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

Biodesix, Inc. (NASDAQ:BDSX) was the recipient of a significant drop in short interest in the month of 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. Currently, 2.6% of the shares of the company are sold short. Based on an average daily volume of 176,780 shares, the short-interest ratio is presently 1.0 days.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In related news, CEO Scott Hutton sold 3,559 shares of Biodesix stock in a transaction that occurred 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. The trade was a 7.27% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Jack W. Schuler bought 20,000 shares of Biodesix stock in a transaction on Monday, January 26th. The stock was purchased at an average price of $11.80 per share, for a total transaction of $236,000.00. Following the completion of the acquisition, the director owned 1,563,210 shares in the company, valued at $18,445,878. This represents a 1.30% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last 90 days, insiders purchased 182,465 shares of company stock worth $2,084,616 and sold 10,999 shares worth $116,095. 30.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Biodesix

Large investors have recently added to or reduced their stakes in the stock. Aberdeen Group plc bought a new position in shares of Biodesix in the fourth quarter valued at approximately $1,784,000. XTX Topco Ltd boosted its holdings in shares of Biodesix by 99.4% during the 2nd quarter. XTX Topco Ltd now owns 205,647 shares of the company’s stock worth $58,000 after buying an additional 102,494 shares during the period. Monashee Investment Management LLC grew its stake in Biodesix by 12.3% in the 4th 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 last quarter. Geode Capital Management LLC boosted its holdings in Biodesix by 5.6% during the fourth quarter. Geode Capital Management LLC now owns 42,453 shares of the company’s stock valued at $289,000 after acquiring an additional 2,235 shares during the period. Finally, Trexquant Investment LP bought a new position in shares of Biodesix in the fourth quarter worth about $187,000. Institutional investors own 20.96% of the company’s stock.

Biodesix Stock Up 2.7%

Shares of NASDAQ BDSX traded up $0.40 during trading hours on Wednesday, hitting $14.90. The stock had a trading volume of 10,504 shares, compared to its average volume of 1,445,203. The firm’s 50-day moving average price is $13.60 and its two-hundred day moving average price is $9.56. Biodesix has a 52 week low of $3.44 and a 52 week high of $20.21. The company has a market capitalization of $146.86 million, a P/E ratio of -3.07 and a beta of 0.59. The company has a debt-to-equity ratio of 41.11, a quick ratio of 1.86 and a current ratio of 1.87.

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