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

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

Biodesix Trading Up 1.8 %

NASDAQ:BDSX opened at $0.76 on Wednesday. Biodesix has a 52 week low of $0.64 and a 52 week high of $2.04. The company has a quick ratio of 3.40, a current ratio of 3.40 and a debt-to-equity ratio of 1.30. The company has a market cap of $111.47 million, a PE ratio of -1.96 and a beta of 1.10. The business’s 50 day moving average is $0.97 and its two-hundred day moving average is $1.34.

Biodesix (NASDAQ:BDSX) last announced its quarterly earnings data on Monday, March 3rd. The company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.01. Biodesix had a negative return on equity of 275.79% and a negative net margin of 66.84%. The firm had revenue of $20.43 million for the quarter, compared to analysts’ expectations of $19.92 million. On average, analysts predict that Biodesix will post -0.35 EPS for the current year.

Insider Buying and Selling at Biodesix

In other news, CEO Scott Hutton sold 83,660 shares of the stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $0.92, for a total transaction of $76,967.20. Following the completion of the transaction, the chief executive officer now directly owns 701,947 shares in the company, valued at approximately $645,791.24. This represents a 10.65 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders sold a total of 128,702 shares of company stock valued at $118,406 in the last ninety days. Insiders own 69.20% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Wilmington Savings Fund Society FSB bought a new position in Biodesix in the third quarter worth about $10,849,000. Samjo Management LLC bought a new stake in shares of Biodesix in the 4th quarter worth approximately $3,790,000. Susquehanna International Group LLP boosted its position in Biodesix by 769.8% during the 4th quarter. Susquehanna International Group LLP now owns 1,115,748 shares of the company’s stock valued at $1,707,000 after purchasing an additional 987,475 shares during the period. Silverarc Capital Management LLC increased its position in Biodesix by 21.7% in the fourth quarter. Silverarc Capital Management LLC now owns 4,332,281 shares of the company’s stock worth $6,628,000 after buying an additional 771,187 shares during the period. Finally, AIGH Capital Management LLC increased its position in Biodesix by 8.8% in the fourth quarter. AIGH Capital Management LLC now owns 6,179,812 shares of the company’s stock worth $9,455,000 after buying an additional 500,000 shares during the period. 20.96% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Biodesix Company Profile

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.