Insider Buying: Biodesix (NASDAQ:BDSX) Director Acquires $367,050.00 in Stock

Biodesix, Inc. (NASDAQ:BDSX) Director Jack Schuler purchased 15,000 shares of Biodesix stock in a transaction dated Wednesday, August 12th. The shares were purchased at an average cost of $24.47 per share, for a total transaction of $367,050.00. Following the transaction, the director owned 555,810 shares in the company, valued at approximately $13,600,670.70. This trade represents a 2.77% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Biodesix Stock Performance

Shares of Biodesix stock opened at $24.00 on Friday. The business’s fifty day simple moving average is $20.50 and its 200-day simple moving average is $16.19. Biodesix, Inc. has a 52 week low of $5.26 and a 52 week high of $25.52. The company has a quick ratio of 2.85, a current ratio of 2.85 and a debt-to-equity ratio of 5.12. The firm has a market cap of $253.20 million, a PE ratio of -7.57 and a beta of 0.56.

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

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Cetera Investment Advisers increased its position in Biodesix by 20.0% during the first quarter. Cetera Investment Advisers now owns 12,000 shares of the company’s stock worth $174,000 after buying an additional 2,000 shares in the last quarter. Geode Capital Management LLC increased 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 valued at $289,000 after acquiring an additional 2,235 shares during the last quarter. State Street Corp increased its position in Biodesix by 15.6% during the fourth quarter. State Street Corp now owns 17,802 shares of the company’s stock worth $121,000 after purchasing an additional 2,400 shares during the last quarter. Allworth Financial LP acquired a new stake in shares of Biodesix during the 2nd quarter worth $112,000. Finally, Walleye Capital LLC purchased a new position in shares of Biodesix in the 1st quarter worth about $157,000. 20.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

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.