Biodesix, Inc. (NASDAQ:BDSX) Short Interest Up 29.5% in March

Biodesix, Inc. (NASDAQ:BDSX - Get Free Report) was the recipient of a large increase in short interest in the month of March. As of March 15th, there was short interest totalling 1,260,000 shares, an increase of 29.5% from the February 28th total of 973,200 shares. Approximately 2.8% of the shares of the stock are short sold. Based on an average daily trading volume, of 417,700 shares, the short-interest ratio is currently 3.0 days.

Biodesix Trading Down 2.0 %

BDSX stock traded down $0.01 during mid-day trading on Friday, reaching $0.58. 278,656 shares of the stock traded hands, compared to its average volume of 297,113. The stock's fifty day moving average is $0.86 and its 200-day moving average is $1.25. The company has a market cap of $85.11 million, a P/E ratio of -1.51 and a beta of 1.17. The company has a current ratio of 3.40, a quick ratio of 3.40 and a debt-to-equity ratio of 1.30. Biodesix has a 52-week low of $0.55 and a 52-week high of $2.04.

Biodesix (NASDAQ:BDSX - Get Free Report) last posted its quarterly earnings data on Monday, March 3rd. The company reported ($0.06) EPS for the quarter, topping analysts' consensus estimates of ($0.07) by $0.01. The firm had revenue of $20.43 million during the quarter, compared to analyst estimates of $19.92 million. Biodesix had a negative net margin of 66.84% and a negative return on equity of 275.79%. As a group, sell-side analysts expect that Biodesix will post -0.35 earnings per share for the current year.

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Analysts Set New Price Targets

Separately, William Blair restated an "outperform" rating on shares of Biodesix in a report on Tuesday, March 4th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $2.95.

Insider Buying and Selling at Biodesix

In related news, CEO Scott Hutton sold 83,660 shares of the business's stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $0.92, for a total transaction of $76,967.20. Following the sale, the chief executive officer now owns 701,947 shares of the company's stock, valued at $645,791.24. The trade was a 10.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In the last 90 days, insiders have sold 128,702 shares of company stock valued at $118,406. Company insiders own 69.20% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. AIGH Capital Management LLC lifted its stake in Biodesix by 8.8% in the fourth quarter. AIGH Capital Management LLC now owns 6,179,812 shares of the company's stock valued at $9,455,000 after acquiring an additional 500,000 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of Biodesix in the third quarter worth $10,849,000. Birchview Capital LP boosted its holdings in shares of Biodesix by 0.7% during the 4th quarter. Birchview Capital LP now owns 5,581,176 shares of the company's stock worth $8,539,000 after buying an additional 40,000 shares during the period. Silverarc Capital Management LLC grew its stake in Biodesix by 21.7% in the 4th quarter. Silverarc Capital Management LLC now owns 4,332,281 shares of the company's stock valued at $6,628,000 after buying an additional 771,187 shares during the last quarter. Finally, Samjo Management LLC acquired a new position in Biodesix during the 4th quarter worth $3,790,000. 20.96% of the stock is owned by institutional investors and hedge funds.

Biodesix Company Profile

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.