Biodesix, Inc. (NASDAQ:BDSX) Given Average Recommendation of “Moderate Buy” by Brokerages

Biodesix, Inc. (NASDAQ:BDSX) has received a consensus recommendation of “Moderate Buy” from the six ratings firms that are currently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation and five have given a buy recommendation to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $32.50.

Several equities research analysts recently commented on BDSX shares. William Blair upgraded Biodesix from a “market perform” rating to an “outperform” rating in a report on Friday, February 27th. Canaccord Genuity Group restated a “buy” rating and issued a $20.00 price target on shares of Biodesix in a report on Tuesday, February 17th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Biodesix in a research note on Monday, December 22nd.

Biodesix Stock Up 5.1%

Shares of Biodesix stock opened at $14.50 on Wednesday. Biodesix has a twelve month low of $3.44 and a twelve month high of $20.21. The stock has a market cap of $142.97 million, a price-to-earnings ratio of -2.99 and a beta of 0.59. The company has a current ratio of 1.87, a quick ratio of 1.86 and a debt-to-equity ratio of 41.11. The company has a fifty day moving average price of $13.60 and a 200 day moving average price of $9.56.

Biodesix (NASDAQ:BDSX) last issued its quarterly earnings data on Thursday, February 26th. The company reported ($0.49) EPS for the quarter, topping analysts’ consensus estimates of ($1.05) by $0.56. Biodesix had a negative return on equity of 1,760.83% and a negative net margin of 39.85%.The company had revenue of $28.76 million for the quarter, compared to analysts’ expectations of $26.25 million. Equities research analysts forecast that Biodesix will post -0.35 earnings per share for the current fiscal year.

Insider Buying and Selling at Biodesix

In other news, Director Jack W. Schuler acquired 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, for a total transaction of $903,816.40. Following the acquisition, the director directly owned 1,463,210 shares of the company’s stock, valued at $16,036,781.60. This represents a 5.97% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Scott Hutton sold 3,559 shares of the business’s stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $10.08, for a total transaction of $35,874.72. Following the completion of the transaction, the chief executive officer owned 45,413 shares in the company, valued at $457,763.04. This represents a 7.27% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders bought 182,465 shares of company stock valued at $2,084,616 and sold 10,999 shares valued at $116,095. 30.10% of the stock is currently owned by corporate insiders.

Institutional Trading of Biodesix

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

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.