Biodesix, Inc. (NASDAQ:BDSX) Short Interest Up 44.7% in December

Biodesix, Inc. (NASDAQ:BDSX) was the recipient of a large increase in short interest in 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 days-to-cover ratio is currently 2.3 days.

Insider Buying and Selling at Biodesix

In related news, Director Jack W. Schuler purchased 200,000 shares of Biodesix stock in a transaction dated Wednesday, November 20th. The shares were acquired at an average price of $1.17 per share, with a total value of $234,000.00. Following the completion of the transaction, the director now owns 31,094,935 shares of the company’s stock, valued at approximately $36,381,073.95. This trade represents a 0.65 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Matthew Strobeck purchased 40,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The stock was purchased at an average price of $1.40 per share, with a total value of $56,000.00. Following the completion of the purchase, the director now directly owns 2,606,879 shares of the company’s stock, valued at approximately $3,649,630.60. This represents a 1.56 % increase in their position. The disclosure for this purchase can be found here. Insiders acquired a total of 315,000 shares of company stock worth $393,500 in the last 90 days. 69.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Biodesix

Several hedge funds have recently modified their holdings of BDSX. AIGH Capital Management LLC increased 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 purchasing an additional 2,458,727 shares in the last quarter. Farallon Capital Management LLC purchased a new stake in shares of Biodesix in the 2nd quarter valued at approximately $2,874,000. CVI Holdings LLC acquired a new position in Biodesix in the 2nd quarter worth approximately $59,000. Perceptive Advisors LLC purchased a new position in Biodesix during the 2nd quarter worth approximately $3,326,000. Finally, Perkins Capital Management Inc. raised its stake in Biodesix by 74.7% during the 3rd quarter. Perkins Capital Management Inc. now owns 724,782 shares of the company’s stock valued at $1,290,000 after purchasing an additional 310,000 shares during the period. 20.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Scotiabank initiated coverage on Biodesix in a research report on Monday, September 16th. They issued a “sector outperform” rating and a $3.00 target price for the company. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $3.06.

Biodesix Price Performance

Shares of NASDAQ BDSX traded down $0.02 during midday trading on Monday, reaching $1.47. The company’s stock had a trading volume of 47,222 shares, compared to its average volume of 212,444. The company has a market cap of $213.11 million, a price-to-earnings ratio of -3.76 and a beta of 1.14. Biodesix has a one year low of $1.11 and a one year high of $2.21. The company has a current ratio of 3.40, a quick ratio of 3.40 and a debt-to-equity ratio of 1.30. The company has a 50 day moving average price of $1.41 and a 200 day moving average price of $1.60.

Biodesix (NASDAQ:BDSX) last posted its quarterly 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). The company had revenue of $18.15 million for the quarter, compared to analysts’ expectations of $18.45 million. Biodesix had a negative return on equity of 275.79% and a negative net margin of 66.84%. During the same quarter in the prior year, the company earned ($0.12) earnings per share. On average, equities research analysts expect that Biodesix will post -0.35 EPS for the current 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.