Biodesix, Inc. (NASDAQ:BDSX) Short Interest Up 44.7% in December

Biodesix, Inc. (NASDAQ:BDSX) was the recipient of a significant 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 days-to-cover ratio is presently 2.3 days.

Biodesix Stock Down 1.0 %

Shares of NASDAQ:BDSX traded down $0.02 during midday trading on Monday, hitting $1.47. 47,222 shares of the company’s stock traded hands, compared to its average volume of 212,444. The firm’s fifty day moving average price is $1.41 and its two-hundred day moving average price is $1.60. The company has a debt-to-equity ratio of 1.30, a quick ratio of 3.40 and a current ratio of 3.40. Biodesix has a twelve month low of $1.11 and a twelve month high of $2.21. The company has a market cap of $213.11 million, a PE ratio of -3.76 and a beta of 1.14.

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

Insider Buying and Selling

In related news, Director Matthew Strobeck purchased 40,000 shares of the firm’s stock in a transaction on Tuesday, November 5th. The shares were bought at an average price of $1.40 per share, for a total transaction of $56,000.00. Following the acquisition, the director now directly owns 2,606,879 shares in the company, valued at $3,649,630.60. This trade represents a 1.56 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, Chairman John Patience acquired 75,000 shares of the stock in a transaction dated Tuesday, November 5th. The shares were bought at an average cost of $1.38 per share, with a total value of $103,500.00. Following the completion of the purchase, the chairman now directly owns 2,153,298 shares in the company, valued at approximately $2,971,551.24. This trade represents a 3.61 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 315,000 shares of company stock worth $393,500. 69.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Biodesix

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Wilmington Savings Fund Society FSB purchased a new stake in shares of Biodesix during the third quarter valued at approximately $10,849,000. AIGH Capital Management LLC grew its holdings in Biodesix by 74.0% during the 2nd quarter. AIGH Capital Management LLC now owns 5,779,812 shares of the company’s stock valued at $8,843,000 after purchasing an additional 2,458,727 shares in the last quarter. Perceptive Advisors LLC purchased a new stake in Biodesix during the 2nd quarter worth $3,326,000. Farallon Capital Management LLC acquired a new position in Biodesix in the 2nd quarter worth $2,874,000. Finally, Perkins Capital Management Inc. lifted its holdings in Biodesix by 74.7% in 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 in the last quarter. 20.96% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

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.