Biodesix, Inc. (NASDAQ:BDSX) Receives $32.50 Average PT from Analysts
by Michael Walen · The Markets DailyShares of Biodesix, Inc. (NASDAQ:BDSX – Get Free Report) have earned a consensus recommendation of “Moderate Buy” from the six research firms that are currently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell recommendation and five have issued a buy recommendation on the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $32.50.
Several equities analysts have recently issued reports on BDSX shares. Weiss Ratings reiterated a “sell (e+)” rating on shares of Biodesix in a research note on Monday, December 22nd. William Blair raised Biodesix from a “market perform” rating to an “outperform” rating in a research note 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 report on Tuesday, February 17th.
Insider Buying and Selling
In related news, Director Jack W. Schuler acquired 20,000 shares of the company’s stock in a transaction that occurred on Monday, January 26th. The stock was acquired at an average price of $11.80 per share, with a total value of $236,000.00. Following the purchase, the director directly owned 1,563,210 shares in the company, valued at approximately $18,445,878. This trade represents a 1.30% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Scott Hutton sold 3,559 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, 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. The disclosure for this sale 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 10,999 shares worth $116,095. Company insiders own 30.10% of the company’s stock.
Institutional Inflows and Outflows
A number of large investors have recently modified their holdings of BDSX. XTX Topco Ltd grew its position in Biodesix by 99.4% during the 2nd quarter. XTX Topco Ltd now owns 205,647 shares of the company’s stock worth $58,000 after acquiring an additional 102,494 shares during the last quarter. Millennium Management LLC acquired a new position in shares of Biodesix in the third quarter valued at approximately $113,000. Oracle Investment Management Inc. bought a new position in Biodesix in the 3rd quarter valued at approximately $113,000. Aberdeen Group plc bought a new position in Biodesix in the 4th quarter valued at approximately $1,784,000. Finally, Geode Capital Management LLC boosted its position in Biodesix by 5.6% during the 4th quarter. Geode Capital Management LLC now owns 42,453 shares of the company’s stock worth $289,000 after buying an additional 2,235 shares during the period. 20.96% of the stock is currently owned by institutional investors.
Biodesix Price Performance
BDSX stock opened at $15.07 on Wednesday. The company’s 50-day moving average price is $13.82 and its two-hundred day moving average price is $9.68. The firm has a market cap of $148.59 million, a P/E ratio of -3.11 and a beta of 0.57. Biodesix has a 12 month low of $3.44 and a 12 month high of $20.21.
Biodesix (NASDAQ:BDSX – Get Free Report) last posted its quarterly earnings results on Thursday, February 26th. The company reported ($0.49) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.05) by $0.56. The business had revenue of $28.76 million for the quarter, compared to analyst estimates of $26.25 million. Biodesix had a negative net margin of 39.85% and a negative return on equity of 1,760.83%. Equities analysts predict that Biodesix will post -0.35 EPS 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.