Short Interest in LumiraDx Limited (NASDAQ:LMDX) Drops By 7.6%

LumiraDx Limited (NASDAQ:LMDX – Get Rating) saw a significant decrease in short interest in the month of February. As of February 28th, there was short interest totalling 513,200 shares, a decrease of 7.6% from the February 13th total of 555,400 shares. Currently, 11.6% of the shares of the company are short sold. Based on an average trading volume of 180,900 shares, the days-to-cover ratio is currently 2.8 days.

Institutional Trading of LumiraDx

A number of hedge funds and other institutional investors have recently bought and sold shares of LMDX. Bill & Melinda Gates Foundation bought a new position in shares of LumiraDx during the 3rd quarter valued at approximately $14,600,000. Senvest Management LLC boosted its position in shares of LumiraDx by 297.0% in the third quarter. Senvest Management LLC now owns 10,737,651 shares of the company’s stock worth $10,952,000 after purchasing an additional 8,032,616 shares during the period. Balyasny Asset Management LLC increased its stake in shares of LumiraDx by 36,072.9% in the third quarter. Balyasny Asset Management LLC now owns 3,771,385 shares of the company’s stock worth $3,847,000 after purchasing an additional 3,760,959 shares in the last quarter. Pictet Asset Management SA bought a new stake in shares of LumiraDx during the 3rd quarter valued at $1,659,000. Finally, Alpine Global Management LLC lifted its stake in shares of LumiraDx by 41.4% during the 4th quarter. Alpine Global Management LLC now owns 990,000 shares of the company’s stock valued at $891,000 after buying an additional 290,000 shares in the last quarter.

LumiraDx Trading Down 1.2 %

Shares of LMDX stock opened at $0.92 on Thursday. The company has a debt-to-equity ratio of 20.12, a current ratio of 2.91 and a quick ratio of 1.63. The company has a market cap of $232.31 million, a price-to-earnings ratio of -0.69 and a beta of 1.17. LumiraDx has a 1 year low of $0.77 and a 1 year high of $8.93. The firm has a fifty day moving average price of $1.03 and a 200-day moving average price of $1.10.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group started coverage on shares of LumiraDx in a research report on Monday, December 19th. They set a “neutral” rating for the company.

About LumiraDx

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LumiraDx Limited operates as a point of care diagnostics company. The company focuses on transforming community-based healthcare by providing critical diagnostic information to healthcare providers. It manufactures and commercializes a diagnostic platform that supports various tests with lab comparable performance at the point of care.