Biodesix, Inc. (NASDAQ:BDSX) Short Interest Down 19.4% in March

Biodesix, Inc. (NASDAQ:BDSX) was the target of a large drop in short interest in March. As of March 13th, there was short interest totaling 179,099 shares, a drop of 19.4% from the February 26th total of 222,245 shares. Based on an average daily trading volume, of 176,780 shares, the days-to-cover ratio is currently 1.0 days. Currently, 2.6% of the shares of the stock are short sold.

Insider Buying and Selling

In related news, Director Jack W. Schuler acquired 20,000 shares of Biodesix stock in a transaction dated Monday, January 26th. The shares were purchased at an average price of $11.80 per share, for a total transaction of $236,000.00. Following the completion of the transaction, the director directly owned 1,563,210 shares in the company, valued at approximately $18,445,878. This represents a 1.30% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Scott Hutton sold 3,559 shares of the business’s stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $10.08, for a total transaction of $35,874.72. Following the completion of the transaction, the chief executive officer directly owned 45,413 shares in the company, valued at $457,763.04. This trade represents a 7.27% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have acquired 182,465 shares of company stock valued at $2,084,616 and have sold 10,999 shares valued at $116,095. Company insiders own 30.10% of the company’s stock.

Institutional Investors Weigh In On Biodesix

Institutional investors have recently made changes to their positions in the company. Cetera Investment Advisers purchased a new position in shares of Biodesix during the 4th quarter worth about $68,000. Trexquant Investment LP bought a new stake in Biodesix in the fourth quarter worth about $187,000. State Street Corp lifted its stake in Biodesix by 15.6% in the fourth quarter. State Street Corp now owns 17,802 shares of the company’s stock worth $121,000 after purchasing an additional 2,400 shares during the last quarter. DRW Securities LLC purchased a new position in shares of Biodesix during the fourth quarter valued at approximately $105,000. Finally, Monashee Investment Management LLC boosted its position in shares of Biodesix by 12.3% during the fourth quarter. Monashee Investment Management LLC now owns 112,344 shares of the company’s stock valued at $764,000 after buying an additional 12,348 shares during the period. Institutional investors own 20.96% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on BDSX shares. William Blair raised Biodesix from a “market perform” rating to an “outperform” rating in a research note on Friday, February 27th. Canaccord Genuity Group restated a “buy” rating and issued a $20.00 price target on shares of Biodesix in a research report on Tuesday, February 17th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Biodesix in a research note on Monday, December 22nd. Five research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, Biodesix has an average rating of “Moderate Buy” and an average price target of $32.50.

Biodesix Price Performance

Shares of Biodesix stock opened at $14.21 on Monday. The stock has a market cap of $140.11 million, a price-to-earnings ratio of -2.93 and a beta of 0.58. The company has a debt-to-equity ratio of 41.11, a quick ratio of 1.86 and a current ratio of 1.87. The stock has a 50 day moving average price of $13.37 and a 200-day moving average price of $9.47. Biodesix has a one year low of $3.44 and a one year high of $20.21.

Biodesix (NASDAQ:BDSX) last released its quarterly earnings results on Thursday, February 26th. The company reported ($0.49) earnings per share for the quarter, beating the consensus estimate of ($1.05) by $0.56. The company had revenue of $28.76 million for the quarter, compared to analyst estimates of $26.25 million. Biodesix had a negative return on equity of 1,760.83% and a negative net margin of 39.85%. Equities analysts expect that Biodesix will post -0.35 EPS for the current year.

About Biodesix

Biodesix, Inc is a commercial-stage molecular diagnostics company headquartered in Boulder, Colorado, that develops and delivers blood-based tests to improve the diagnosis and management of lung diseases, including lung cancer. The company integrates advanced proteomic and, more recently, genomic technologies to offer noninvasive testing solutions designed to guide clinical decision-making. Biodesix operates a CLIA-certified and CAP-accredited laboratory, allowing it to process patient samples at scale and maintain rigorous quality standards.

The company’s flagship product, VeriStrat®, is a proteomic test that stratifies patients with non-small cell lung cancer into groups more likely to benefit from specific therapies.