Short Interest in Biodesix, Inc. (NASDAQ:BDSX) Drops By 7.4%

Biodesix, Inc. (NASDAQ:BDSX) was the target of a significant decrease in short interest in the month of January. As of January 15th, there was short interest totalling 836,600 shares, a decrease of 7.4% from the December 31st total of 903,100 shares. Based on an average daily volume of 420,900 shares, the days-to-cover ratio is presently 2.0 days.

Biodesix Stock Performance

BDSX traded down $0.02 during midday trading on Monday, hitting $1.01. 193,655 shares of the company traded hands, compared to its average volume of 476,998. The company’s 50-day moving average is $1.31 and its 200 day moving average is $1.53. The company has a quick ratio of 3.40, a current ratio of 3.40 and a debt-to-equity ratio of 1.30. The firm has a market capitalization of $146.92 million, a PE ratio of -2.59 and a beta of 1.06. Biodesix has a 52 week low of $0.86 and a 52 week high of $2.21.

Biodesix (NASDAQ:BDSX) last posted its earnings results on Friday, November 1st. The company reported ($0.07) EPS for the quarter, hitting analysts’ consensus estimates of ($0.07). The business had revenue of $18.15 million during the quarter, compared to the consensus estimate of $18.45 million. Biodesix had a negative net margin of 66.84% and a negative return on equity of 275.79%. During the same quarter in the previous year, the firm posted ($0.12) EPS. On average, research analysts expect that Biodesix will post -0.35 EPS for the current year.

Insiders Place Their Bets

In other news, Director Jack W. Schuler acquired 200,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The stock was bought at an average cost of $1.17 per share, for a total transaction of $234,000.00. Following the acquisition, the director now directly owns 31,094,935 shares in the company, valued at approximately $36,381,073.95. The trade was a 0.65 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Matthew Strobeck bought 40,000 shares of Biodesix stock in a transaction on Tuesday, November 5th. The stock was acquired at an average cost of $1.40 per share, with a total value of $56,000.00. Following the acquisition, the director now owns 2,606,879 shares in the company, valued at approximately $3,649,630.60. This represents a 1.56 % increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 315,000 shares of company stock worth $393,500. 69.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Barclays PLC boosted its holdings in shares of Biodesix by 1,140.5% in the third quarter. Barclays PLC now owns 23,036 shares of the company’s stock worth $41,000 after buying an additional 21,179 shares during the last quarter. Landscape Capital Management L.L.C. purchased a new position in Biodesix during the third quarter valued at $262,000. Stephens Inc. AR bought a new stake in Biodesix during the fourth quarter valued at about $303,000. Perkins Capital Management Inc. increased its position in Biodesix by 74.7% in the third quarter. Perkins Capital Management Inc. now owns 724,782 shares of the company’s stock worth $1,290,000 after buying an additional 310,000 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Biodesix by 50.7% in the third quarter. Geode Capital Management LLC now owns 804,576 shares of the company’s stock worth $1,433,000 after buying an additional 270,724 shares during the period. 20.96% of the stock is owned by hedge funds and other institutional investors.

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.