Short Interest in Biodesix, Inc. (NASDAQ:BDSX) Decreases By 15.6%

Biodesix, Inc. (NASDAQ:BDSX) was the recipient of a significant decline in short interest in the month of August. As of August 31st, there was short interest totalling 357,500 shares, a decline of 15.6% from the August 15th total of 423,500 shares. Based on an average daily volume of 143,400 shares, the days-to-cover ratio is currently 2.5 days.

Institutional Trading of Biodesix

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Opaleye Management Inc. grew its position in shares of Biodesix by 9.0% in the 4th quarter. Opaleye Management Inc. now owns 496,500 shares of the company’s stock valued at $914,000 after buying an additional 40,927 shares during the last quarter. Essex Investment Management Co. LLC lifted its position in shares of Biodesix by 1.4% in the first quarter. Essex Investment Management Co. LLC now owns 925,614 shares of the company’s stock valued at $1,324,000 after acquiring an additional 12,669 shares in the last quarter. AIGH Capital Management LLC raised its position 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 valued at $8,843,000 after buying an additional 2,458,727 shares during the last quarter. Oracle Investment Management Inc. lifted its stake in shares of Biodesix by 44.8% in the 4th quarter. Oracle Investment Management Inc. now owns 60,939 shares of the company’s stock valued at $112,000 after purchasing an additional 18,863 shares in the last quarter. Finally, Perceptive Advisors LLC bought a new stake in shares of Biodesix in the second quarter worth $3,326,000. Institutional investors and hedge funds own 20.96% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Biodesix Stock Performance

Shares of Biodesix stock traded up $0.03 on Monday, hitting $1.80. 59,312 shares of the company’s stock were exchanged, compared to its average volume of 135,019. The company has a debt-to-equity ratio of 0.99, a quick ratio of 3.28 and a current ratio of 3.28. Biodesix has a 1 year low of $1.15 and a 1 year high of $2.21. The stock has a market capitalization of $206.43 million, a PE ratio of -3.22 and a beta of 1.23. The company has a 50-day simple moving average of $1.73 and a 200-day simple moving average of $1.55.

Biodesix (NASDAQ:BDSX) last posted its earnings results on Wednesday, August 7th. The company reported ($0.08) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.01. The company had revenue of $17.93 million during the quarter, compared to analyst estimates of $16.05 million. Biodesix had a negative return on equity of 505.95% and a negative net margin of 73.08%. During the same quarter in the prior year, the business earned ($0.17) earnings per share. As a group, equities analysts anticipate that Biodesix will post -0.36 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.