MDxHealth SA (NASDAQ:MDXH) Sees Large Increase in Short Interest

MDxHealth SA (NASDAQ:MDXH) was the target of a significant increase in short interest in July. As of July 15th, there was short interest totaling 956,179 shares, an increase of 2,794.0% from the June 30th total of 33,040 shares. Currently, 2.0% of the shares of the company are sold short. Based on an average trading volume of 662,840 shares, the short-interest ratio is presently 1.4 days.

Analyst Ratings Changes

MDXH has been the subject of several analyst reports. BTIG Research cut their price target on shares of MDxHealth from $7.00 to $4.00 and set a “buy” rating for the company in a report on Thursday, May 14th. Lake Street Capital cut their target price on MDxHealth from $9.00 to $5.00 and set a “buy” rating for the company in a research note on Thursday, May 14th. Weiss Ratings restated a “sell (d-)” rating on shares of MDxHealth in a research note on Friday, March 27th. TD Cowen reaffirmed a “buy” rating and set a $1.50 price objective (down from $7.00) on shares of MDxHealth in a report on Thursday, May 14th. Finally, Wall Street Zen cut MDxHealth from a “hold” rating to a “strong sell” rating in a research report on Saturday, May 16th. Three investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $3.50.

Institutional Investors Weigh In On MDxHealth

Large investors have recently added to or reduced their stakes in the business. Jefferies Financial Group Inc. acquired a new position in MDxHealth during the third quarter worth about $53,000. Russell Investments Group Ltd. purchased a new stake in MDxHealth in the 3rd quarter valued at approximately $461,000. Kennedy Capital Management LLC acquired a new stake in MDxHealth during the 3rd quarter valued at $1,826,000. Panoramic Capital LLC acquired a new stake in MDxHealth during the 3rd quarter valued at $721,000. Finally, Bank of America Corp DE increased its position in MDxHealth by 5,164.0% during the third quarter. Bank of America Corp DE now owns 15,055 shares of the company’s stock worth $70,000 after buying an additional 14,769 shares in the last quarter.

MDxHealth Price Performance

Shares of NASDAQ:MDXH opened at $0.41 on Friday. The firm has a market capitalization of $20.30 million, a price-to-earnings ratio of -0.63 and a beta of 1.43. The business’s 50 day simple moving average is $0.56 and its 200-day simple moving average is $2.11. MDxHealth has a 12 month low of $0.40 and a 12 month high of $5.33.

MDxHealth (NASDAQ:MDXH) last released its quarterly earnings data on Thursday, May 14th. The company reported ($0.19) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($0.05). The company had revenue of $23.90 million during the quarter, compared to analysts’ expectations of $30.89 million. On average, equities analysts anticipate that MDxHealth will post -0.6 earnings per share for the current year.

About MDxHealth

MDxHealth, headquartered in Mechelen, Belgium, with a U.S. presence in Newton, Massachusetts, is a molecular diagnostics company focused on improving the accuracy of cancer diagnosis and treatment decision making through epigenetic biomarker assays. The company specializes in developing and commercializing tests that detect DNA methylation changes associated with urological cancers, enabling more precise risk stratification and patient management.

MDxHealth’s lead product portfolio includes ConfirmMDx and SelectMDx.