Biodesix, Inc. (NASDAQ:BDSX) Sees Significant Drop in Short Interest

Biodesix, Inc. (NASDAQ:BDSX) was the target of a large decrease in short interest in the month of December. As of December 31st, there was short interest totalling 836,600 shares, a decrease of 7.4% from the December 15th total of 903,100 shares. Based on an average trading volume of 420,900 shares, the short-interest ratio is currently 2.0 days.

Biodesix Stock Performance

Shares of Biodesix stock traded up $0.01 during trading on Friday, reaching $1.15. The company’s stock had a trading volume of 195,487 shares, compared to its average volume of 222,300. Biodesix has a 52 week low of $1.09 and a 52 week high of $2.21. The firm has a market cap of $167.29 million, a PE ratio of -2.95 and a beta of 1.10. The business’s 50-day moving average price is $1.37 and its 200-day moving average price is $1.57. The company has a quick ratio of 3.40, a current ratio of 3.40 and a debt-to-equity ratio of 1.30.

Biodesix (NASDAQ:BDSX) last posted its quarterly earnings data on Friday, November 1st. The company reported ($0.07) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.07). Biodesix had a negative net margin of 66.84% and a negative return on equity of 275.79%. The firm had revenue of $18.15 million during the quarter, compared to the consensus estimate of $18.45 million. During the same quarter in the previous year, the firm posted ($0.12) EPS. Equities analysts forecast that Biodesix will post -0.35 earnings per share for the current year.

Insider Activity at Biodesix

In other news, Director Jack W. Schuler purchased 200,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The stock was acquired at an average cost of $1.17 per share, with a total value of $234,000.00. Following the acquisition, the director now owns 31,094,935 shares in the company, valued at approximately $36,381,073.95. This trade represents a 0.65 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Matthew Strobeck acquired 40,000 shares of the firm’s stock in a transaction on Tuesday, November 5th. The stock was purchased at an average cost of $1.40 per share, for a total transaction of $56,000.00. Following the completion of the acquisition, the director now owns 2,606,879 shares in the company, valued at approximately $3,649,630.60. This represents a 1.56 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders have acquired 315,000 shares of company stock worth $393,500. Company insiders own 69.20% of the company’s stock.

Institutional Investors Weigh In On Biodesix

A number of large investors have recently added to or reduced their stakes in BDSX. Barclays PLC increased its stake in Biodesix by 1,140.5% in the third quarter. Barclays PLC now owns 23,036 shares of the company’s stock valued at $41,000 after acquiring an additional 21,179 shares during the last quarter. CVI Holdings LLC bought a new position in shares of Biodesix in the 2nd quarter valued at $59,000. Landscape Capital Management L.L.C. acquired a new position in shares of Biodesix during the 3rd quarter worth $262,000. Perkins Capital Management Inc. lifted its position in shares of Biodesix by 74.7% during the 3rd quarter. Perkins Capital Management Inc. now owns 724,782 shares of the company’s stock worth $1,290,000 after buying an additional 310,000 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in Biodesix by 50.7% in the third quarter. Geode Capital Management LLC now owns 804,576 shares of the company’s stock valued at $1,433,000 after buying an additional 270,724 shares in the last quarter. Institutional investors and hedge funds own 20.96% of the company’s stock.

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.