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

Biodesix, Inc. (NASDAQ:BDSX) saw a large growth in short interest in December. As of December 15th, there was short interest totalling 903,100 shares, a growth of 44.7% from the November 30th total of 624,200 shares. Based on an average trading volume of 395,100 shares, the days-to-cover ratio is presently 2.3 days.

Biodesix Stock Up 1.4 %

Shares of Biodesix stock traded up $0.02 on Friday, hitting $1.48. The company had a trading volume of 251,805 shares, compared to its average volume of 213,132. Biodesix has a 1 year low of $1.11 and a 1 year high of $2.21. The company has a debt-to-equity ratio of 1.30, a quick ratio of 3.40 and a current ratio of 3.40. The stock has a 50 day moving average of $1.41 and a 200-day moving average of $1.60. The stock has a market capitalization of $215.29 million, a price-to-earnings ratio of -3.79 and a beta of 1.14.

Biodesix (NASDAQ:BDSX) last released its quarterly earnings results on Friday, November 1st. The company reported ($0.07) EPS for the quarter, meeting analysts’ consensus estimates 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 period in the prior year, the firm posted ($0.12) EPS. As a group, sell-side analysts forecast that Biodesix will post -0.35 earnings per share for the current year.

Insider Activity

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

Institutional Trading of Biodesix

Institutional investors and hedge funds have recently made changes to their positions in the company. Wilmington Savings Fund Society FSB purchased a new position in Biodesix during the third quarter worth about $10,849,000. AIGH Capital Management LLC lifted its position in shares of Biodesix by 74.0% during the 2nd quarter. AIGH Capital Management LLC now owns 5,779,812 shares of the company’s stock worth $8,843,000 after buying an additional 2,458,727 shares in the last quarter. Perceptive Advisors LLC bought a new position in shares of Biodesix during the 2nd quarter worth approximately $3,326,000. Farallon Capital Management LLC purchased a new position in shares of Biodesix in the 2nd quarter worth approximately $2,874,000. Finally, Geode Capital Management LLC grew 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 acquiring an additional 270,724 shares in the last quarter. Hedge funds and other institutional investors own 20.96% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.