Biodesix, Inc. (NASDAQ:BDSX) Short Interest Up 13.6% in April

Biodesix, Inc. (NASDAQ:BDSX) saw a large growth in short interest in the month of April. As of April 15th, there was short interest totalling 315,000 shares, a growth of 13.6% from the March 31st total of 277,400 shares. Based on an average trading volume of 158,200 shares, the days-to-cover ratio is currently 2.0 days.

Insiders Place Their Bets

In other Biodesix news, CEO Scott Hutton sold 34,682 shares of the business’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $1.92, for a total transaction of $66,589.44. Following the completion of the transaction, the chief executive officer now owns 494,719 shares in the company, valued at approximately $949,860.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last quarter, insiders sold 96,128 shares of company stock worth $173,035. 63.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Biodesix stock. Oracle Investment Management Inc. purchased a new stake in shares of Biodesix, Inc. (NASDAQ:BDSX) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 42,076 shares of the company’s stock, valued at approximately $69,000. Biodesix accounts for about 0.0% of Oracle Investment Management Inc.’s holdings, making the stock its 17th largest position. Hedge funds and other institutional investors own 20.96% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Canaccord Genuity Group reaffirmed a “buy” rating and set a $3.50 target price on shares of Biodesix in a research report on Monday, March 4th.

Biodesix Price Performance

Shares of Biodesix stock traded down $0.02 on Monday, reaching $1.22. 23,477 shares of the company were exchanged, compared to its average volume of 142,641. The stock has a fifty day moving average price of $1.41 and a 200-day moving average price of $1.58. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 7.69. Biodesix has a fifty-two week low of $1.03 and a fifty-two week high of $2.21.

Biodesix (NASDAQ:BDSX) last announced its earnings results on Friday, March 1st. The company reported ($0.10) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.01. The company had revenue of $14.67 million for the quarter, compared to analyst estimates of $15.76 million. Biodesix had a negative return on equity of 29,379.44% and a negative net margin of 106.23%. Sell-side analysts expect that Biodesix will post -0.44 earnings per share for the current fiscal year.

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.