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

Key Points

• Biodesix's short interest dramatically decreased in September, falling by 90.3% to 297,500 shares, indicating a shift in investor sentiment with only 8.3% of shares currently short sold.
• Analysts have varying opinions on Biodesix stock, with a consensus rating of "Moderate Buy" and an average price target of $32.50, despite one rating being upgraded to "sell".
• Insiders have shown confidence in the company, with Director Jack W. Schuler purchasing 174,418 shares for nearly $1.5 million, reflecting a 16.68% increase in his ownership stake.

Biodesix, Inc. (NASDAQ:BDSX - Get Free Report) was the recipient of a significant drop in short interest in the month of September. As of September 15th, there was short interest totaling 297,500 shares, a drop of 90.3% from the August 31st total of 3,080,000 shares. Approximately 8.3% of the shares of the company are short sold. Based on an average daily volume of 148,500 shares, the days-to-cover ratio is currently 2.0 days. Based on an average daily volume of 148,500 shares, the days-to-cover ratio is currently 2.0 days. Approximately 8.3% of the shares of the company are short sold.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Canaccord Genuity Group set a $20.00 price objective on shares of Biodesix and gave the company a "buy" rating in a research report on Friday, September 19th. Wall Street Zen upgraded shares of Biodesix to a "sell" rating in a research report on Saturday, September 13th. Four analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $32.50.

Insiders Place Their Bets

In other Biodesix news, Director Jack W. Schuler bought 174,418 shares of the business's stock in a transaction on Friday, August 29th. The stock was purchased at an average price of $8.60 per share, for a total transaction of $1,499,994.80. Following the completion of the transaction, the director directly owned 1,220,327 shares of the company's stock, valued at $10,494,812.20. This trade represents a 16.68% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. In the last three months, insiders have bought 334,836 shares of company stock worth $2,611,362 and have sold 293 shares worth $2,461. 30.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. XTX Topco Ltd increased its stake in shares of Biodesix by 99.4% in the second quarter. XTX Topco Ltd now owns 205,647 shares of the company's stock worth $58,000 after buying an additional 102,494 shares during the period. Blair William & Co. IL boosted its holdings in shares of Biodesix by 33.3% during the 1st quarter. Blair William & Co. IL now owns 124,100 shares of the company's stock valued at $78,000 after buying an additional 31,000 shares in the last quarter. Jane Street Group LLC bought a new stake in shares of Biodesix during the 4th quarter valued at $119,000. Northern Trust Corp boosted its holdings in shares of Biodesix by 286.5% during the 4th quarter. Northern Trust Corp now owns 169,132 shares of the company's stock valued at $259,000 after buying an additional 125,368 shares in the last quarter. Finally, Millennium Management LLC boosted its holdings in shares of Biodesix by 20.2% during the 4th quarter. Millennium Management LLC now owns 198,671 shares of the company's stock valued at $304,000 after buying an additional 33,329 shares in the last quarter. 20.96% of the stock is owned by hedge funds and other institutional investors.

Biodesix Price Performance

Shares of BDSX stock traded down $0.19 during trading hours on Tuesday, hitting $7.55. 40,270 shares of the company's stock were exchanged, compared to its average volume of 207,022. The company has a market capitalization of $55.34 million, a PE ratio of -1.30 and a beta of 1.00. Biodesix has a 12-month low of $3.44 and a 12-month high of $36.00. The business's 50 day simple moving average is $8.17 and its 200-day simple moving average is $8.49. The company has a current ratio of 2.14, a quick ratio of 2.14 and a debt-to-equity ratio of 41.11.

Biodesix (NASDAQ:BDSX - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported ($1.60) EPS for the quarter, missing the consensus estimate of ($1.40) by ($0.20). The business had revenue of $20.02 million for the quarter, compared to analysts' expectations of $18.47 million. Biodesix had a negative return on equity of 269.67% and a negative net margin of 53.66%. Biodesix has set its FY 2025 guidance at EPS. On average, equities research analysts anticipate that Biodesix will post -0.35 earnings per share for the current 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.

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