Biodesix, Inc. (NASDAQ:BDSX) Short Interest Down 7.6% in July

Biodesix, Inc. (NASDAQ:BDSX) was the recipient of a significant decline in short interest in the month of July. As of July 15th, there was short interest totalling 506,900 shares, a decline of 7.6% from the June 30th total of 548,800 shares. Based on an average daily volume of 148,800 shares, the short-interest ratio is currently 3.4 days.

Institutional Investors Weigh In On Biodesix

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Oracle Investment Management Inc. raised its holdings in shares of Biodesix by 44.8% in the fourth quarter. Oracle Investment Management Inc. now owns 60,939 shares of the company’s stock worth $112,000 after buying an additional 18,863 shares during the last quarter. Opaleye Management Inc. increased its position in shares of Biodesix by 7.7% in the 1st quarter. Opaleye Management Inc. now owns 534,657 shares of the company’s stock valued at $765,000 after acquiring an additional 38,157 shares during the period. Finally, Essex Investment Management Co. LLC increased its position in shares of Biodesix by 1.4% in the 1st quarter. Essex Investment Management Co. LLC now owns 925,614 shares of the company’s stock valued at $1,324,000 after acquiring an additional 12,669 shares during the period. 20.96% of the stock is currently owned by hedge funds and other institutional investors.

Biodesix Trading Down 2.1 %

Shares of NASDAQ:BDSX traded down $0.04 during trading on Thursday, reaching $1.61. The stock had a trading volume of 29,507 shares, compared to its average volume of 145,891. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 7.69. The firm’s 50-day simple moving average is $1.57 and its 200 day simple moving average is $1.56. Biodesix has a one year low of $1.15 and a one year high of $2.21.

Biodesix (NASDAQ:BDSX) last announced its earnings results on Wednesday, May 8th. The company reported ($0.14) earnings per share for the quarter, beating the consensus estimate 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 company had revenue of $14.82 million during the quarter, compared to the consensus estimate of $14.00 million. As a group, equities research analysts expect that Biodesix will post -0.36 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have commented on BDSX. TD Cowen started coverage on Biodesix in a report on Monday, May 13th. They set a “buy” rating and a $2.80 price objective on the stock. Craig Hallum started coverage on shares of Biodesix in a research report on Friday, July 26th. They set a “buy” rating and a $3.00 target price on the stock. Finally, Lake Street Capital began coverage on shares of Biodesix in a research note on Friday, May 3rd. They set a “buy” rating and a $3.00 price objective on the stock. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $3.08.

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.