Short Interest in Biodesix, Inc. (NASDAQ:BDSX) Rises By 24.6%

Biodesix, Inc. (NASDAQ:BDSX) was the recipient of a significant 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 trading volume, of 428,500 shares, the days-to-cover ratio is presently 2.3 days. Currently, 2.2% of the company’s shares are short sold.

Wall Street Analysts Forecast Growth

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

Biodesix Stock Performance

Biodesix stock opened at $0.76 on Wednesday. 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 12 month low of $0.64 and a 12 month high of $2.04. The company has a market cap of $111.47 million, a price-to-earnings ratio of -1.96 and a beta of 1.10. The stock’s 50-day moving average is $0.97 and its 200-day moving average is $1.34.

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

Insider Buying and Selling

In other news, CEO Scott Hutton sold 83,660 shares of the company’s stock in a transaction dated Tuesday, February 11th. The shares were 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 owns 701,947 shares of the company’s stock, valued at $645,791.24. This represents a 10.65 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Over the last ninety days, insiders have sold 128,702 shares of company stock worth $118,406. 69.20% of the stock is owned by company insiders.

Institutional Trading of Biodesix

Institutional investors have recently added to or reduced their stakes in the business. Balyasny Asset Management L.P. acquired a new position in shares of Biodesix during the fourth quarter worth about $29,000. Barclays PLC lifted its position in Biodesix by 1,140.5% during the 3rd 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 4th quarter worth approximately $52,000. MYDA Advisors LLC acquired a new stake in Biodesix in the fourth quarter valued at approximately $76,000. Finally, Cubist Systematic Strategies LLC raised its stake in shares of Biodesix by 385.9% during the fourth quarter. Cubist Systematic Strategies LLC now owns 51,024 shares of the company’s stock valued at $78,000 after purchasing an additional 40,524 shares during the period. 20.96% of the stock is owned by hedge funds and other 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.