Short Interest in Biodesix, Inc. (NASDAQ:BDSX) Drops By 9.2%

Biodesix, Inc. (NASDAQ:BDSX) was the recipient of a large decline in short interest during the month of September. As of September 15th, there was short interest totalling 324,700 shares, a decline of 9.2% from the August 31st total of 357,500 shares. Based on an average trading volume of 150,800 shares, the days-to-cover ratio is presently 2.2 days.

Biodesix Stock Performance

Shares of Biodesix stock opened at $1.78 on Tuesday. Biodesix has a 52 week low of $1.15 and a 52 week high of $2.21. The company has a quick ratio of 3.28, a current ratio of 3.28 and a debt-to-equity ratio of 0.99. The business has a 50 day moving average price of $1.74 and a 200-day moving average price of $1.56. The company has a market cap of $204.14 million, a PE ratio of -3.24 and a beta of 1.23.

Biodesix (NASDAQ:BDSX) last released its quarterly earnings results on Wednesday, August 7th. The company reported ($0.08) EPS for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.01. Biodesix had a negative return on equity of 505.95% and a negative net margin of 73.08%. The business had revenue of $17.93 million during the quarter, compared to analyst estimates of $16.05 million. During the same period in the prior year, the firm posted ($0.17) EPS. Equities analysts anticipate that Biodesix will post -0.36 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

Institutional Trading of Biodesix

A number of hedge funds have recently bought and sold shares of BDSX. AIGH Capital Management LLC boosted its holdings in shares of Biodesix by 74.0% in the 2nd quarter. AIGH Capital Management LLC now owns 5,779,812 shares of the company’s stock worth $8,843,000 after buying an additional 2,458,727 shares during the last quarter. Perceptive Advisors LLC bought a new stake in Biodesix in the second quarter worth about $3,326,000. Farallon Capital Management LLC bought a new stake in Biodesix in the second quarter worth about $2,874,000. Opaleye Management Inc. boosted its stake in Biodesix by 9.0% in the fourth 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 last quarter. Finally, CVI Holdings LLC bought a new position in shares of Biodesix during the 2nd quarter valued at approximately $59,000. 20.96% of the stock is currently owned by institutional investors.

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.