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

Biodesix, Inc. (NASDAQ:BDSX) saw a large decrease in short interest in September. As of September 15th, there was short interest totalling 324,700 shares, a decrease of 9.2% from the August 31st total of 357,500 shares. Based on an average daily volume of 150,800 shares, the short-interest ratio is currently 2.2 days.

Hedge Funds Weigh In On Biodesix

Institutional investors have recently added to or reduced their stakes in the company. AIGH Capital Management LLC raised its stake in Biodesix by 74.0% during the second quarter. AIGH Capital Management LLC now owns 5,779,812 shares of the company’s stock valued at $8,843,000 after buying an additional 2,458,727 shares during the last quarter. Perceptive Advisors LLC bought a new position in Biodesix in the 2nd quarter worth about $3,326,000. Farallon Capital Management LLC purchased a new stake in Biodesix during the 2nd quarter valued at about $2,874,000. Essex Investment Management Co. LLC increased its stake in Biodesix by 1.4% during the 1st quarter. Essex Investment Management Co. LLC now owns 925,614 shares of the company’s stock valued at $1,324,000 after purchasing an additional 12,669 shares in the last quarter. Finally, Opaleye Management Inc. raised its holdings in Biodesix by 7.7% in the first quarter. Opaleye Management Inc. now owns 534,657 shares of the company’s stock worth $765,000 after buying an additional 38,157 shares during the last quarter. Institutional investors own 20.96% of the company’s stock.

Biodesix Trading Up 2.3 %

NASDAQ:BDSX traded up $0.04 during mid-day trading on Monday, reaching $1.75. 52,748 shares of the company’s stock traded hands, compared to its average volume of 146,709. The company has a 50 day moving average price of $1.74 and a 200-day moving average price of $1.56. The firm has a market capitalization of $200.70 million, a price-to-earnings ratio of -3.15 and a beta of 1.23. The company has a debt-to-equity ratio of 0.99, a current ratio of 3.28 and a quick ratio of 3.28. Biodesix has a 12-month low of $1.15 and a 12-month high of $2.21.

Biodesix (NASDAQ:BDSX) last announced its quarterly earnings results on Wednesday, August 7th. The company reported ($0.08) EPS for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.01. Biodesix had a negative return on equity of 505.95% and a negative net margin of 73.08%. The company had revenue of $17.93 million during the quarter, compared to analyst estimates of $16.05 million. During the same quarter last year, the firm posted ($0.17) earnings per share. On average, sell-side analysts predict that Biodesix will post -0.36 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Craig Hallum began coverage on shares of Biodesix in a research report on Friday, July 26th. They issued a “buy” rating and a $3.00 target price on the stock. Scotiabank assumed coverage on Biodesix in a report on Monday, September 16th. They set a “sector outperform” rating and a $3.00 target price for the company. Seven analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $3.06.

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.