Short Interest in Biodesix, Inc. (NASDAQ:BDSX) Declines By 19.4%

Biodesix, Inc. (NASDAQ:BDSX) saw a significant decrease in short interest during the month of March. As of March 13th, there was short interest totaling 179,099 shares, a decrease of 19.4% from the February 26th total of 222,245 shares. Currently, 2.6% of the company’s shares are sold short. Based on an average trading volume of 176,780 shares, the days-to-cover ratio is currently 1.0 days.

Biodesix Price Performance

BDSX opened at $13.94 on Tuesday. Biodesix has a twelve month low of $3.44 and a twelve month high of $20.21. The firm has a market cap of $137.40 million, a price-to-earnings ratio of -2.81 and a beta of 0.58. The company has a current ratio of 1.87, a quick ratio of 1.86 and a debt-to-equity ratio of 41.11. The company has a fifty day simple moving average of $13.49 and a 200 day simple moving average of $9.51.

Biodesix (NASDAQ:BDSX) last posted its quarterly earnings data on Thursday, February 26th. The company reported ($0.49) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.05) by $0.56. Biodesix had a negative net margin of 39.85% and a negative return on equity of 1,760.83%. The company had revenue of $28.76 million during the quarter, compared to analysts’ expectations of $26.25 million. Equities research analysts expect that Biodesix will post -0.35 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Weiss Ratings reiterated a “sell (e+)” rating on shares of Biodesix in a report on Monday, December 22nd. Canaccord Genuity Group restated a “buy” rating and set a $20.00 price objective on shares of Biodesix in a research note on Tuesday, February 17th. Finally, William Blair upgraded Biodesix from a “market perform” rating to an “outperform” rating in a research note on Friday, February 27th. Five investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Biodesix has a consensus rating of “Moderate Buy” and an average target price of $32.50.

Insider Transactions at Biodesix

In other news, CEO Scott Hutton sold 3,559 shares of Biodesix stock in a transaction dated 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 $457,763.04. The trade was a 7.27% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Jack W. Schuler bought 82,465 shares of the company’s stock in a transaction that occurred on Thursday, January 22nd. The shares were acquired at an average cost of $10.96 per share, with a total value of $903,816.40. Following the transaction, the director owned 1,463,210 shares in the company, valued at approximately $16,036,781.60. This represents a 5.97% increase in their position. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders bought 182,465 shares of company stock worth $2,084,616 and sold 10,999 shares worth $116,095. Company insiders own 30.10% of the company’s stock.

Hedge Funds Weigh In On Biodesix

Institutional investors and hedge funds have recently made changes to their positions in the business. Cetera Investment Advisers bought a new stake in shares of Biodesix in the fourth quarter worth $68,000. Millennium Management LLC acquired a new position in Biodesix during the 3rd quarter worth $113,000. Oracle Investment Management Inc. acquired a new position in Biodesix during the 3rd quarter worth $113,000. DRW Securities LLC acquired a new stake in shares of Biodesix in the 4th quarter valued at about $105,000. Finally, State Street Corp raised its stake in shares of Biodesix by 15.6% in the 4th 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 in the last quarter. 20.96% of the stock is currently owned by hedge funds and other institutional investors.

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.