Biodesix, Inc. (NASDAQ:BDSX) Receives Consensus Rating of “Moderate Buy” from Brokerages

Biodesix, Inc. (NASDAQ:BDSX) has earned a consensus rating of “Moderate Buy” from the six analysts that are currently covering the company, Marketbeat 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 objective among analysts that have covered the stock in the last year is $32.50.

Several analysts have recently commented on BDSX shares. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Biodesix in a research report on Monday, December 22nd. Wall Street Zen upgraded shares of Biodesix from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $20.00 price objective on shares of Biodesix in a research note on Tuesday, February 17th. Finally, William Blair upgraded shares of Biodesix from a “market perform” rating to an “outperform” rating in a report on Friday, February 27th.

Insider Activity at Biodesix

In related news, Director Jack W. Schuler bought 20,000 shares of the business’s stock in a transaction that occurred on Monday, January 26th. The shares were bought at an average price of $11.80 per share, with a total value of $236,000.00. Following the completion of the transaction, the director directly owned 1,563,210 shares in the company, valued at approximately $18,445,878. This represents a 1.30% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Scott Hutton sold 3,559 shares of the company’s stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $10.08, for a total value of $35,874.72. Following the sale, the chief executive officer owned 45,413 shares of the company’s stock, valued at $457,763.04. This trade represents a 7.27% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders bought 182,465 shares of company stock valued at $2,084,616 and sold 10,999 shares valued at $116,095. Corporate insiders own 30.10% of the company’s stock.

Institutional Trading of Biodesix

A number of hedge funds have recently bought and sold shares of the business. XTX Topco Ltd grew its stake in Biodesix by 99.4% in the 2nd quarter. XTX Topco Ltd now owns 205,647 shares of the company’s stock valued at $58,000 after purchasing an additional 102,494 shares during the period. Cetera Investment Advisers bought a new stake in shares of Biodesix during the 4th quarter worth $68,000. DRW Securities LLC bought a new stake in shares of Biodesix during the 4th quarter worth $105,000. Oracle Investment Management Inc. purchased a new position in shares of Biodesix in the 3rd quarter worth about $113,000. Finally, Millennium Management LLC bought a new position in Biodesix during the third quarter valued at about $113,000. 20.96% of the stock is currently owned by institutional investors.

Biodesix Stock Up 18.4%

NASDAQ:BDSX opened at $18.78 on Friday. The company has a debt-to-equity ratio of 41.11, a current ratio of 1.87 and a quick ratio of 1.86. Biodesix has a one year low of $3.44 and a one year high of $18.99. The company has a market cap of $185.17 million, a PE ratio of -3.87 and a beta of 0.59. The firm’s 50 day simple moving average is $10.49 and its 200 day simple moving average is $8.65.

Biodesix (NASDAQ:BDSX) last issued its quarterly earnings results on Thursday, February 26th. The company reported ($0.49) earnings per share for the quarter, beating the consensus estimate of ($1.05) by $0.56. The company had revenue of $28.76 million during the quarter, compared to analysts’ expectations of $26.25 million. Biodesix had a negative return on equity of 1,760.83% and a negative net margin of 39.85%. On average, research analysts anticipate that Biodesix will post -0.35 earnings per share 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.