Short Interest in Biodesix, Inc. (NASDAQ:BDSX) Declines By 15.6%

Biodesix, Inc. (NASDAQ:BDSX) was the recipient of a large decline in short interest in the month of August. As of August 31st, there was short interest totalling 357,500 shares, a decline of 15.6% from the August 15th total of 423,500 shares. Based on an average trading volume of 143,400 shares, the short-interest ratio is presently 2.5 days.

Biodesix Stock Up 1.7 %

BDSX stock traded up $0.03 during trading on Monday, hitting $1.80. 59,312 shares of the company’s stock traded hands, compared to its average volume of 135,019. Biodesix has a 1 year low of $1.15 and a 1 year high of $2.21. The company has a quick ratio of 3.28, a current ratio of 3.28 and a debt-to-equity ratio of 0.99. The firm has a market capitalization of $206.43 million, a P/E ratio of -3.22 and a beta of 1.23. The business has a fifty day simple moving average of $1.73 and a two-hundred day simple moving average of $1.55.

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 net margin of 73.08% and a negative return on equity of 505.95%. The firm had revenue of $17.93 million for the quarter, compared to analysts’ expectations of $16.05 million. During the same quarter in the previous year, the company posted ($0.17) EPS. Sell-side analysts anticipate that Biodesix will post -0.36 EPS for the current year.

Wall Street Analysts Forecast Growth

BDSX has been the topic of a number of recent research reports. Scotiabank started coverage on Biodesix in a research note on Monday. They set a “sector outperform” rating and a $3.00 price objective on the stock. Craig Hallum assumed coverage on Biodesix in a report 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, Based on data from MarketBeat.com, Biodesix presently has a consensus rating of “Buy” and a consensus target price of $3.06.

Hedge Funds Weigh In On Biodesix

A number of large investors have recently modified their holdings of BDSX. CVI Holdings LLC purchased a new stake in Biodesix during the second quarter valued at about $59,000. Oracle Investment Management Inc. lifted its position in shares of Biodesix by 44.8% in the 4th quarter. Oracle Investment Management Inc. now owns 60,939 shares of the company’s stock valued at $112,000 after acquiring an additional 18,863 shares in the last quarter. Opaleye Management Inc. grew its stake in Biodesix by 7.7% during the 1st quarter. Opaleye Management Inc. now owns 534,657 shares of the company’s stock valued at $765,000 after acquiring an additional 38,157 shares in the last quarter. Essex Investment Management Co. LLC lifted its holdings in shares of Biodesix by 1.4% during the 1st quarter. Essex Investment Management Co. LLC now owns 925,614 shares of the company’s stock valued at $1,324,000 after buying an additional 12,669 shares during the last quarter. Finally, Farallon Capital Management LLC bought a new position in Biodesix during the second quarter valued at about $2,874,000. 20.96% of the stock is owned by hedge funds and other institutional investors.

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.