Biodesix, Inc. (NASDAQ:BDSX) Short Interest Update

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

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. TD Cowen assumed coverage on Biodesix in a report on Monday, May 13th. They set a “buy” rating and a $2.80 price target for the company. Lake Street Capital started coverage on shares of Biodesix in a report on Friday, May 3rd. They issued a “buy” rating and a $3.00 target price for the company. Finally, Craig Hallum initiated coverage on shares of Biodesix in a research note on Friday. They set a “buy” rating and a $3.00 price target on the stock. Six analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $3.08.

Biodesix Trading Down 1.2 %

Shares of NASDAQ:BDSX traded down $0.02 on Tuesday, hitting $1.69. 26,871 shares of the company’s stock were exchanged, compared to its average volume of 147,470. The business’s 50 day simple moving average is $1.56 and its two-hundred day simple moving average is $1.56. The company has a debt-to-equity ratio of 7.69, a current ratio of 0.91 and a quick ratio of 0.91. The stock has a market capitalization of $193.82 million, a price-to-earnings ratio of -3.11 and a beta of 1.21. Biodesix has a 12 month low of $1.09 and a 12 month high of $2.21.

Biodesix (NASDAQ:BDSX) last announced its quarterly earnings results 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 return on equity of 29,379.44% and a negative net margin of 85.80%. The firm had revenue of $14.82 million during the quarter, compared to analyst estimates of $14.00 million. Analysts anticipate that Biodesix will post -0.36 EPS for the current fiscal year.

Institutional Trading of Biodesix

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Oracle Investment Management Inc. boosted its holdings in shares of Biodesix by 44.8% in the 4th quarter. Oracle Investment Management Inc. now owns 60,939 shares of the company’s stock valued at $112,000 after buying an additional 18,863 shares in the last quarter. Opaleye Management Inc. lifted its holdings in shares of Biodesix by 9.0% during the 4th quarter. Opaleye Management Inc. now owns 496,500 shares of the company’s stock valued at $914,000 after purchasing an additional 40,927 shares during the last quarter. Finally, Essex Investment Management Co. LLC boosted 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 worth $1,324,000 after purchasing an additional 12,669 shares in the last quarter. 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.