MDxHealth SA (NASDAQ:MDXH) Sees Significant Drop in Short Interest

MDxHealth SA (NASDAQ:MDXH) was the recipient of a significant decrease in short interest in June. As of June 30th, there was short interest totaling 33,040 shares, a decrease of 68.8% from the June 15th total of 106,013 shares. Approximately 0.1% of the company’s stock are sold short. Based on an average daily volume of 911,575 shares, the days-to-cover ratio is presently 0.0 days.

MDxHealth Trading Down 2.8%

Shares of NASDAQ MDXH traded down $0.01 during midday trading on Friday, reaching $0.48. 463,087 shares of the company were exchanged, compared to its average volume of 737,024. The stock has a market cap of $23.56 million, a P/E ratio of -0.73 and a beta of 1.43. MDxHealth has a 1 year low of $0.40 and a 1 year high of $5.33. The stock has a fifty day simple moving average of $0.83 and a 200 day simple moving average of $2.32.

MDxHealth (NASDAQ:MDXH) last posted its quarterly earnings data on Thursday, May 14th. The company reported ($0.19) EPS for the quarter, missing the consensus estimate of ($0.14) by ($0.05). The business had revenue of $23.90 million during the quarter, compared to analysts’ expectations of $30.89 million. As a group, analysts forecast that MDxHealth will post -0.6 earnings per share for the current year.

Institutional Investors Weigh In On MDxHealth

Several hedge funds have recently modified their holdings of the stock. Perkins Capital Management Inc. lifted its position in shares of MDxHealth by 7.1% during the 1st quarter. Perkins Capital Management Inc. now owns 1,476,441 shares of the company’s stock valued at $3,396,000 after acquiring an additional 97,500 shares during the period. Kennedy Capital Management LLC purchased a new position in MDxHealth in the 3rd quarter valued at approximately $1,826,000. FreeGulliver LLC raised its holdings in MDxHealth by 25.7% during the fourth quarter. FreeGulliver LLC now owns 317,894 shares of the company’s stock worth $1,135,000 after purchasing an additional 65,000 shares during the last quarter. Renaissance Technologies LLC raised its holdings in MDxHealth by 21.8% during the first quarter. Renaissance Technologies LLC now owns 304,700 shares of the company’s stock worth $701,000 after purchasing an additional 54,600 shares during the last quarter. Finally, Mink Brook Asset Management LLC boosted its position in MDxHealth by 64.9% during the fourth quarter. Mink Brook Asset Management LLC now owns 263,420 shares of the company’s stock worth $940,000 after purchasing an additional 103,686 shares in the last quarter.

Analysts Set New Price Targets

Several brokerages have recently issued reports on MDXH. William Blair cut shares of MDxHealth from an “outperform” rating to a “market perform” rating in a report on Thursday, May 14th. Lake Street Capital reduced their price target on shares of MDxHealth from $9.00 to $5.00 and set a “buy” rating for the company in a research report on Thursday, May 14th. Weiss Ratings restated a “sell (d-)” rating on shares of MDxHealth in a research note on Friday, March 27th. TD Cowen reaffirmed a “buy” rating and set a $1.50 price objective (down from $7.00) on shares of MDxHealth in a report on Thursday, May 14th. Finally, BTIG Research cut their target price on MDxHealth from $7.00 to $4.00 and set a “buy” rating on the stock in a research report on Thursday, May 14th. Four equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $4.62.

About MDxHealth

MDxHealth, headquartered in Mechelen, Belgium, with a U.S. presence in Newton, Massachusetts, is a molecular diagnostics company focused on improving the accuracy of cancer diagnosis and treatment decision making through epigenetic biomarker assays. The company specializes in developing and commercializing tests that detect DNA methylation changes associated with urological cancers, enabling more precise risk stratification and patient management.

MDxHealth’s lead product portfolio includes ConfirmMDx and SelectMDx.