Biodesix, Inc. (NASDAQ:BDSX) Sees Large Increase in Short Interest

Biodesix, Inc. (NASDAQ:BDSX - Get Free Report) was the recipient of a significant increase in short interest in March. As of March 31st, there was short interest totalling 277,400 shares, an increase of 53.2% from the March 15th total of 181,100 shares. Based on an average daily trading volume, of 163,400 shares, the days-to-cover ratio is presently 1.7 days. Approximately 1.1% of the company's shares are short sold.

Insider Buying and Selling

In other news, CEO Scott Hutton sold 29,708 shares of the firm's stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $1.66, for a total transaction of $49,315.28. Following the completion of the sale, the chief executive officer now owns 465,011 shares in the company, valued at approximately $771,918.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last 90 days, insiders have sold 96,128 shares of company stock worth $173,035. 63.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Biodesix

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. acquired a new stake in Biodesix during the 1st quarter worth $38,000. CI Private Wealth LLC acquired a new stake in shares of Biodesix in the 4th quarter valued at about $57,000. Tower Research Capital LLC TRC purchased a new position in Biodesix during the 3rd quarter worth approximately $52,000. HRT Financial LP acquired a new position in Biodesix during the first quarter worth approximately $61,000. Finally, Susquehanna International Group LLP purchased a new stake in Biodesix in the first quarter valued at approximately $68,000. 20.96% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Canaccord Genuity Group reaffirmed a "buy" rating and issued a $3.50 target price on shares of Biodesix in a research report on Monday, March 4th.

Biodesix Stock Down 0.8 %

Biodesix stock traded down $0.01 during mid-day trading on Friday, reaching $1.23. 11,134 shares of the company's stock were exchanged, compared to its average volume of 159,604. Biodesix has a twelve month low of $1.03 and a twelve month high of $2.21. The company has a fifty day moving average of $1.52 and a 200-day moving average of $1.62. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 7.69. The company has a market cap of $119.24 million, a P/E ratio of -1.89 and a beta of 1.13.

Biodesix (NASDAQ:BDSX - Get Free Report) last posted its quarterly earnings results on Friday, March 1st. The company reported ($0.10) EPS for the quarter, topping the consensus estimate of ($0.11) by $0.01. The company had revenue of $14.67 million during the quarter, compared to analysts' expectations of $15.76 million. Biodesix had a negative net margin of 106.23% and a negative return on equity of 29,379.44%. Sell-side analysts expect that Biodesix will post -0.44 EPS for the current year.

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.