Biodesix, Inc. (NASDAQ:BDSX) Short Interest Up 60.5% in November

Biodesix, Inc. (NASDAQ:BDSX) was the target of a large increase in short interest in November. As of November 30th, there was short interest totalling 624,200 shares, an increase of 60.5% from the November 15th total of 388,900 shares. Based on an average daily trading volume, of 408,100 shares, the days-to-cover ratio is currently 1.5 days.

Analysts Set New Price Targets

Separately, Scotiabank initiated coverage on shares of Biodesix in a research report on Monday, September 16th. They set a “sector outperform” rating and a $3.00 target price on the stock. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $3.06.

Insider Buying and Selling at Biodesix

In other news, Director Jack W. Schuler purchased 200,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The stock was bought at an average cost of $1.17 per share, with a total value of $234,000.00. Following the completion of the purchase, the director now owns 31,094,935 shares in the company, valued at approximately $36,381,073.95. This represents a 0.65 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Matthew Strobeck purchased 40,000 shares of the business’s stock in a transaction on Tuesday, November 5th. The shares were purchased at an average price of $1.40 per share, with a total value of $56,000.00. Following the acquisition, the director now directly owns 2,606,879 shares in the company, valued at $3,649,630.60. This represents a 1.56 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased a total of 315,000 shares of company stock valued at $393,500 in the last three months. 69.20% of the stock is currently owned by corporate insiders.

Institutional Trading of Biodesix

Several institutional investors and hedge funds have recently made changes to their positions in BDSX. Wilmington Savings Fund Society FSB bought a new position in shares of Biodesix in the third quarter worth about $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 worth $8,843,000 after acquiring an additional 2,458,727 shares in the last quarter. Perceptive Advisors LLC purchased a new position in shares of Biodesix during the second quarter worth approximately $3,326,000. Farallon Capital Management LLC bought a new stake in shares of Biodesix during the second quarter valued at approximately $2,874,000. Finally, Geode Capital Management LLC boosted its holdings in shares of Biodesix by 50.7% in the third quarter. Geode Capital Management LLC now owns 804,576 shares of the company’s stock valued at $1,433,000 after purchasing an additional 270,724 shares during the period. 20.96% of the stock is currently owned by institutional investors.

Biodesix Trading Up 3.9 %

Shares of Biodesix stock traded up $0.05 during trading on Friday, hitting $1.34. The stock had a trading volume of 223,456 shares, compared to its average volume of 211,898. The stock has a market cap of $194.93 million, a PE ratio of -3.44 and a beta of 1.14. Biodesix has a 12 month low of $1.11 and a 12 month high of $2.21. The firm’s fifty day simple moving average is $1.46 and its 200-day simple moving average is $1.59. 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 earnings results on Friday, November 1st. The company reported ($0.07) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.07). Biodesix had a negative return on equity of 275.79% and a negative net margin of 66.84%. The business had revenue of $18.15 million during the quarter, compared to analyst estimates of $18.45 million. During the same quarter in the previous year, the business earned ($0.12) earnings per share. As a group, sell-side analysts expect that Biodesix will post -0.35 EPS for the current fiscal year.

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.