Short Interest in Biodesix, Inc. (NASDAQ:BDSX) Expands By 60.5%

Biodesix, Inc. (NASDAQ:BDSX) saw a significant increase in short interest during the month of November. As of November 30th, there was short interest totalling 624,200 shares, an increase of 60.5% from the November 15th total of 388,900 shares. Based on an average daily trading volume, of 408,100 shares, the days-to-cover ratio is presently 1.5 days.

Insider Transactions at Biodesix

In other Biodesix news, Director Jack W. Schuler purchased 200,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The stock was purchased at an average cost of $1.17 per share, with a total value of $234,000.00. Following the acquisition, the director now directly 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 acquisition was disclosed in a filing with the SEC, which is available through this link. Also, Chairman John Patience acquired 75,000 shares of the firm’s stock in a transaction on Tuesday, November 5th. The shares were bought at an average cost of $1.38 per share, for a total transaction of $103,500.00. Following the acquisition, the chairman now owns 2,153,298 shares in the company, valued at approximately $2,971,551.24. The trade was a 3.61 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired a total of 315,000 shares of company stock worth $393,500 over the last three months. 69.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Barclays PLC increased its holdings in Biodesix by 1,140.5% during the 3rd quarter. Barclays PLC now owns 23,036 shares of the company’s stock worth $41,000 after purchasing an additional 21,179 shares in the last quarter. CVI Holdings LLC bought a new position in shares of Biodesix during the second quarter worth about $59,000. Landscape Capital Management L.L.C. acquired a new stake in Biodesix in the 3rd quarter valued at approximately $262,000. Geode Capital Management LLC lifted its stake in Biodesix by 50.7% in the 3rd quarter. Geode Capital Management LLC now owns 804,576 shares of the company’s stock valued at $1,433,000 after acquiring an additional 270,724 shares in the last quarter. Finally, Perkins Capital Management Inc. boosted 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 acquiring an additional 310,000 shares during the last quarter. 20.96% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, Scotiabank began coverage on shares of Biodesix in a research note on Monday, September 16th. They issued a “sector outperform” rating and a $3.00 target price on the stock. Five equities 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.

Biodesix Trading Up 3.9 %

Shares of Biodesix stock traded up $0.05 during trading on Friday, hitting $1.34. 223,491 shares of the company were exchanged, compared to its average volume of 211,898. The firm has a market capitalization of $194.93 million, a P/E ratio of -3.44 and a beta of 1.14. The firm’s fifty day moving average price is $1.46 and its 200 day moving average price is $1.59. The company has a debt-to-equity ratio of 1.30, a current ratio of 3.40 and a quick ratio of 3.40. Biodesix has a 1-year low of $1.11 and a 1-year high of $2.21.

Biodesix (NASDAQ:BDSX) last issued its earnings results on Friday, November 1st. The company reported ($0.07) EPS for the quarter, meeting the consensus estimate of ($0.07). The firm had revenue of $18.15 million during the quarter, compared to the consensus estimate of $18.45 million. Biodesix had a negative net margin of 66.84% and a negative return on equity of 275.79%. During the same quarter in the prior year, the firm earned ($0.12) earnings per share. As a group, sell-side analysts expect that Biodesix will post -0.35 earnings per share for the current fiscal year.

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.