Biodesix, Inc. (NASDAQ:BDSX) Sees Large Decline in Short Interest

Biodesix, Inc. (NASDAQ:BDSX) was the recipient of a large decline in short interest in December. As of December 31st, there was short interest totalling 836,600 shares, a decline of 7.4% from the December 15th total of 903,100 shares. Based on an average daily volume of 420,900 shares, the short-interest ratio is currently 2.0 days.

Biodesix Price Performance

Shares of Biodesix stock traded up $0.01 during trading on Friday, hitting $1.15. The company’s stock had a trading volume of 195,487 shares, compared to its average volume of 222,300. Biodesix has a 52 week low of $1.09 and a 52 week high of $2.21. The company has a quick ratio of 3.40, a current ratio of 3.40 and a debt-to-equity ratio of 1.30. The company has a fifty day simple moving average of $1.37 and a two-hundred day simple moving average of $1.57.

Biodesix (NASDAQ:BDSX) last announced its quarterly earnings data on Friday, November 1st. The company reported ($0.07) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.07). Biodesix had a negative net margin of 66.84% and a negative return on equity of 275.79%. The company had revenue of $18.15 million during the quarter, compared to analyst estimates of $18.45 million. During the same period in the previous year, the business earned ($0.12) EPS. On average, equities research analysts forecast that Biodesix will post -0.35 EPS for the current fiscal year.

Insider Activity

In related news, Chairman John Patience acquired 75,000 shares of Biodesix stock in a transaction on Tuesday, November 5th. The shares were acquired at an average cost of $1.38 per share, with a total value of $103,500.00. Following the transaction, the chairman now owns 2,153,298 shares in the company, valued at $2,971,551.24. This trade represents a 3.61 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Jack W. Schuler acquired 200,000 shares of the firm’s stock in a transaction on Wednesday, November 20th. The stock was bought at an average price of $1.17 per share, with a total value of $234,000.00. Following the completion of the acquisition, the director now directly owns 31,094,935 shares in the company, valued at approximately $36,381,073.95. This represents a 0.65 % increase in their position. The disclosure for this purchase can be found here. Insiders bought 315,000 shares of company stock worth $393,500 in the last three months. Corporate insiders own 69.20% of the company’s stock.

Institutional Trading of Biodesix

Large investors have recently added to or reduced their stakes in the business. Wilmington Savings Fund Society FSB bought a new stake in shares of Biodesix during the 3rd quarter valued at $10,849,000. Perceptive Advisors LLC bought a new stake in Biodesix during the second quarter valued at about $3,326,000. Farallon Capital Management LLC purchased a new stake in Biodesix in the second quarter worth about $2,874,000. Geode Capital Management LLC raised its stake in shares of Biodesix by 50.7% in the third quarter. Geode Capital Management LLC now owns 804,576 shares of the company’s stock worth $1,433,000 after buying an additional 270,724 shares during the period. Finally, Perkins Capital Management Inc. raised its stake in shares of Biodesix by 74.7% in the third quarter. Perkins Capital Management Inc. now owns 724,782 shares of the company’s stock worth $1,290,000 after buying an additional 310,000 shares during the period. 20.96% of the stock is currently owned by institutional investors.

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.