MDxHealth SA (NASDAQ:MDXH) Short Interest Down 73.9% in April

Key Points

• Short interest down 73.9% in April to 19,213 shares (reported as 0.0% of shares sold short) with a days-to-cover ratio of just 0.1, signaling a large reduction in bearish positioning.
• Institutional buying—Perkins Capital now holds 1,476,441 shares and funds including Millennium, XTX, Balyasny and 683 Capital materially increased or opened positions, indicating renewed institutional interest.
• MDxHealth trades around $2.08 with a market cap of about $103M after reporting Q4 EPS of -$0.17 (miss) despite a revenue beat, and analysts have an average rating of "Moderate Buy" with a $7.75 average price target.

MDxHealth SA (NASDAQ:MDXH - Get Free Report) saw a large decrease in short interest during the month of April. As of April 15th, there was short interest totaling 19,213 shares, a decrease of 73.9% from the March 31st total of 73,632 shares. Currently, 0.0% of the company's shares are sold short. Based on an average trading volume of 262,452 shares, the days-to-cover ratio is currently 0.1 days.

Institutional Investors Weigh In On MDxHealth

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Perkins Capital Management Inc. raised its position in MDxHealth by 7.1% during the 1st quarter. Perkins Capital Management Inc. now owns 1,476,441 shares of the company's stock valued at $3,396,000 after purchasing an additional 97,500 shares in the last quarter. XTX Topco Ltd raised its position in MDxHealth by 220.0% during the 4th quarter. XTX Topco Ltd now owns 40,860 shares of the company's stock valued at $146,000 after purchasing an additional 28,090 shares in the last quarter. Millennium Management LLC raised its position in MDxHealth by 328.3% during the 4th quarter. Millennium Management LLC now owns 116,831 shares of the company's stock valued at $417,000 after purchasing an additional 89,553 shares in the last quarter. Balyasny Asset Management L.P. bought a new position in shares of MDxHealth in the 4th quarter worth $68,000. Finally, 683 Capital Management LLC bought a new position in shares of MDxHealth in the 4th quarter worth $384,000.

MDxHealth Stock Performance

MDxHealth stock traded down $0.09 during mid-day trading on Friday, hitting $2.08. The company's stock had a trading volume of 105,362 shares, compared to its average volume of 203,563. The company has a 50 day moving average of $2.86 and a 200-day moving average of $3.46. The stock has a market cap of $102.95 million, a PE ratio of -3.10 and a beta of 1.73. MDxHealth has a one year low of $1.67 and a one year high of $5.33.

MDxHealth (NASDAQ:MDXH - Get Free Report) last issued its earnings results on Friday, February 27th. The company reported ($0.17) earnings per share for the quarter, missing analysts' consensus estimates of ($0.13) by ($0.04). The firm had revenue of $29.55 million for the quarter, compared to the consensus estimate of $26.05 million. MDxHealth had a negative net margin of 31.07% and a negative return on equity of 1,078.01%. On average, equities research analysts forecast that MDxHealth will post -0.41 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of MDxHealth in a research report on Friday, March 27th. Four investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $7.75.

MDxHealth Company Profile

MDxHealth, headquartered in Mechelen, Belgium, with a U.S. presence in Newton, Massachusetts, is a molecular diagnostics company focused on improving the accuracy of cancer diagnosis and treatment decision making through epigenetic biomarker assays. The company specializes in developing and commercializing tests that detect DNA methylation changes associated with urological cancers, enabling more precise risk stratification and patient management.

MDxHealth's lead product portfolio includes ConfirmMDx and SelectMDx.

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