Biodesix, Inc. (NASDAQ:BDSX) Short Interest Down 6.4% in November

Biodesix, Inc. (NASDAQ:BDSX) was the recipient of a large decline in short interest during the month of November. As of November 15th, there was short interest totalling 388,900 shares, a decline of 6.4% from the October 31st total of 415,700 shares. Based on an average daily volume of 387,700 shares, the days-to-cover ratio is currently 1.0 days.

Wall Street Analysts Forecast Growth

Separately, Scotiabank started coverage on Biodesix in a report on Monday, September 16th. They set a “sector outperform” rating and a $3.00 price target for the company. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, Biodesix has an average rating of “Buy” and a consensus price target of $3.06.

Biodesix Stock Up 0.7 %

Shares of Biodesix stock traded up $0.01 on Tuesday, hitting $1.37. The stock had a trading volume of 81,042 shares, compared to its average volume of 208,823. The stock has a 50 day moving average of $1.53 and a 200 day moving average of $1.60. Biodesix has a twelve month low of $1.11 and a twelve month high of $2.21. The company has a debt-to-equity ratio of 1.30, a quick ratio of 3.40 and a current ratio of 3.40.

Biodesix (NASDAQ:BDSX) last announced its quarterly earnings results on Friday, November 1st. The company reported ($0.07) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.07). The firm had revenue of $18.15 million during the quarter, compared to analysts’ expectations of $18.45 million. Biodesix had a negative net margin of 66.84% and a negative return on equity of 275.79%. During the same period in the prior year, the company posted ($0.12) EPS. As a group, equities research analysts forecast that Biodesix will post -0.35 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Jack W. Schuler acquired 200,000 shares of the stock in a transaction dated Wednesday, November 20th. The shares were bought at an average cost of $1.17 per share, for a total transaction of $234,000.00. Following the purchase, the director now directly owns 31,094,935 shares of the company’s stock, valued at approximately $36,381,073.95. This trade represents a 0.65 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Matthew Strobeck bought 40,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The stock was purchased at an average price of $1.40 per share, with a total value of $56,000.00. Following the completion of the purchase, the director now directly owns 2,606,879 shares in the company, valued at $3,649,630.60. The trade was a 1.56 % increase in their position. The disclosure for this purchase can be found here. Insiders have purchased 315,000 shares of company stock valued at $393,500 in the last 90 days. 69.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Barclays PLC raised its position in shares of Biodesix by 1,140.5% during the third quarter. Barclays PLC now owns 23,036 shares of the company’s stock worth $41,000 after acquiring an additional 21,179 shares during the last quarter. CVI Holdings LLC bought a new stake in shares of Biodesix in the 2nd quarter valued at $59,000. Landscape Capital Management L.L.C. acquired a new stake in shares of Biodesix during the third quarter worth $262,000. Perkins Capital Management Inc. lifted its holdings in Biodesix by 74.7% in the third quarter. Perkins Capital Management Inc. now owns 724,782 shares of the company’s stock valued at $1,290,000 after buying an additional 310,000 shares during the period. Finally, Geode Capital Management LLC grew its holdings in Biodesix by 50.7% during the 3rd quarter. Geode Capital Management LLC now owns 804,576 shares of the company’s stock worth $1,433,000 after acquiring an additional 270,724 shares during the period. 20.96% of the stock is owned by institutional investors and hedge funds.

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.