Biodesix’s (BDSX) “Buy” Rating Reaffirmed at Canaccord Genuity Group

Canaccord Genuity Group reissued their buy rating on shares of Biodesix (NASDAQ:BDSX) in a report published on Tuesday morning,Benzinga reports. Canaccord Genuity Group currently has a $20.00 target price on the stock.

Other equities research analysts have also recently issued research reports about the stock. Weiss Ratings reiterated a “sell (e+)” rating on shares of Biodesix in a report on Monday, December 22nd. Wall Street Zen raised Biodesix from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Four investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $32.50.

Biodesix Stock Performance

Shares of Biodesix stock opened at $12.78 on Tuesday. Biodesix has a 1 year low of $3.44 and a 1 year high of $20.40. The firm’s 50-day moving average is $8.63 and its 200 day moving average is $8.08. The stock has a market cap of $101.73 million, a price-to-earnings ratio of -2.30 and a beta of 0.67. The company has a debt-to-equity ratio of 41.11, a current ratio of 1.84 and a quick ratio of 1.84.

Insiders Place Their Bets

In other Biodesix news, CEO Scott Hutton sold 3,559 shares of the firm’s stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $10.08, for a total value of $35,874.72. Following the transaction, the chief executive officer directly owned 45,413 shares of the company’s stock, valued at approximately $457,763.04. This trade represents a 7.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Jack W. Schuler purchased 82,465 shares of the business’s stock in a transaction on Thursday, January 22nd. The shares were purchased at an average price of $10.96 per share, with a total value of $903,816.40. Following the completion of the purchase, the director owned 1,463,210 shares in the company, valued at approximately $16,036,781.60. This trade represents a 5.97% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders bought 182,465 shares of company stock worth $2,084,616 and sold 7,672 shares worth $73,576. Company insiders own 30.10% of the company’s stock.

Hedge Funds Weigh In On Biodesix

A number of institutional investors and hedge funds have recently made changes to their positions in BDSX. Cetera Investment Advisers bought a new stake in Biodesix during the fourth quarter valued at approximately $68,000. Millennium Management LLC purchased a new position in shares of Biodesix during the 3rd quarter worth $113,000. Oracle Investment Management Inc. bought a new stake in shares of Biodesix during the 3rd quarter valued at $113,000. DRW Securities LLC purchased a new stake in shares of Biodesix in the 4th quarter worth $105,000. Finally, State Street Corp increased its stake in shares of Biodesix by 15.6% in the 4th quarter. State Street Corp now owns 17,802 shares of the company’s stock worth $121,000 after purchasing an additional 2,400 shares in the last quarter. Hedge funds and other institutional investors own 20.96% of the company’s stock.

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.