Walleye Capital LLC Takes Position in Biodesix, Inc. $BDSX

Walleye Capital LLC bought a new stake in shares of Biodesix, Inc. (NASDAQ:BDSX) during the 2nd quarter, HoldingsChannel reports. The institutional investor bought 74,447 shares of the company’s stock, valued at approximately $1,679,000.

Several other large investors have also added to or reduced their stakes in the business. Cetera Investment Advisers bought a new stake in Biodesix in the fourth quarter worth approximately $68,000. Thompson Davis & CO. Inc. bought a new position in shares of Biodesix during the 1st quarter worth approximately $170,000. Renaissance Technologies LLC bought a new position in shares of Biodesix during the 1st quarter worth approximately $173,000. Millennium Management LLC acquired a new stake in shares of Biodesix during the 3rd quarter worth approximately $113,000. Finally, DRW Securities LLC bought a new stake in shares of Biodesix in the 4th quarter valued at $105,000. Institutional investors and hedge funds own 20.96% of the company’s stock.

Biodesix Price Performance

Shares of NASDAQ:BDSX opened at $24.00 on Friday. The company has a quick ratio of 2.85, a current ratio of 2.85 and a debt-to-equity ratio of 5.12. Biodesix, Inc. has a twelve month low of $5.26 and a twelve month high of $25.52. The stock’s 50 day moving average is $20.50 and its 200-day moving average is $16.19. The firm has a market capitalization of $253.20 million, a price-to-earnings ratio of -7.57 and a beta of 0.56.

Biodesix (NASDAQ:BDSX) last issued its earnings results on Wednesday, August 5th. The company reported ($0.71) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.90) by $0.19. Biodesix had a negative return on equity of 788.19% and a negative net margin of 26.97%.The company had revenue of $26.86 million for the quarter, compared to analysts’ expectations of $26.03 million. Sell-side analysts forecast that Biodesix, Inc. will post -2.68 EPS for the current fiscal year.

Insiders Place Their Bets

In other Biodesix news, Director Jack W. Schuler acquired 15,000 shares of the company’s stock in a transaction on Wednesday, August 12th. The shares were purchased at an average cost of $24.47 per share, with a total value of $367,050.00. Following the completion of the purchase, the director owned 555,810 shares of the company’s stock, valued at approximately $13,600,670.70. This represents a 2.77% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have acquired a total of 42,600 shares of company stock worth $1,033,062 in the last 90 days. Corporate insiders own 23.20% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on BDSX shares. Canaccord Genuity Group raised their price target on shares of Biodesix from $27.00 to $35.00 and gave the stock a “buy” rating in a report on Monday, August 10th. Weiss Ratings upgraded shares of Biodesix from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, June 12th. Roth Capital started coverage on shares of Biodesix in a research report on Wednesday, June 24th. They set a “buy” rating and a $32.00 price objective on the stock. Finally, HC Wainwright restated a “buy” rating and issued a $27.00 target price (up from $26.00) on shares of Biodesix in a research note on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Biodesix presently has a consensus rating of “Moderate Buy” and an average target price of $31.33.

About Biodesix

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.