Allworth Financial LP Reduces Holdings in Biodesix, Inc. $BDSX

Allworth Financial LP reduced its stake in shares of Biodesix, Inc. (NASDAQ:BDSX) by 95.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,965 shares of the company’s stock after selling 94,366 shares during the period. Allworth Financial LP owned 0.06% of Biodesix worth $37,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. XTX Topco Ltd increased its position in Biodesix by 99.4% during the second quarter. XTX Topco Ltd now owns 205,647 shares of the company’s stock worth $58,000 after buying an additional 102,494 shares in the last quarter. Millennium Management LLC acquired a new stake in shares of Biodesix during the 3rd quarter worth about $113,000. Finally, Oracle Investment Management Inc. purchased a new stake in shares of Biodesix during the third quarter worth about $113,000. Hedge funds and other institutional investors own 20.96% of the company’s stock.

Biodesix Price Performance

Shares of Biodesix stock opened at $14.50 on Wednesday. Biodesix, Inc. has a twelve month low of $3.44 and a twelve month high of $20.21. The stock has a market capitalization of $142.97 million, a P/E 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 business’s fifty day moving average price is $13.60 and its 200 day moving average price is $9.56.

Biodesix (NASDAQ:BDSX) last announced its quarterly earnings results on Thursday, February 26th. The company reported ($0.49) EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $26.25 million. As a group, research analysts anticipate that Biodesix, Inc. will post -0.35 earnings per share for the current year.

Insider Buying and Selling at Biodesix

In related news, CEO Scott Hutton sold 3,559 shares of Biodesix stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $10.08, for a total transaction of $35,874.72. Following the transaction, the chief executive officer owned 45,413 shares in the company, valued at approximately $457,763.04. The trade was a 7.27% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jack W. Schuler purchased 82,465 shares of the firm’s stock in a transaction that occurred on Thursday, January 22nd. The shares were acquired at an average cost of $10.96 per share, with a total value of $903,816.40. Following the completion of the transaction, the director owned 1,463,210 shares in the company, valued at $16,036,781.60. This trade represents a 5.97% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders have purchased 182,465 shares of company stock worth $2,084,616 and have sold 10,999 shares worth $116,095. Insiders own 30.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on BDSX. Weiss Ratings reissued a “sell (e+)” rating on shares of Biodesix in a research report on Monday, December 22nd. William Blair raised Biodesix from a “market perform” rating to an “outperform” rating in a research report on Friday, February 27th. Finally, Canaccord Genuity Group reiterated a “buy” rating and issued a $20.00 target price on shares of Biodesix in a research note on Tuesday, February 17th. Five analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $32.50.

Biodesix 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.