Brokerages Set Biodesix, Inc. (NASDAQ:BDSX) PT at $32.50

Shares of Biodesix, Inc. (NASDAQ:BDSX) have been given an average recommendation of “Moderate Buy” by the six analysts that are covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating and five have given a buy rating to the company. The average 12 month price target among brokers that have covered the stock in the last year is $32.50.

Several equities research analysts have recently issued reports on BDSX shares. William Blair raised shares of Biodesix from a “market perform” rating to an “outperform” rating in a research report on Friday, February 27th. Canaccord Genuity Group reissued a “buy” rating and set a $20.00 price objective on shares of Biodesix in a research report on Tuesday, February 17th.

Insider Buying and Selling

In related news, CEO Scott Hutton sold 3,559 shares of the stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $10.08, for a total transaction of $35,874.72. Following the completion of the transaction, the chief executive officer owned 45,413 shares in the company, valued at approximately $457,763.04. This represents a 7.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have sold a total of 9,052 shares of company stock worth $100,227 in the last ninety days. Corporate insiders own 23.20% of the company’s stock.

Hedge Funds Weigh In On Biodesix

A number of large investors have recently modified their holdings of the business. AIGH Capital Management LLC acquired a new position in shares of Biodesix during the 1st quarter worth about $10,996,000. Aberdeen Group plc acquired a new position in shares of Biodesix during the 4th quarter worth about $1,784,000. XTX Topco Ltd boosted its stake in shares of Biodesix by 99.4% during the 2nd quarter. XTX Topco Ltd now owns 205,647 shares of the company’s stock worth $58,000 after buying an additional 102,494 shares during the last quarter. Monashee Investment Management LLC boosted its stake in shares of Biodesix by 12.3% during the 4th quarter. Monashee Investment Management LLC now owns 112,344 shares of the company’s stock worth $764,000 after buying an additional 12,348 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Biodesix by 5.6% during the 4th quarter. Geode Capital Management LLC now owns 42,453 shares of the company’s stock worth $289,000 after buying an additional 2,235 shares during the last quarter. 20.96% of the stock is currently owned by institutional investors and hedge funds.

Biodesix Stock Up 0.9%

Shares of BDSX stock opened at $11.08 on Friday. The firm has a fifty day moving average of $14.39 and a 200-day moving average of $10.34. Biodesix has a 12-month low of $3.44 and a 12-month high of $20.21. The company has a market capitalization of $112.02 million, a price-to-earnings ratio of -2.28 and a beta of 0.43.

Biodesix (NASDAQ:BDSX) last issued its quarterly earnings data on Thursday, February 26th. The company reported ($0.49) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.05) by $0.56. Biodesix had a negative net margin of 39.85% and a negative return on equity of 1,760.83%. The company had revenue of $28.76 million during the quarter, compared to the consensus estimate of $26.25 million. On average, equities analysts expect that Biodesix will post -3.62 EPS for the current year.

Biodesix Company Profile

Biodesix, Inc is a commercial-stage molecular diagnostics company headquartered in Boulder, Colorado, that develops and delivers blood-based tests to improve the diagnosis and management of lung diseases, including lung cancer. The company integrates advanced proteomic and, more recently, genomic technologies to offer noninvasive testing solutions designed to guide clinical decision-making. Biodesix operates a CLIA-certified and CAP-accredited laboratory, allowing it to process patient samples at scale and maintain rigorous quality standards.

The company’s flagship product, VeriStrat®, is a proteomic test that stratifies patients with non-small cell lung cancer into groups more likely to benefit from specific therapies.