Biodesix, Inc. (NASDAQ:BDSX) Short Interest Update

Biodesix, Inc. (NASDAQ:BDSX) was the target of a significant increase in short interest in September. As of September 30th, there was short interest totalling 419,700 shares, an increase of 29.3% from the September 15th total of 324,700 shares. Based on an average trading volume of 128,000 shares, the short-interest ratio is currently 3.3 days.

Biodesix Stock Down 5.3 %

BDSX traded down $0.09 during mid-day trading on Monday, reaching $1.60. 247,508 shares of the stock were exchanged, compared to its average volume of 147,325. Biodesix has a 1 year low of $1.15 and a 1 year high of $2.21. The company has a debt-to-equity ratio of 0.99, a quick ratio of 3.28 and a current ratio of 3.28. The stock has a market capitalization of $183.50 million, a PE ratio of -2.91 and a beta of 1.22. The company has a 50 day moving average price of $1.75 and a two-hundred day moving average price of $1.58.

Biodesix (NASDAQ:BDSX) last released its quarterly earnings results on Wednesday, August 7th. The company reported ($0.08) earnings per share for the quarter, topping the consensus estimate of ($0.09) by $0.01. The business had revenue of $17.93 million for the quarter, compared to analysts’ expectations of $16.05 million. Biodesix had a negative net margin of 73.08% and a negative return on equity of 505.95%. During the same period in the previous year, the company earned ($0.17) earnings per share. As a group, research analysts anticipate that Biodesix will post -0.36 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on BDSX. Scotiabank began coverage on Biodesix in a research report on Monday, September 16th. They set a “sector outperform” rating and a $3.00 target price on the stock. Craig Hallum initiated coverage on shares of Biodesix in a report on Friday, July 26th. They set a “buy” rating and a $3.00 price objective on the stock. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Biodesix presently has an average rating of “Buy” and a consensus target price of $3.06.

Institutional Trading of Biodesix

A number of institutional investors and hedge funds have recently modified their holdings of the business. Essex Investment Management Co. LLC increased its holdings in Biodesix by 1.4% during the first quarter. Essex Investment Management Co. LLC now owns 925,614 shares of the company’s stock worth $1,324,000 after buying an additional 12,669 shares during the last quarter. Opaleye Management Inc. raised its holdings in shares of Biodesix by 7.7% in the 1st quarter. Opaleye Management Inc. now owns 534,657 shares of the company’s stock worth $765,000 after purchasing an additional 38,157 shares during the period. AIGH Capital Management LLC lifted its stake in Biodesix by 74.0% in the second quarter. AIGH Capital Management LLC now owns 5,779,812 shares of the company’s stock valued at $8,843,000 after purchasing an additional 2,458,727 shares during the last quarter. Farallon Capital Management LLC bought a new position in Biodesix during the second quarter valued at $2,874,000. Finally, CVI Holdings LLC bought a new position in Biodesix during the second quarter valued at $59,000. 20.96% of the stock is owned by hedge funds and other institutional investors.

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.