Biodesix, Inc. (NASDAQ:BDSX) Short Interest Update

Biodesix, Inc. (NASDAQ:BDSX) was the recipient of a significant decrease in short interest in the month of August. As of August 31st, there was short interest totalling 357,500 shares, a decrease of 15.6% from the August 15th total of 423,500 shares. Based on an average daily trading volume, of 143,400 shares, the days-to-cover ratio is currently 2.5 days.

Hedge Funds Weigh In On Biodesix

Large investors have recently bought and sold shares of the stock. Opaleye Management Inc. grew its holdings in Biodesix by 9.0% during the fourth quarter. Opaleye Management Inc. now owns 496,500 shares of the company’s stock valued at $914,000 after purchasing an additional 40,927 shares during the last quarter. Essex Investment Management Co. LLC lifted its holdings in Biodesix by 1.4% during the first quarter. Essex Investment Management Co. LLC now owns 925,614 shares of the company’s stock worth $1,324,000 after acquiring an additional 12,669 shares in the last quarter. AIGH Capital Management LLC raised its position in Biodesix by 74.0% in the 2nd quarter. AIGH Capital Management LLC now owns 5,779,812 shares of the company’s stock valued at $8,843,000 after buying an additional 2,458,727 shares during the last quarter. Oracle Investment Management Inc. boosted its holdings in shares of Biodesix by 44.8% in the 4th quarter. Oracle Investment Management Inc. now owns 60,939 shares of the company’s stock valued at $112,000 after buying an additional 18,863 shares during the last quarter. Finally, Perceptive Advisors LLC bought a new position in shares of Biodesix in the second quarter valued at about $3,326,000. Institutional investors and hedge funds own 20.96% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on BDSX. Craig Hallum initiated coverage on Biodesix in a research note on Friday, July 26th. They set a “buy” rating and a $3.00 target price for the company. Scotiabank assumed coverage on shares of Biodesix in a report on Monday. They issued a “sector outperform” rating and a $3.00 target price on the stock. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $3.06.

Biodesix Stock Performance

Shares of BDSX stock remained flat at $1.80 during trading hours on Wednesday. The stock had a trading volume of 36,521 shares, compared to its average volume of 134,683. The stock has a 50-day simple moving average of $1.74 and a two-hundred day simple moving average of $1.55. Biodesix has a 1-year low of $1.15 and a 1-year high of $2.21. The company has a debt-to-equity ratio of 0.99, a current ratio of 3.28 and a quick ratio of 3.28. The firm has a market cap of $205.86 million, a P/E ratio of -3.26 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, topping the consensus estimate of ($0.09) by $0.01. The business had revenue of $17.93 million during the quarter, compared to analysts’ expectations of $16.05 million. Biodesix had a negative return on equity of 505.95% and a negative net margin of 73.08%. During the same quarter in the prior year, the business earned ($0.17) earnings per share. On average, analysts forecast that Biodesix will post -0.36 EPS for the current 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.