Biodesix, Inc. (NASDAQ:BDSX) Short Interest Update

Biodesix, Inc. (NASDAQ:BDSX) was the target of a large growth in short interest in March. As of March 15th, there was short interest totalling 1,260,000 shares, a growth of 29.5% from the February 28th total of 973,200 shares. Based on an average daily volume of 417,700 shares, the days-to-cover ratio is currently 3.0 days. Approximately 2.8% of the company’s stock are short sold.

Insider Buying and Selling at Biodesix

In other news, CEO Scott Hutton sold 83,660 shares of Biodesix stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $0.92, for a total transaction of $76,967.20. Following the completion of the transaction, the chief executive officer now directly owns 701,947 shares in the company, valued at $645,791.24. This trade represents a 10.65 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last 90 days, insiders sold 128,702 shares of company stock worth $118,406. 69.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Biodesix

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Balyasny Asset Management L.P. purchased a new stake in shares of Biodesix during the fourth quarter valued at approximately $29,000. Barclays PLC grew 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 period. Boothbay Fund Management LLC purchased a new stake in shares of Biodesix during the 4th quarter valued at $52,000. MYDA Advisors LLC bought a new stake in shares of Biodesix during the 4th quarter worth $76,000. Finally, Cubist Systematic Strategies LLC boosted its holdings in shares of Biodesix by 385.9% in the 4th quarter. Cubist Systematic Strategies LLC now owns 51,024 shares of the company’s stock worth $78,000 after buying an additional 40,524 shares during the last quarter. Hedge funds and other institutional investors own 20.96% of the company’s stock.

Biodesix Price Performance

BDSX opened at $0.63 on Tuesday. Biodesix has a 1 year low of $0.63 and a 1 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 capitalization of $91.27 million, a price-to-earnings ratio of -1.60 and a beta of 1.10. The firm’s fifty day moving average price is $0.88 and its two-hundred day moving average price is $1.27.

Biodesix (NASDAQ:BDSX) last released its quarterly earnings results on Monday, March 3rd. The company reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates 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 company had revenue of $20.43 million for the quarter, compared to analyst estimates of $19.92 million. As a group, analysts anticipate 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 report on Tuesday, March 4th. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $2.95.

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.