Short Interest in Biodesix, Inc. (NASDAQ:BDSX) Drops By 6.4%

Biodesix, Inc. (NASDAQ:BDSX) was the target of a large decrease in short interest during the month of November. As of November 15th, there was short interest totalling 388,900 shares, a decrease of 6.4% from the October 31st total of 415,700 shares. Based on an average trading volume of 387,700 shares, the days-to-cover ratio is currently 1.0 days.

Insider Activity

In other news, Director Jack W. Schuler acquired 200,000 shares of the company’s stock in a transaction on Wednesday, November 20th. The shares were bought at an average cost of $1.17 per share, with a total value of $234,000.00. Following the purchase, the director now owns 31,094,935 shares of the company’s stock, valued at $36,381,073.95. This represents a 0.65 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Matthew Strobeck bought 40,000 shares of the stock in a transaction dated Tuesday, November 5th. The stock was purchased at an average cost of $1.40 per share, for a total transaction of $56,000.00. Following the acquisition, the director now owns 2,606,879 shares of the company’s stock, valued at approximately $3,649,630.60. This represents a 1.56 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 315,000 shares of company stock worth $393,500. 69.20% of the stock is currently owned by insiders.

Institutional Trading of Biodesix

A number of hedge funds have recently bought and sold shares of BDSX. Wilmington Savings Fund Society FSB acquired a new position in Biodesix in the third quarter valued at $10,849,000. AIGH Capital Management LLC grew its stake 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 in the last quarter. Perceptive Advisors LLC purchased a new stake in shares of Biodesix during the 2nd quarter valued at about $3,326,000. Farallon Capital Management LLC purchased a new stake in shares of Biodesix during the second quarter valued at approximately $2,874,000. Finally, Geode Capital Management LLC boosted its position in Biodesix by 50.7% in the 3rd quarter. Geode Capital Management LLC now owns 804,576 shares of the company’s stock valued at $1,433,000 after buying an additional 270,724 shares during the last quarter. Institutional investors and hedge funds own 20.96% of the company’s stock.

Analyst Ratings Changes

Separately, Scotiabank began coverage on shares of Biodesix in a research report on Monday, September 16th. They set a “sector outperform” rating and a $3.00 target price on the stock. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $3.06.

Biodesix Price Performance

NASDAQ:BDSX traded down $0.03 during trading hours on Wednesday, reaching $1.33. 53,079 shares of the company traded hands, compared to its average volume of 208,553. Biodesix has a 1-year low of $1.11 and a 1-year high of $2.21. The firm’s 50-day moving average is $1.53 and its 200-day moving average is $1.60. 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 (NASDAQ:BDSX) last posted its quarterly earnings data on Friday, November 1st. The company reported ($0.07) EPS for the quarter, hitting analysts’ consensus estimates of ($0.07). The firm had revenue of $18.15 million during the quarter, compared to analysts’ expectations of $18.45 million. Biodesix had a negative return on equity of 275.79% and a negative net margin of 66.84%. During the same quarter last year, the business posted ($0.12) EPS. On average, sell-side analysts anticipate that Biodesix will post -0.35 EPS for the current fiscal year.

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.