MYDA Advisors LLC Takes $76,000 Position in Biodesix, Inc. (NASDAQ:BDSX)

MYDA Advisors LLC bought a new position in Biodesix, Inc. (NASDAQ:BDSX) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 50,000 shares of the company’s stock, valued at approximately $76,000.

A number of other hedge funds have also made changes to their positions in the company. Barclays PLC grew its stake in Biodesix by 1,140.5% during the third quarter. Barclays PLC now owns 23,036 shares of the company’s stock worth $41,000 after buying an additional 21,179 shares during the last quarter. HighTower Advisors LLC boosted its holdings in shares of Biodesix by 17.1% in the 4th quarter. HighTower Advisors LLC now owns 153,934 shares of the company’s stock worth $236,000 after acquiring an additional 22,500 shares in the last quarter. Stephens Inc. AR bought a new stake in Biodesix during the 4th quarter worth approximately $303,000. Renaissance Technologies LLC increased its holdings in Biodesix by 775.2% during the 4th quarter. Renaissance Technologies LLC now owns 360,200 shares of the company’s stock valued at $551,000 after purchasing an additional 319,043 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in Biodesix by 50.7% in the 3rd quarter. Geode Capital Management LLC now owns 804,576 shares of the company’s stock valued at $1,433,000 after purchasing an additional 270,724 shares during the last quarter. Institutional investors and hedge funds own 20.96% of the company’s stock.

Biodesix Stock Performance

Shares of Biodesix stock opened at $0.55 on Friday. The firm has a 50 day simple moving average of $0.74 and a 200 day simple moving average of $1.15. Biodesix, Inc. has a fifty-two week low of $0.51 and a fifty-two week high of $2.04. The company has a debt-to-equity ratio of 1.30, a current ratio of 3.40 and a quick ratio of 3.40. The firm has a market cap of $80.14 million, a P/E ratio of -1.41 and a beta of 1.17.

Biodesix (NASDAQ:BDSX) last released its earnings results on Monday, March 3rd. The company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.07) by $0.01. The company had revenue of $20.43 million during the quarter, compared to analysts’ expectations of $19.92 million. Biodesix had a negative return on equity of 275.79% and a negative net margin of 66.84%. Sell-side analysts predict that Biodesix, Inc. will post -0.35 earnings per share for the current fiscal year.

Insider Buying and Selling at Biodesix

In other news, CEO Scott Hutton sold 83,660 shares of the firm’s stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $0.92, for a total value of $76,967.20. Following the transaction, the chief executive officer now directly owns 701,947 shares in the company, valued at $645,791.24. This trade represents a 10.65 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last three months, insiders have sold 128,702 shares of company stock worth $118,406. Company insiders own 69.20% of the company’s stock.

Analysts Set New Price Targets

Separately, William Blair restated an “outperform” rating on shares of Biodesix in a research note on Tuesday, March 4th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Biodesix presently has an average rating of “Buy” and an average price target of $2.95.

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.