Short Interest in Biodesix, Inc. (NASDAQ:BDSX) Expands By 29.5%

Biodesix, Inc. (NASDAQ:BDSX) was the target of a large growth in short interest during the month of March. As of March 15th, there was short interest totalling 1,260,000 shares, a growth of 29.5% from the February 28th total of 973,200 shares. Currently, 2.8% of the shares of the company are sold short. Based on an average trading volume of 417,700 shares, the days-to-cover ratio is currently 3.0 days.

Insider Activity

In related news, CEO Scott Hutton sold 83,660 shares of the firm’s stock in a transaction that occurred 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 sale, the chief executive officer now owns 701,947 shares of the company’s stock, valued at approximately $645,791.24. This trade represents a 10.65 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last ninety days, insiders sold 128,702 shares of company stock worth $118,406. 69.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Biodesix

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BDSX. Shay Capital LLC acquired a new position in shares of Biodesix in the 4th quarter valued at about $431,000. OMERS ADMINISTRATION Corp acquired a new stake in shares of Biodesix during the 4th quarter valued at $154,000. Millennium Management LLC increased its stake in shares of Biodesix by 20.2% in the fourth quarter. Millennium Management LLC now owns 198,671 shares of the company’s stock worth $304,000 after acquiring an additional 33,329 shares during the last quarter. Cubist Systematic Strategies LLC raised its holdings in shares of Biodesix by 385.9% during the fourth quarter. Cubist Systematic Strategies LLC now owns 51,024 shares of the company’s stock worth $78,000 after acquiring an additional 40,524 shares in the last quarter. Finally, Bridgeway Capital Management LLC boosted its position in Biodesix by 38.6% during the fourth quarter. Bridgeway Capital Management LLC now owns 394,311 shares of the company’s stock valued at $603,000 after purchasing an additional 109,800 shares during the last quarter. Institutional investors and hedge funds own 20.96% of the company’s stock.

Analyst Upgrades and Downgrades

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

Biodesix Trading Down 3.1 %

Biodesix stock opened at $0.61 on Wednesday. The stock has a market capitalization of $88.48 million, a PE ratio of -1.55 and a beta of 1.10. 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 has a 12-month low of $0.59 and a 12-month high of $2.04. The firm has a 50 day simple moving average of $0.87 and a 200-day simple moving average of $1.26.

Biodesix (NASDAQ:BDSX) last announced its quarterly earnings data on Monday, March 3rd. The company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.01. The company had revenue of $20.43 million for the quarter, compared to analysts’ expectations of $19.92 million. Biodesix had a negative net margin of 66.84% and a negative return on equity of 275.79%. As a group, equities research 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.