Short Interest in Biodesix, Inc. (NASDAQ:BDSX) Rises By 24.6%

Biodesix, Inc. (NASDAQ:BDSX) was the recipient of a significant increase in short interest during the month of February. As of February 28th, there was short interest totalling 973,200 shares, an increase of 24.6% from the February 13th total of 781,300 shares. Currently, 2.2% of the shares of the stock are short sold. Based on an average daily volume of 428,500 shares, the days-to-cover ratio is currently 2.3 days.

Analyst Ratings Changes

Separately, William Blair reissued an “outperform” rating on shares of Biodesix in a research report on Tuesday, March 4th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and an average price target of $2.95.

Biodesix Stock Up 3.8 %

NASDAQ:BDSX opened at $0.75 on Tuesday. The firm has a market capitalization of $109.47 million, a PE ratio of -1.92 and a beta of 1.10. The stock has a 50 day moving average of $0.98 and a 200-day moving average of $1.35. Biodesix has a 52 week low of $0.64 and a 52 week high of $2.04. The company has a current ratio of 3.40, a quick ratio of 3.40 and a debt-to-equity ratio of 1.30.

Biodesix (NASDAQ:BDSX) last issued its quarterly earnings results on Monday, March 3rd. The company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.01. The firm had revenue of $20.43 million during the quarter, compared to analyst estimates of $19.92 million. Biodesix had a negative return on equity of 275.79% and a negative net margin of 66.84%. Analysts predict that Biodesix will post -0.35 EPS for the current year.

Insider Buying and Selling

In other news, CEO Scott Hutton sold 83,660 shares of the business’s stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $0.92, for a total value of $76,967.20. Following the completion of the transaction, the chief executive officer now directly owns 701,947 shares of the company’s stock, valued at $645,791.24. The trade was a 10.65 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Over the last ninety days, insiders sold 128,702 shares of company stock valued at $118,406. 69.20% of the stock is owned by insiders.

Institutional Trading of Biodesix

Hedge funds and other institutional investors have recently modified their holdings of the company. AIGH Capital Management LLC increased its position in Biodesix by 8.8% during the fourth quarter. AIGH Capital Management LLC now owns 6,179,812 shares of the company’s stock worth $9,455,000 after buying an additional 500,000 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new stake in shares of Biodesix in the third quarter valued at about $10,849,000. Birchview Capital LP lifted its stake in Biodesix by 0.7% during the fourth quarter. Birchview Capital LP now owns 5,581,176 shares of the company’s stock worth $8,539,000 after purchasing an additional 40,000 shares during the period. Silverarc Capital Management LLC lifted its stake in Biodesix by 21.7% during the fourth quarter. Silverarc Capital Management LLC now owns 4,332,281 shares of the company’s stock worth $6,628,000 after purchasing an additional 771,187 shares during the period. Finally, Samjo Management LLC bought a new position in Biodesix during the fourth quarter worth about $3,790,000. 20.96% of the stock is currently owned by hedge funds and other institutional investors.

Biodesix Company Profile

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.