Biodesix, Inc. (NASDAQ:BDSX) Short Interest Up 69.8% in April

Biodesix, Inc. (NASDAQ:BDSX – Get Rating) was the recipient of a significant increase in short interest during the month of April. As of April 15th, there was short interest totalling 1,800,000 shares, an increase of 69.8% from the March 31st total of 1,060,000 shares. Based on an average daily trading volume, of 529,500 shares, the days-to-cover ratio is currently 3.4 days. Currently, 37.3% of the company’s stock are sold short.

Several research firms have recently commented on BDSX. Cowen began coverage on Biodesix in a report on Wednesday, April 20th. They set an “outperform” rating for the company. BTIG Research reiterated a “buy” rating and set a $10.00 price objective (down from $17.00) on shares of Biodesix in a research report on Thursday, April 14th. Cowen started coverage on Biodesix in a research report on Wednesday, April 20th. They set an “outperform” rating for the company. Canaccord Genuity Group reduced their price objective on Biodesix from $22.00 to $18.00 and set a “buy” rating for the company in a research report on Tuesday, February 15th. Finally, Zacks Investment Research downgraded Biodesix from a “buy” rating to a “hold” rating in a research report on Thursday, March 17th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $12.95.

In related news, Director Matthew Strobeck bought 558,659 shares of the stock in a transaction dated Thursday, April 7th. The stock was bought at an average cost of $1.79 per share, with a total value of $999,999.61. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman John Patience bought 279,329 shares of the stock in a transaction dated Thursday, April 7th. The shares were bought at an average cost of $1.79 per share, with a total value of $499,998.91. Following the completion of the acquisition, the chairman now directly owns 337,926 shares of the company’s stock, valued at approximately $604,887.54. The disclosure for this purchase can be found here. 49.80% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. lifted its position in Biodesix by 1.1% in the fourth quarter. BlackRock Inc. now owns 577,242 shares of the company’s stock worth $3,054,000 after purchasing an additional 6,070 shares during the period. Geode Capital Management LLC lifted its position in shares of Biodesix by 6.6% during the 4th quarter. Geode Capital Management LLC now owns 160,940 shares of the company’s stock valued at $851,000 after acquiring an additional 9,917 shares during the last quarter. Morgan Stanley lifted its position in shares of Biodesix by 148.9% during the 3rd quarter. Morgan Stanley now owns 108,523 shares of the company’s stock valued at $892,000 after acquiring an additional 64,919 shares during the last quarter. Citadel Advisors LLC lifted its position in shares of Biodesix by 20.1% during the 2nd quarter. Citadel Advisors LLC now owns 54,118 shares of the company’s stock valued at $715,000 after acquiring an additional 9,069 shares during the last quarter. Finally, Millennium Management LLC acquired a new stake in shares of Biodesix during the 4th quarter valued at $275,000. Hedge funds and other institutional investors own 75.82% of the company’s stock.

BDSX opened at $1.61 on Friday. Biodesix has a 1-year low of $1.31 and a 1-year high of $16.63. The business has a 50 day moving average price of $1.96 and a two-hundred day moving average price of $4.24.

Biodesix (NASDAQ:BDSX – Get Rating) last released its earnings results on Monday, March 14th. The company reported ($0.49) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.50) by $0.01. The firm had revenue of $7.22 million during the quarter, compared to analyst estimates of $7.33 million. During the same quarter last year, the company earned ($0.25) earnings per share. On average, analysts predict that Biodesix will post -1.13 EPS for the current fiscal year.

About Biodesix (Get Rating)

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.

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