Biodesix, Inc. (NASDAQ:BDSX) Short Interest Up 24.6% in February

Biodesix, Inc. (NASDAQ:BDSX) saw a large growth in short interest in the month of February. As of February 28th, there was short interest totalling 973,200 shares, a growth of 24.6% from the February 13th total of 781,300 shares. Based on an average daily volume of 428,500 shares, the days-to-cover ratio is currently 2.3 days. Currently, 2.2% of the shares of the company are sold short.

Wall Street Analysts Forecast Growth

Separately, William Blair reissued an “outperform” rating on shares of Biodesix in a report on Tuesday, March 4th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $2.95.

Insider Buying and Selling

In other Biodesix news, CEO Scott Hutton sold 83,660 shares of the business’s stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $0.92, for a total transaction of $76,967.20. Following the sale, the chief executive officer now owns 701,947 shares of the company’s stock, valued at $645,791.24. The trade was a 10.65 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In the last quarter, insiders have sold 128,702 shares of company stock valued at $118,406. 69.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Balyasny Asset Management L.P. purchased a new position in Biodesix in the fourth quarter worth $29,000. Barclays PLC grew its position in Biodesix by 1,140.5% in the third quarter. Barclays PLC now owns 23,036 shares of the company’s stock worth $41,000 after acquiring an additional 21,179 shares in the last quarter. Boothbay Fund Management LLC purchased a new position in Biodesix in the fourth quarter worth $52,000. MYDA Advisors LLC purchased a new position in Biodesix in the fourth quarter worth $76,000. Finally, Cubist Systematic Strategies LLC grew its position in Biodesix by 385.9% in the fourth quarter. Cubist Systematic Strategies LLC now owns 51,024 shares of the company’s stock worth $78,000 after acquiring an additional 40,524 shares in the last quarter. 20.96% of the stock is currently owned by hedge funds and other institutional investors.

Biodesix Stock Down 2.9 %

BDSX opened at $0.72 on Monday. The company has a fifty day moving average price of $1.00 and a 200-day moving average price of $1.36. The firm has a market capitalization of $105.41 million, a P/E ratio of -1.85 and a beta of 1.10. The company has a debt-to-equity ratio of 1.30, a current ratio of 3.40 and a quick ratio of 3.40. Biodesix has a one year low of $0.64 and a one year high of $2.04.

Biodesix (NASDAQ:BDSX) last released its quarterly earnings results on Monday, March 3rd. The company reported ($0.06) EPS for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.01. The firm had revenue of $20.43 million during the quarter, compared to analyst estimates of $19.92 million. Biodesix had a negative net margin of 66.84% and a negative return on equity of 275.79%. Equities research analysts expect that Biodesix will post -0.35 earnings per share for the current fiscal year.

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.