Biodesix, Inc. (NASDAQ:BDSX) Short Interest Up 24.6% in February

Biodesix, Inc. (NASDAQ:BDSX) was the target of a significant growth in short interest during the month of February. As of February 28th, there was short interest totalling 973,200 shares, a growth of 24.6% from the February 13th total of 781,300 shares. Approximately 2.2% of the company’s shares are short sold. Based on an average trading volume of 428,500 shares, the days-to-cover ratio is presently 2.3 days.

Biodesix Trading Down 2.9 %

BDSX opened at $0.72 on Monday. 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 has a fifty-two week low of $0.64 and a fifty-two week high of $2.04. The firm has a market capitalization of $105.41 million, a PE ratio of -1.85 and a beta of 1.10. The company’s 50-day moving average is $1.00 and its 200 day moving average is $1.36.

Biodesix (NASDAQ:BDSX) last posted its quarterly earnings data on Monday, March 3rd. The company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.07) by $0.01. The firm had revenue of $20.43 million during the quarter, compared to analyst estimates of $19.92 million. Biodesix had a negative net margin of 66.84% and a negative return on equity of 275.79%. As a group, research analysts predict that Biodesix will post -0.35 earnings per share for the current fiscal year.

Insider Buying and Selling at Biodesix

In other news, CEO Scott Hutton sold 83,660 shares of the stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $0.92, for a total transaction of $76,967.20. Following the transaction, the chief executive officer now owns 701,947 shares of the company’s stock, valued at $645,791.24. This represents a 10.65 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last quarter, insiders have sold 128,702 shares of company stock valued at $118,406. 69.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Biodesix

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Balyasny Asset Management L.P. purchased a new stake in Biodesix in the 4th quarter valued at about $29,000. Barclays PLC raised its holdings in shares of Biodesix by 1,140.5% in 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 period. Boothbay Fund Management LLC bought a new stake in shares of Biodesix in the 4th quarter worth approximately $52,000. MYDA Advisors LLC bought a new stake in shares of Biodesix in the 4th quarter worth approximately $76,000. Finally, Cubist Systematic Strategies LLC raised its holdings in shares of Biodesix by 385.9% in the 4th quarter. Cubist Systematic Strategies LLC now owns 51,024 shares of the company’s stock worth $78,000 after purchasing an additional 40,524 shares during the period. Hedge funds and other institutional investors own 20.96% of the company’s stock.

Analysts Set New Price Targets

Separately, William Blair reissued an “outperform” rating on shares of Biodesix in a research report on Tuesday, March 4th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $2.95.

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.