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

Biodesix, Inc. (NASDAQ:BDSX) was the recipient of a large growth in short interest during 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. Approximately 2.2% of the company’s shares are short sold. Based on an average daily volume of 428,500 shares, the short-interest ratio is currently 2.3 days.

Insider Buying and Selling

In related news, CEO Scott Hutton sold 83,660 shares of the company’s stock in a transaction 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 completion of the sale, the chief executive officer now owns 701,947 shares in the company, valued at $645,791.24. This represents a 10.65 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders sold 128,702 shares of company stock worth $118,406 in the last quarter. Insiders own 69.20% of the company’s stock.

Institutional Investors Weigh In On Biodesix

Hedge funds have recently bought and sold shares of the company. Balyasny Asset Management L.P. acquired a new stake in Biodesix in the 4th quarter valued at about $29,000. Barclays PLC lifted its stake in Biodesix by 1,140.5% in the 3rd quarter. Barclays PLC now owns 23,036 shares of the company’s stock valued at $41,000 after purchasing an additional 21,179 shares during the last quarter. Boothbay Fund Management LLC acquired a new stake in Biodesix in the 4th quarter valued at about $52,000. MYDA Advisors LLC bought a new position in Biodesix in the 4th quarter valued at about $76,000. Finally, Cubist Systematic Strategies LLC raised its holdings in 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 acquiring an additional 40,524 shares during the period. 20.96% of the stock is currently owned by institutional investors and hedge funds.

Biodesix Trading Up 3.8 %

Biodesix stock opened at $0.75 on Tuesday. The firm has a 50-day moving average of $0.98 and a 200-day moving average of $1.35. Biodesix has a one year low of $0.64 and a one year high of $2.04. The company has a debt-to-equity ratio of 1.30, a current ratio of 3.40 and a quick ratio of 3.40. The company has a market cap of $109.47 million, a price-to-earnings ratio of -1.92 and a beta of 1.10.

Biodesix (NASDAQ:BDSX) last issued its earnings results on Monday, March 3rd. The company reported ($0.06) earnings per share (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 business had revenue of $20.43 million during the quarter, compared to the consensus estimate of $19.92 million. On average, equities analysts expect that Biodesix will post -0.35 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, William Blair reaffirmed an “outperform” rating on shares of Biodesix in a research note on Tuesday, March 4th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company 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.