s stock worth $112,000 after purchasing an additional 18,863 shares in the last quarter. Opaleye Management Inc. boosted its position in Biodesix by 7.7% during the first quarter. Opaleye Management Inc. now owns 534,657 shares of the company’s stock valued at $765,000 after purchasing an additional 38,157 shares during the last quarter. Essex Investment Management Co. LLC boosted 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 in the last quarter. Finally, Farallon Capital Management LLC acquired a new position in Biodesix during the 2nd quarter worth $2,874,000. 20.96% of the stock is currently owned by institutional investors and hedge funds.

Biodesix Stock Performance

Biodesix stock remained flat at $1.80 during mid-day trading on Wednesday. The company’s stock had a trading volume of 36,521 shares, compared to its average volume of 134,683. 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 50 day simple moving average of $1.74 and a 200 day simple moving average of $1.55. The company has a market capitalization of $205.86 million, a PE ratio of -3.26 and a beta of 1.23. Biodesix has a 12 month low of $1.15 and a 12 month high of $2.21.

Biodesix (NASDAQ:BDSX) last announced its quarterly earnings results 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 return on equity of 505.95% and a negative net margin of 73.08%. The firm had revenue of $17.93 million during the quarter, compared to analyst estimates of $16.05 million. During the same quarter in the previous year, the business earned ($0.17) EPS. On average, equities research analysts forecast that Biodesix will post -0.36 EPS for the current fiscal year.

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.