MDxHealth SA (NASDAQ:MDXH) Sees Large Growth in Short Interest

MDxHealth SA (NASDAQ:MDXH) was the target of a large increase in short interest in July. As of July 15th, there was short interest totaling 956,179 shares, an increase of 2,794.0% from the June 30th total of 33,040 shares. Currently, 2.0% of the company’s stock are short sold. Based on an average trading volume of 662,840 shares, the days-to-cover ratio is currently 1.4 days.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on MDXH. TD Cowen reissued a “buy” rating and issued a $1.50 target price (down from $7.00) on shares of MDxHealth in a research report on Thursday, May 14th. BTIG Research lowered their price target on MDxHealth from $7.00 to $4.00 and set a “buy” rating for the company in a research report on Thursday, May 14th. William Blair cut shares of MDxHealth from an “outperform” rating to a “market perform” rating in a report on Thursday, May 14th. Weiss Ratings restated a “sell (d-)” rating on shares of MDxHealth in a report on Friday, March 27th. Finally, Wall Street Zen cut MDxHealth from a “hold” rating to a “strong sell” rating in a research report on Saturday, May 16th. Three analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $3.50.

MDxHealth Trading Down 2.9%

NASDAQ:MDXH traded down $0.01 during mid-day trading on Friday, reaching $0.41. The company’s stock had a trading volume of 389,406 shares, compared to its average volume of 457,151. The stock has a market cap of $20.30 million, a P/E ratio of -0.63 and a beta of 1.43. The firm’s fifty day moving average price is $0.57 and its two-hundred day moving average price is $2.12. MDxHealth has a 12-month low of $0.40 and a 12-month high of $5.33.

MDxHealth (NASDAQ:MDXH) last announced its quarterly earnings results on Thursday, May 14th. The company reported ($0.19) EPS for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.05). The firm had revenue of $23.90 million for the quarter, compared to analysts’ expectations of $30.89 million. Analysts predict that MDxHealth will post -0.6 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Jefferies Financial Group Inc. purchased a new position in MDxHealth during the third quarter valued at $53,000. Russell Investments Group Ltd. bought a new position in shares of MDxHealth during the 3rd quarter valued at about $461,000. Kennedy Capital Management LLC purchased a new position in shares of MDxHealth during the third quarter valued at about $1,826,000. Panoramic Capital LLC purchased a new position in shares of MDxHealth during the third quarter valued at about $721,000. Finally, Bank of America Corp DE increased its holdings in shares of MDxHealth by 5,164.0% in the third quarter. Bank of America Corp DE now owns 15,055 shares of the company’s stock worth $70,000 after purchasing an additional 14,769 shares during the last quarter.

MDxHealth Company Profile

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.