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

Biodesix, Inc. (NASDAQ:BDSX) was the recipient of a significant decrease in short interest during the month of July. As of July 31st, there was short interest totalling 450,100 shares, a decrease of 11.2% from the July 15th total of 506,900 shares. Based on an average daily trading volume, of 144,500 shares, the days-to-cover ratio is currently 3.1 days.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on BDSX. TD Cowen began coverage on shares of Biodesix in a report on Monday, May 13th. They issued a “buy” rating and a $2.80 target price on the stock. Lake Street Capital began coverage on shares of Biodesix in a report on Friday, May 3rd. They issued a “buy” rating and a $3.00 target price on the stock. Finally, Craig Hallum began coverage on shares of Biodesix in a report on Friday, July 26th. They issued a “buy” rating and a $3.00 target price on the stock. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $3.08.

Biodesix Price Performance

BDSX remained flat at $1.74 during trading on Friday. 96,910 shares of the company’s stock traded hands, compared to its average volume of 140,273. The company has a debt-to-equity ratio of 7.69, a quick ratio of 0.91 and a current ratio of 0.91. Biodesix has a fifty-two week low of $1.15 and a fifty-two week high of $2.21. The stock has a market cap of $199.55 million, a price-to-earnings ratio of -3.16 and a beta of 1.21. The stock has a 50 day moving average price of $1.63 and a 200 day moving average price of $1.54.

Biodesix (NASDAQ:BDSX) last released its quarterly earnings results on Wednesday, August 7th. The company reported ($0.08) earnings per share for the quarter, topping the consensus estimate of ($0.09) by $0.01. The business had revenue of $17.93 million for the quarter, compared to the consensus estimate of $16.05 million. Biodesix had a negative net margin of 85.80% and a negative return on equity of 29,379.44%. During the same period last year, the firm earned ($0.17) earnings per share. Equities research analysts expect that Biodesix will post -0.36 EPS for the current fiscal year.

Institutional Trading of Biodesix

Several institutional investors and hedge funds have recently modified their holdings of the company. Perceptive Advisors LLC bought a new stake in shares of Biodesix during the 2nd quarter valued at $3,326,000. CVI Holdings LLC purchased a new position in shares of Biodesix in the 2nd quarter worth $59,000. Farallon Capital Management LLC purchased a new position in shares of Biodesix in the 2nd quarter worth $2,874,000. AIGH Capital Management LLC boosted its stake in shares of Biodesix by 74.0% during the 2nd quarter. AIGH Capital Management LLC now owns 5,779,812 shares of the company’s stock worth $8,843,000 after purchasing an additional 2,458,727 shares during the period. Finally, Opaleye Management Inc. boosted its stake in shares of Biodesix by 7.7% during the 1st quarter. Opaleye Management Inc. now owns 534,657 shares of the company’s stock worth $765,000 after purchasing an additional 38,157 shares during the period. 20.96% of the stock is currently owned by institutional investors.

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.