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

Biodesix, Inc. (NASDAQ:BDSX) was the recipient of a significant growth in short interest during 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 short-interest ratio is presently 2.0 days.

Insiders Place Their Bets

In other Biodesix news, CEO Scott Hutton sold 29,708 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $1.66, for a total transaction of $49,315.28. Following the completion of the sale, the chief executive officer now directly owns 465,011 shares in the company, valued at $771,918.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold 96,128 shares of company stock worth $173,035 over the last three months. Insiders own 63.80% of the company’s stock.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Biodesix stock. Opaleye Management Inc. lifted its holdings in shares of Biodesix, Inc. (NASDAQ:BDSX) by 9.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 496,500 shares of the company’s stock after purchasing an additional 40,927 shares during the quarter. Opaleye Management Inc. owned 0.55% of Biodesix worth $914,000 as of its most recent SEC filing. Institutional investors and hedge funds own 20.96% of the company’s stock.

Biodesix Stock Performance

Shares of BDSX traded down $0.02 during mid-day trading on Monday, hitting $1.22. 23,477 shares of the company’s stock were exchanged, compared to its average volume of 142,641. Biodesix has a 52 week low of $1.03 and a 52 week high of $2.21. The stock’s 50-day simple moving average is $1.41 and its 200-day simple moving average is $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 (NASDAQ:BDSX) last announced its earnings results on Friday, March 1st. The company reported ($0.10) EPS for the quarter, topping the consensus estimate of ($0.11) by $0.01. Biodesix had a negative net margin of 106.23% and a negative return on equity of 29,379.44%. The company had revenue of $14.67 million for the quarter, compared to analysts’ expectations of $15.76 million. Research analysts predict that Biodesix will post -0.44 earnings per share for the current year.

Wall Street Analyst Weigh In

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

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.