Biodesix, Inc. (NASDAQ:BDSX) Short Interest Up 29.5% in March

Biodesix, Inc. (NASDAQ:BDSX) was the target of a significant growth in short interest in the month of March. As of March 15th, there was short interest totalling 1,260,000 shares, a growth of 29.5% from the February 28th total of 973,200 shares. Currently, 2.8% of the company’s shares are sold short. Based on an average trading volume of 417,700 shares, the days-to-cover ratio is presently 3.0 days.

Analysts Set New Price Targets

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

Biodesix Trading Down 0.7 %

NASDAQ BDSX opened at $0.67 on Monday. Biodesix has a 12 month low of $0.64 and a 12 month high of $2.04. The company has a current ratio of 3.40, a quick ratio of 3.40 and a debt-to-equity ratio of 1.30. The firm has a market capitalization of $97.08 million, a PE ratio of -1.72 and a beta of 1.10. The business’s 50-day moving average price is $0.89 and its two-hundred day moving average price is $1.28.

Biodesix (NASDAQ:BDSX) last issued its quarterly earnings results on Monday, March 3rd. The company reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $19.92 million. On average, analysts expect that Biodesix will post -0.35 EPS for the current year.

Insider Activity

In other Biodesix news, CEO Scott Hutton sold 83,660 shares of Biodesix stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $0.92, for a total value of $76,967.20. Following the transaction, the chief executive officer now owns 701,947 shares of the company’s stock, valued at approximately $645,791.24. The trade was a 10.65 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders have sold 128,702 shares of company stock valued at $118,406 over the last 90 days. 69.20% of the stock is owned by company insiders.

Institutional Trading of Biodesix

Large investors have recently bought and sold shares of the business. Balyasny Asset Management L.P. bought a new stake in Biodesix in the fourth quarter worth approximately $29,000. Barclays PLC lifted its position in shares of Biodesix by 1,140.5% during the 3rd 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 period. Boothbay Fund Management LLC acquired a new stake in Biodesix in the fourth quarter worth $52,000. MYDA Advisors LLC bought a new position in shares of Biodesix during the 4th quarter worth about $76,000. Finally, Cubist Systematic Strategies LLC grew its stake in shares of Biodesix by 385.9% in the 4th quarter. Cubist Systematic Strategies LLC now owns 51,024 shares of the company’s stock valued at $78,000 after buying an additional 40,524 shares during the period. 20.96% of the stock is currently owned by institutional investors and hedge funds.

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.