Biodesix, Inc. (NASDAQ:BDSX) Short Interest Down 34.5% in May

Biodesix, Inc. (NASDAQ:BDSX) saw a large drop in short interest in the month of May. As of May 31st, there was short interest totalling 226,700 shares, a drop of 34.5% from the May 15th total of 346,300 shares. Based on an average daily volume of 141,000 shares, the days-to-cover ratio is presently 1.6 days.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Canaccord Genuity Group reiterated a “buy” rating and issued a $3.50 target price on shares of Biodesix in a research report on Monday, March 4th. TD Cowen assumed coverage on shares of Biodesix in a research report on Monday, May 13th. They issued a “buy” rating and a $2.80 target price on the stock. Finally, Lake Street Capital assumed coverage on shares of Biodesix in a research report on Friday, May 3rd. They issued a “buy” rating and a $3.00 target price on the stock. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $3.10.

Biodesix Trading Up 1.3 %

Shares of BDSX stock traded up $0.02 during mid-day trading on Friday, reaching $1.60. The stock had a trading volume of 294,913 shares, compared to its average volume of 103,609. The stock’s 50-day moving average price is $1.39 and its two-hundred day moving average price is $1.58. Biodesix has a 52-week low of $1.03 and a 52-week high of $2.21. The firm has a market capitalization of $183.50 million, a PE ratio of -2.91 and a beta of 1.20. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 7.69.

Biodesix (NASDAQ:BDSX) last released its quarterly earnings data on Wednesday, May 8th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.01. Biodesix had a negative net margin of 85.80% and a negative return on equity of 29,379.44%. The firm had revenue of $14.82 million for the quarter, compared to analysts’ expectations of $14.00 million. Equities analysts expect that Biodesix will post -0.36 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Biodesix

Several hedge funds and other institutional investors have recently modified their holdings of BDSX. Oracle Investment Management Inc. purchased a new position in shares of Biodesix during the third quarter valued at about $69,000. Opaleye Management Inc. increased its position in shares of Biodesix by 9.0% during the fourth quarter. Opaleye Management Inc. now owns 496,500 shares of the company’s stock valued at $914,000 after buying an additional 40,927 shares during the period. Finally, Essex Investment Management Co. LLC increased its position in shares of Biodesix by 1.4% during the first quarter. Essex Investment Management Co. LLC now owns 925,614 shares of the company’s stock valued at $1,324,000 after buying an additional 12,669 shares during the period. Hedge funds and other institutional investors own 20.96% of the company’s stock.

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.