Biodesix, Inc. (NASDAQ:BDSX) Sees Large Decline in Short Interest

Biodesix, Inc. (NASDAQ:BDSX) was the target of a large decline in short interest in January. As of January 30th, there was short interest totaling 249,443 shares, a decline of 48.4% from the January 15th total of 483,591 shares. Approximately 4.5% of the company’s stock are short sold. Based on an average trading volume of 419,332 shares, the days-to-cover ratio is presently 0.6 days. Based on an average trading volume of 419,332 shares, the days-to-cover ratio is presently 0.6 days. Approximately 4.5% of the company’s stock are short sold.

Insider Buying and Selling at Biodesix

In other news, Director Jack W. Schuler bought 20,000 shares of the company’s stock in a transaction that occurred on Monday, January 26th. The shares were acquired at an average price of $11.80 per share, with a total value of $236,000.00. Following the transaction, the director owned 1,563,210 shares in the company, valued at $18,445,878. This represents a 1.30% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Scott Hutton sold 3,559 shares of the company’s stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $10.08, for a total value of $35,874.72. Following the transaction, the chief executive officer directly owned 45,413 shares of the company’s stock, valued at approximately $457,763.04. This trade represents a 7.27% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders purchased 182,465 shares of company stock worth $2,084,616 and sold 7,672 shares worth $73,576. Insiders own 30.10% of the company’s stock.

Hedge Funds Weigh In On Biodesix

Several large investors have recently modified their holdings of BDSX. XTX Topco Ltd lifted its stake in shares of Biodesix by 99.4% during the 2nd quarter. XTX Topco Ltd now owns 205,647 shares of the company’s stock worth $58,000 after buying an additional 102,494 shares during the last quarter. DRW Securities LLC bought a new position in Biodesix in the 4th quarter valued at about $105,000. Oracle Investment Management Inc. acquired a new stake in Biodesix during the third quarter worth approximately $113,000. Millennium Management LLC bought a new stake in shares of Biodesix during the third quarter worth approximately $113,000. Finally, State Street Corp grew its position in shares of Biodesix by 15.6% in the fourth quarter. State Street Corp now owns 17,802 shares of the company’s stock valued at $121,000 after purchasing an additional 2,400 shares during the last quarter. 20.96% of the stock is owned by institutional investors.

Biodesix Stock Performance

Shares of NASDAQ BDSX opened at $11.45 on Friday. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 41.11. The company has a market capitalization of $91.14 million, a P/E ratio of -2.06 and a beta of 0.67. Biodesix has a 12 month low of $3.44 and a 12 month high of $20.40. The stock has a 50 day moving average of $8.46 and a 200-day moving average of $8.00.

Analysts Set New Price Targets

A number of research analysts have weighed in on BDSX shares. Weiss Ratings restated a “sell (e+)” rating on shares of Biodesix in a research note on Monday, December 22nd. Wall Street Zen raised Biodesix from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Four analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Biodesix has an average rating of “Moderate Buy” and a consensus target price of $32.50.

Biodesix Company Profile

Biodesix, Inc is a commercial-stage molecular diagnostics company headquartered in Boulder, Colorado, that develops and delivers blood-based tests to improve the diagnosis and management of lung diseases, including lung cancer. The company integrates advanced proteomic and, more recently, genomic technologies to offer noninvasive testing solutions designed to guide clinical decision-making. Biodesix operates a CLIA-certified and CAP-accredited laboratory, allowing it to process patient samples at scale and maintain rigorous quality standards.

The company’s flagship product, VeriStrat®, is a proteomic test that stratifies patients with non-small cell lung cancer into groups more likely to benefit from specific therapies.