Short Interest in MDxHealth SA (NASDAQ:MDXH) Increases By 88.5%

Key Points

• Short interest surged 88.5% to 73,632 shares as of March 31, equal to about 0.2% of shares outstanding and a days-to-cover ratio of 0.3 based on average daily volume.
• Analysts hold a consensus Moderate Buy with an average target of $7.75 (four Buys, one Sell), despite mixed recent results and forecasts.
• Several institutions recently initiated or added positions (notably Kennedy Capital ~$1.83M, Russell Investments ~$461K, Calamos ~$305K); MDxHealth trades around $2.04 with a market cap near $101M and reported negative earnings per share.

MDxHealth SA (NASDAQ:MDXH - Get Free Report) was the target of a large growth in short interest during the month of March. As of March 31st, there was short interest totaling 73,632 shares, a growth of 88.5% from the March 15th total of 39,057 shares. Based on an average daily volume of 214,324 shares, the days-to-cover ratio is currently 0.3 days. Approximately 0.2% of the shares of the company are sold short.

Institutional Investors Weigh In On MDxHealth

A number of hedge funds and other institutional investors have recently modified their holdings of MDXH. Calamos Advisors LLC acquired a new stake in shares of MDxHealth during the third quarter worth $305,000. GSA Capital Partners LLP acquired a new position in MDxHealth in the third quarter valued at about $48,000. Jefferies Financial Group Inc. acquired a new position in MDxHealth in the third quarter valued at about $53,000. Russell Investments Group Ltd. acquired a new position in MDxHealth in the third quarter valued at about $461,000. Finally, Kennedy Capital Management LLC acquired a new position in MDxHealth in the third quarter valued at about $1,826,000.

Analysts Set New Price Targets

MDXH has been the subject of several research reports. BTIG Research reaffirmed a "buy" rating and set a $7.00 price target on shares of MDxHealth in a report on Tuesday, December 23rd. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of MDxHealth in a report on Friday, March 27th. Four research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $7.75.

MDxHealth Stock Performance

MDXH opened at $2.04 on Monday. MDxHealth has a fifty-two week low of $1.47 and a fifty-two week high of $5.33. The company has a market capitalization of $100.97 million, a P/E ratio of -3.04 and a beta of 1.73. The stock has a fifty day moving average of $3.12 and a 200-day moving average of $3.61.

MDxHealth (NASDAQ:MDXH - Get Free Report) last posted 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). MDxHealth had a negative return on equity of 1,078.01% and a negative net margin of 31.07%.The firm had revenue of $29.55 million for the quarter, compared to analyst estimates of $26.05 million. On average, equities research analysts predict that MDxHealth will post -1.15 earnings per share for the current fiscal year.

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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