Short Interest in Biodesix, Inc. (NASDAQ:BDSX) Rises By 29.3%

Biodesix, Inc. (NASDAQ:BDSX - Get Free Report) was the recipient of a significant increase in short interest in September. As of September 30th, there was short interest totalling 419,700 shares, an increase of 29.3% from the September 15th total of 324,700 shares. Based on an average daily volume of 128,000 shares, the short-interest ratio is presently 3.3 days.

Biodesix Price Performance

Shares of BDSX stock traded down $0.01 during trading hours on Friday, hitting $1.69. The stock had a trading volume of 73,868 shares, compared to its average volume of 146,817. The stock has a market capitalization of $245.35 million, a price-to-earnings ratio of -3.67 and a beta of 1.22. Biodesix has a one year low of $1.15 and a one year high of $2.21. The stock's 50-day moving average price is $1.75 and its two-hundred day moving average price is $1.58. The company has a debt-to-equity ratio of 0.99, a current ratio of 3.28 and a quick ratio of 3.28.

Biodesix (NASDAQ:BDSX - Get Free Report) last issued its quarterly earnings results on Wednesday, August 7th. The company reported ($0.08) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.09) by $0.01. Biodesix had a negative return on equity of 505.95% and a negative net margin of 73.08%. The firm had revenue of $17.93 million during the quarter, compared to analyst estimates of $16.05 million. During the same period last year, the company earned ($0.17) EPS. Equities analysts forecast that Biodesix will post -0.36 EPS for the current year.

Institutional Investors Weigh In On Biodesix

Several large investors have recently added to or reduced their stakes in the stock. CVI Holdings LLC purchased a new stake in Biodesix in the second quarter worth about $59,000. Opaleye Management Inc. boosted its stake in shares of Biodesix by 7.7% during the first quarter. Opaleye Management Inc. now owns 534,657 shares of the company's stock valued at $765,000 after purchasing an additional 38,157 shares in the last quarter. Essex Investment Management Co. LLC increased its holdings in 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. Farallon Capital Management LLC bought a new position in Biodesix in the second quarter worth approximately $2,874,000. Finally, Perceptive Advisors LLC bought a new position in Biodesix in the second quarter worth approximately $3,326,000. 20.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on BDSX. Scotiabank started coverage on shares of Biodesix in a research note on Monday, September 16th. They set a "sector outperform" rating and a $3.00 target price on the stock. Craig Hallum began coverage on Biodesix in a research note on Friday, July 26th. They issued a "buy" rating and a $3.00 price objective for the company. Seven investment 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 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.