Short Interest in Biodesix, Inc. (NASDAQ:BDSX) Expands By 44.7%

Biodesix, Inc. (NASDAQ:BDSX) saw a large growth in short interest in the month of December. As of December 15th, there was short interest totalling 903,100 shares, a growth of 44.7% from the November 30th total of 624,200 shares. Based on an average daily trading volume, of 395,100 shares, the short-interest ratio is presently 2.3 days.

Analyst Upgrades and Downgrades

Separately, Scotiabank assumed coverage on shares of Biodesix in a research report on Monday, September 16th. They set a “sector outperform” rating and a $3.00 target price on the stock. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $3.06.

Insider Buying and Selling

In other news, Chairman John Patience purchased 75,000 shares of the company’s stock in a transaction dated Tuesday, November 5th. The shares were acquired at an average price of $1.38 per share, with a total value of $103,500.00. Following the transaction, the chairman now owns 2,153,298 shares of the company’s stock, valued at $2,971,551.24. This represents a 3.61 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jack W. Schuler purchased 200,000 shares of the business’s stock in a transaction dated Wednesday, November 20th. The shares were purchased at an average price of $1.17 per share, for a total transaction of $234,000.00. Following the purchase, the director now owns 31,094,935 shares of the company’s stock, valued at approximately $36,381,073.95. This trade represents a 0.65 % increase in their position. The disclosure for this purchase can be found here. Insiders have purchased 315,000 shares of company stock valued at $393,500 in the last 90 days. Company insiders own 69.20% of the company’s stock.

Institutional Investors Weigh In On Biodesix

Several institutional investors have recently bought and sold shares of the company. Wilmington Savings Fund Society FSB purchased a new stake in shares of Biodesix during the 3rd quarter valued at $10,849,000. Barclays PLC increased its position in 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 buying an additional 21,179 shares in the last quarter. Geode Capital Management LLC raised 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 during the last quarter. Landscape Capital Management L.L.C. acquired a new stake in Biodesix in the third quarter worth about $262,000. Finally, Perkins Capital Management Inc. boosted its holdings in Biodesix by 74.7% in the third quarter. Perkins Capital Management Inc. now owns 724,782 shares of the company’s stock worth $1,290,000 after acquiring an additional 310,000 shares in the last quarter. 20.96% of the stock is currently owned by institutional investors and hedge funds.

Biodesix Stock Up 1.4 %

Shares of NASDAQ BDSX traded up $0.02 during mid-day trading on Friday, reaching $1.48. 251,805 shares of the company were exchanged, compared to its average volume of 213,132. Biodesix has a 1 year low of $1.11 and a 1 year high of $2.21. The firm has a 50-day moving average of $1.41 and a 200 day moving average of $1.60. The stock has a market cap of $215.29 million, a price-to-earnings ratio of -3.79 and a beta of 1.15. 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 released its quarterly earnings results on Friday, November 1st. The company reported ($0.07) EPS for the quarter, meeting the consensus estimate of ($0.07). Biodesix had a negative net margin of 66.84% and a negative return on equity of 275.79%. The business had revenue of $18.15 million during the quarter, compared to analyst estimates of $18.45 million. During the same period in the prior year, the firm posted ($0.12) earnings per share. On average, research analysts expect that Biodesix will post -0.35 earnings per share 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.