Biodesix (NASDAQ:BDSX) Upgraded by Wall Street Zen to Sell Rating

Biodesix (NASDAQ:BDSX) was upgraded by investment analysts at Wall Street Zen to a “sell” rating in a report issued on Saturday.

Separately, Scotiabank cut their price objective on Biodesix from $3.00 to $2.00 and set a “sector outperform” rating on the stock in a report on Wednesday, May 21st. Four investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $1.75.

Biodesix Price Performance

Biodesix stock opened at $0.38 on Friday. The firm has a market capitalization of $55.00 million, a P/E ratio of -1.29 and a beta of 1.00. Biodesix has a 1 year low of $0.17 and a 1 year high of $1.85. The business has a 50-day moving average of $0.40 and a 200-day moving average of $0.46. The company has a current ratio of 2.14, a quick ratio of 2.14 and a debt-to-equity ratio of 41.11.

Shares of Biodesix are set to reverse split on the morning of Monday, September 15th. The 1-20 reverse split was announced on Thursday, September 11th. The number of shares owned by shareholders will be adjusted after the closing bell on Friday, September 12th.

Biodesix (NASDAQ:BDSX) last posted its earnings results on Thursday, August 7th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.01). The company had revenue of $20.02 million for the quarter, compared to analyst estimates of $18.47 million. Biodesix had a negative return on equity of 269.67% and a negative net margin of 53.66%. Biodesix has set its FY 2025 guidance at EPS. On average, equities analysts anticipate that Biodesix will post -0.35 EPS for the current year.

Insider Buying and Selling

In other news, Director Jack W. Schuler bought 3,488,372 shares of the business’s stock in a transaction on Friday, August 29th. The shares were purchased at an average price of $0.43 per share, for a total transaction of $1,499,999.96. Following the purchase, the director owned 24,406,546 shares of the company’s stock, valued at approximately $10,494,814.78. The trade was a 16.68% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last quarter, insiders sold 5,906 shares of company stock valued at $2,481. Insiders own 30.10% of the company’s stock.

Institutional Investors Weigh In On Biodesix

Several institutional investors have recently bought and sold shares of BDSX. Monashee Investment Management LLC lifted its stake in Biodesix by 15.7% in the 1st quarter. Monashee Investment Management LLC now owns 4,050,000 shares of the company’s stock valued at $2,532,000 after acquiring an additional 549,121 shares in the last quarter. Shay Capital LLC bought a new stake in shares of Biodesix during the 4th quarter worth approximately $431,000. Birchview Capital LP raised its stake in shares of Biodesix by 2.8% during the 1st quarter. Birchview Capital LP now owns 5,736,113 shares of the company’s stock worth $3,586,000 after purchasing an additional 154,937 shares in the last quarter. Northern Trust Corp raised its stake in shares of Biodesix by 286.5% during the 4th quarter. Northern Trust Corp now owns 169,132 shares of the company’s stock worth $259,000 after purchasing an additional 125,368 shares in the last quarter. Finally, XTX Topco Ltd bought a new stake in shares of Biodesix during the 1st quarter worth approximately $64,000. Institutional investors own 20.96% of the company’s stock.

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.