Biodesix, Inc. (NASDAQ:BDSX) Short Interest Update

Biodesix, Inc. (NASDAQ:BDSX) saw a large increase in short interest in the month of September. As of September 30th, there was short interest totalling 419,700 shares, an increase of 29.3% from the September 15th total of 324,700 shares. Based on an average daily volume of 128,000 shares, the days-to-cover ratio is presently 3.3 days.

Hedge Funds Weigh In On Biodesix

Hedge funds and other institutional investors have recently modified their holdings of the company. CVI Holdings LLC purchased a new position in shares of Biodesix in the 2nd quarter worth about $59,000. Opaleye Management Inc. boosted its holdings in shares of Biodesix by 7.7% in the 1st quarter. Opaleye Management Inc. now owns 534,657 shares of the company’s stock worth $765,000 after purchasing an additional 38,157 shares in the last quarter. Essex Investment Management Co. LLC boosted its holdings in shares of Biodesix by 1.4% in the 1st quarter. Essex Investment Management Co. LLC now owns 925,614 shares of the company’s stock worth $1,324,000 after purchasing an additional 12,669 shares in the last quarter. Farallon Capital Management LLC purchased a new stake in Biodesix during the 2nd quarter valued at about $2,874,000. Finally, Perceptive Advisors LLC purchased a new stake in Biodesix during the 2nd quarter valued at about $3,326,000. 20.96% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently issued reports on BDSX. Scotiabank began coverage on Biodesix in a research note on Monday, September 16th. They set a “sector outperform” rating and a $3.00 price objective on the stock. Craig Hallum began coverage on Biodesix in a research note on Friday, July 26th. They set a “buy” rating and a $3.00 price objective on the stock. Seven research analysts have rated the stock with a buy rating, According to MarketBeat.com, Biodesix currently has an average rating of “Buy” and a consensus price target of $3.06.

Biodesix Price Performance

NASDAQ BDSX traded down $0.09 during trading on Monday, reaching $1.60. The company’s stock had a trading volume of 247,508 shares, compared to its average volume of 147,325. The stock has a market capitalization of $183.50 million, a PE ratio of -2.91 and a beta of 1.22. The company has a debt-to-equity ratio of 0.99, a current ratio of 3.28 and a quick ratio of 3.28. The firm has a fifty day moving average of $1.75 and a 200 day moving average of $1.58. Biodesix has a one year low of $1.15 and a one year high of $2.21.

Biodesix (NASDAQ:BDSX) last announced 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 business had revenue of $17.93 million for 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 period in the prior year, the company earned ($0.17) EPS. Analysts expect that Biodesix will post -0.36 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.