Sio Capital Management LLC Sells 9,341 Shares of Biodesix, Inc. (NASDAQ:BDSX)

Sio Capital Management LLC cut its holdings in shares of Biodesix, Inc. (NASDAQ:BDSX) by 0.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,338,514 shares of the company’s stock after selling 9,341 shares during the quarter. Biodesix makes up 3.1% of Sio Capital Management LLC’s investment portfolio, making the stock its 12th largest holding. Sio Capital Management LLC’s holdings in Biodesix were worth $7,723,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in BDSX. AIGH Capital Management LLC increased its holdings in Biodesix by 74.0% during the second quarter. AIGH Capital Management LLC now owns 5,779,812 shares of the company’s stock worth $8,843,000 after buying an additional 2,458,727 shares during the last quarter. Farallon Capital Management LLC purchased a new stake in shares of Biodesix during the 2nd quarter worth approximately $2,874,000. CVI Holdings LLC purchased a new stake in shares of Biodesix during the 2nd quarter worth approximately $59,000. Perceptive Advisors LLC bought a new stake in shares of Biodesix in the 2nd quarter worth approximately $3,326,000. Finally, Perkins Capital Management Inc. lifted its stake in Biodesix by 74.7% in the third quarter. Perkins Capital Management Inc. now owns 724,782 shares of the company’s stock valued at $1,290,000 after purchasing an additional 310,000 shares during the last quarter. 20.96% of the stock is currently owned by institutional investors.

Biodesix Stock Down 0.7 %

Shares of BDSX stock opened at $1.43 on Friday. The firm’s 50 day moving average is $1.54 and its 200 day moving average is $1.61. Biodesix, Inc. has a 12 month low of $1.11 and a 12 month high of $2.21. The company has a debt-to-equity ratio of 1.30, a quick ratio of 3.40 and a current ratio of 3.40.

Biodesix (NASDAQ:BDSX) last issued its earnings results on Friday, November 1st. The company reported ($0.07) EPS for the quarter, hitting the consensus estimate of ($0.07). Biodesix had a negative return on equity of 275.79% and a negative net margin of 66.84%. The business had revenue of $18.15 million during the quarter, compared to the consensus estimate of $18.45 million. During the same quarter last year, the company earned ($0.12) EPS. As a group, research analysts expect that Biodesix, Inc. will post -0.35 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Scotiabank initiated coverage on Biodesix in a research report on Monday, September 16th. They issued a “sector outperform” rating and a $3.00 target price for the company. Five research analysts have rated the stock with a buy rating, According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of $3.06.

Insiders Place Their Bets

In other Biodesix news, Director Jack W. Schuler purchased 200,000 shares of the stock in a transaction on Wednesday, November 20th. The shares were purchased at an average price of $1.17 per share, with a total value of $234,000.00. Following the acquisition, the director now directly owns 31,094,935 shares in the company, valued at approximately $36,381,073.95. The trade was a 0.65 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman John Patience purchased 75,000 shares of the company’s stock in a transaction dated Tuesday, November 5th. The shares were acquired at an average price of $1.38 per share, with a total value of $103,500.00. Following the transaction, the chairman now owns 2,153,298 shares in the company, valued at approximately $2,971,551.24. The trade was a 3.61 % increase in their position. The disclosure for this purchase can be found here. Insiders have bought 315,000 shares of company stock worth $393,500 in the last three months. 69.20% of the stock is currently owned by corporate insiders.

Biodesix Profile

Biodesix, Inc operates as a data-driven diagnostic solutions company in the United States. The company offers blood-based lung tests, including Nodify XL2 and Nodify CDT tests, together marketed as part of Nodify Lung Nodule Risk Assessment testing strategy, to assess the risk of lung cancer and help in identifying the appropriate treatment pathway and help physicians in reclassifying risk of malignancy in patients with suspicious lung nodules.