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

Biodesix, Inc. (NASDAQ:BDSX) was the target of a large decrease in short interest in the month of October. As of October 15th, there was short interest totaling 97,700 shares, a decrease of 39.5% from the September 30th total of 161,600 shares. Based on an average daily trading volume, of 215,900 shares, the days-to-cover ratio is currently 0.5 days. Currently, 2.6% of the company’s stock are short sold. Currently, 2.6% of the company’s stock are short sold. Based on an average daily trading volume, of 215,900 shares, the days-to-cover ratio is currently 0.5 days.

Analysts Set New Price Targets

BDSX has been the subject of several recent analyst reports. Canaccord Genuity Group set a $20.00 target price on Biodesix and gave the company a “buy” rating in a report on Friday, September 19th. Weiss Ratings restated a “sell (e+)” rating on shares of Biodesix in a research report on Wednesday, October 8th. Finally, Wall Street Zen raised Biodesix to a “sell” rating in a research note on Saturday, September 13th. Four investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $32.50.

Insiders Place Their Bets

In related news, Director Jack W. Schuler acquired 174,418 shares of the firm’s stock in a transaction on Friday, August 29th. The stock was purchased at an average cost of $8.60 per share, with a total value of $1,499,994.80. Following the acquisition, the director owned 1,220,327 shares of the company’s stock, valued at approximately $10,494,812.20. This trade represents a 16.68% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Over the last 90 days, insiders purchased 334,836 shares of company stock worth $2,611,362 and sold 293 shares worth $2,461. Company insiders own 30.10% of the company’s stock.

Hedge Funds Weigh In On Biodesix

Several large investors have recently made changes to their positions in BDSX. XTX Topco Ltd purchased a new position in shares of Biodesix during the first quarter valued at approximately $64,000. Blair William & Co. IL lifted its holdings in shares of Biodesix by 33.3% during the first quarter. Blair William & Co. IL now owns 124,100 shares of the company’s stock valued at $78,000 after purchasing an additional 31,000 shares during the last quarter. Monashee Investment Management LLC lifted its holdings in shares of Biodesix by 15.7% during the first quarter. Monashee Investment Management LLC now owns 4,050,000 shares of the company’s stock valued at $2,532,000 after purchasing an additional 549,121 shares during the last quarter. Finally, Birchview Capital LP lifted its holdings in shares of Biodesix by 2.8% during the first quarter. Birchview Capital LP now owns 5,736,113 shares of the company’s stock valued at $3,586,000 after purchasing an additional 154,937 shares during the last quarter. 20.96% of the stock is currently owned by hedge funds and other institutional investors.

Biodesix Stock Up 4.0%

NASDAQ BDSX opened at $6.83 on Friday. The company has a debt-to-equity ratio of 41.11, a current ratio of 2.14 and a quick ratio of 2.14. The stock has a market capitalization of $50.06 million, a PE ratio of -1.18 and a beta of 0.98. Biodesix has a 1 year low of $3.44 and a 1 year high of $34.39. The business’s 50-day moving average is $7.70 and its 200 day moving average is $7.45.

Biodesix (NASDAQ:BDSX) last issued its quarterly earnings data on Thursday, August 7th. The company reported ($1.60) EPS for the quarter, missing the consensus estimate of ($1.40) by ($0.20). Biodesix had a negative return on equity of 269.67% and a negative net margin of 53.66%.The company had revenue of $20.02 million during the quarter, compared to analysts’ expectations of $18.47 million. Biodesix has set its FY 2025 guidance at EPS. Sell-side analysts forecast that Biodesix will post -0.35 earnings per share for the current 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.