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

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

Biodesix Price Performance

Shares of Biodesix stock traded up $0.02 on Friday, reaching $1.48. 251,805 shares of the stock were exchanged, compared to its average volume of 213,132. 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 firm has a market cap of $215.29 million, a PE ratio of -3.79 and a beta of 1.14. The firm’s 50 day moving average is $1.41 and its 200-day moving average is $1.60. Biodesix has a one year low of $1.11 and a one year high of $2.21.

Biodesix (NASDAQ:BDSX) last released its earnings results on Friday, November 1st. The company reported ($0.07) earnings per share for the quarter, hitting 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 firm had revenue of $18.15 million during the quarter, compared to analysts’ expectations of $18.45 million. During the same period in the prior year, the company earned ($0.12) earnings per share. As a group, analysts anticipate that Biodesix will post -0.35 EPS for the current fiscal year.

Insider Transactions at Biodesix

In other Biodesix news, Director Jack W. Schuler purchased 200,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The shares were acquired at an average cost of $1.17 per share, for a total transaction of $234,000.00. Following the completion of the purchase, the director now owns 31,094,935 shares of the company’s stock, valued at approximately $36,381,073.95. The trade was a 0.65 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman John Patience purchased 75,000 shares of the stock in a transaction that occurred on Tuesday, November 5th. The shares were acquired at an average cost of $1.38 per share, for a total transaction of $103,500.00. Following the completion of the transaction, the chairman now owns 2,153,298 shares of the company’s stock, valued at $2,971,551.24. This trade represents a 3.61 % increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 315,000 shares of company stock worth $393,500. Company insiders own 69.20% of the company’s stock.

Institutional Trading of Biodesix

Large investors have recently bought and sold shares of the business. 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 shares of Biodesix by 74.0% in the second quarter. AIGH Capital Management LLC now owns 5,779,812 shares of the company’s stock worth $8,843,000 after purchasing an additional 2,458,727 shares during the last quarter. Perceptive Advisors LLC bought a new stake in shares of Biodesix in the 2nd quarter valued at about $3,326,000. Farallon Capital Management LLC acquired a new stake in Biodesix during the 2nd quarter valued at approximately $2,874,000. Finally, Perkins Capital Management Inc. raised its stake in Biodesix by 74.7% during the third quarter. Perkins Capital Management Inc. now owns 724,782 shares of the company’s stock worth $1,290,000 after buying an additional 310,000 shares during the last quarter. 20.96% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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