Biodesix, Inc. (NASDAQ:BDSX) Short Interest Down 6.4% in November

Biodesix, Inc. (NASDAQ:BDSX) was the recipient of a significant drop in short interest during the month of November. As of November 15th, there was short interest totalling 388,900 shares, a drop of 6.4% from the October 31st total of 415,700 shares. Based on an average trading volume of 387,700 shares, the days-to-cover ratio is currently 1.0 days.

Analysts Set New Price Targets

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

Biodesix Stock Performance

BDSX stock traded up $0.01 during mid-day trading on Tuesday, hitting $1.37. 81,042 shares of the company were exchanged, compared to its average volume of 208,823. Biodesix has a 1-year low of $1.11 and a 1-year high of $2.21. The company has a debt-to-equity ratio of 1.30, a quick ratio of 3.40 and a current ratio of 3.40. The firm’s 50 day simple moving average is $1.53 and its 200 day simple moving average is $1.60.

Biodesix (NASDAQ:BDSX) last posted its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $18.45 million. During the same period in the previous year, the firm posted ($0.12) EPS. On average, equities analysts forecast that Biodesix will post -0.35 EPS for the current year.

Insider Buying and Selling at Biodesix

In other news, Director Jack W. Schuler purchased 200,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The shares were acquired at an average cost of $1.17 per share, for a total transaction of $234,000.00. Following the transaction, the director now directly owns 31,094,935 shares of the company’s stock, valued at approximately $36,381,073.95. The trade was a 0.65 % increase in their position. 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 firm’s stock in a transaction that occurred on Tuesday, November 5th. The shares were purchased at an average price of $1.38 per share, with a total value of $103,500.00. Following the acquisition, the chairman now owns 2,153,298 shares of the company’s stock, valued at approximately $2,971,551.24. This trade represents a 3.61 % increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 315,000 shares of company stock valued at $393,500. 69.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of BDSX. AIGH Capital Management LLC grew its stake in shares of Biodesix by 74.0% during the 2nd quarter. AIGH Capital Management LLC now owns 5,779,812 shares of the company’s stock worth $8,843,000 after acquiring an additional 2,458,727 shares in the last quarter. Farallon Capital Management LLC acquired a new position in Biodesix during the second quarter worth $2,874,000. CVI Holdings LLC bought a new position in Biodesix in the second quarter valued at $59,000. Perceptive Advisors LLC acquired a new stake in Biodesix in the 2nd quarter valued at $3,326,000. Finally, Perkins Capital Management Inc. lifted its position in 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 in the last quarter. 20.96% of the stock is currently owned by institutional investors.

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.