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

Biodesix, Inc. (NASDAQ:BDSX) was the recipient of a significant decline in short interest during the month of May. As of May 31st, there was short interest totalling 226,700 shares, a decline of 34.5% from the May 15th total of 346,300 shares. Based on an average trading volume of 141,000 shares, the days-to-cover ratio is currently 1.6 days.

Biodesix Stock Performance

Shares of Biodesix stock traded up $0.02 during mid-day trading on Friday, hitting $1.60. The stock had a trading volume of 294,913 shares, compared to its average volume of 103,609. The firm has a 50-day moving average of $1.39 and a two-hundred day moving average of $1.58. The company has a debt-to-equity ratio of 7.69, a quick ratio of 0.91 and a current ratio of 0.91. Biodesix has a 12-month low of $1.03 and a 12-month high of $2.21.

Biodesix (NASDAQ:BDSX) last issued its quarterly earnings data on Wednesday, May 8th. The company reported ($0.14) earnings per share for the quarter, topping the consensus estimate of ($0.15) by $0.01. Biodesix had a negative return on equity of 29,379.44% and a negative net margin of 85.80%. The company had revenue of $14.82 million during the quarter, compared to analyst estimates of $14.00 million. Research analysts predict that Biodesix will post -0.36 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have weighed in on BDSX. TD Cowen started coverage on shares of Biodesix in a research note on Monday, May 13th. They issued a “buy” rating and a $2.80 target price on the stock. Canaccord Genuity Group reissued a “buy” rating and set a $3.50 price objective on shares of Biodesix in a research note on Monday, March 4th. Finally, Lake Street Capital started coverage on Biodesix in a report on Friday, May 3rd. They issued a “buy” rating and a $3.00 target price for the company. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, Biodesix has an average rating of “Buy” and an average target price of $3.10.

Institutional Trading of Biodesix

A number of hedge funds and other institutional investors have recently modified their holdings of BDSX. Oracle Investment Management Inc. acquired a new position in Biodesix in the third quarter valued at about $69,000. Opaleye Management Inc. raised its stake 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 acquiring an additional 40,927 shares during the period. Finally, Essex Investment Management Co. LLC raised its stake 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 valued at $1,324,000 after acquiring an additional 12,669 shares during the period. 20.96% of the stock is owned by institutional investors and hedge funds.

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.