Monashee Investment Management LLC Cuts Holdings in Biodesix, Inc. $BDSX

Monashee Investment Management LLC lowered its position in Biodesix, Inc. (NASDAQ:BDSX) by 95.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 99,996 shares of the company’s stock after selling 1,900,004 shares during the quarter. Monashee Investment Management LLC owned 1.26% of Biodesix worth $755,000 as of its most recent filing with the Securities and Exchange Commission.

Separately, XTX Topco Ltd increased its stake 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 acquiring an additional 102,494 shares during the last quarter. 20.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Biodesix in a research note on Monday, December 22nd. Wall Street Zen upgraded shares of Biodesix from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Canaccord Genuity Group reiterated a “buy” rating and set a $20.00 price objective on shares of Biodesix in a research note on Tuesday, February 17th. Finally, William Blair raised shares of Biodesix from a “market perform” rating to an “outperform” rating in a research report on Friday. Five equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $32.50.

Insider Buying and Selling at Biodesix

In other news, Director Jack W. Schuler acquired 82,465 shares of the firm’s stock in a transaction on Thursday, January 22nd. The stock was bought at an average cost of $10.96 per share, with a total value of $903,816.40. Following the transaction, the director directly owned 1,463,210 shares in the company, valued at approximately $16,036,781.60. This represents a 5.97% increase in their position. The acquisition 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 firm’s stock in a transaction dated Tuesday, February 10th. The shares were 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 represents a 7.27% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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.

Biodesix Stock Performance

Shares of NASDAQ:BDSX opened at $15.33 on Friday. The business’s 50-day simple moving average is $9.55 and its 200 day simple moving average is $8.37. The company has a market cap of $122.03 million, a P/E ratio of -3.16 and a beta of 0.67. The company has a debt-to-equity ratio of 41.11, a quick ratio of 1.84 and a current ratio of 1.84. Biodesix, Inc. has a one year low of $3.44 and a one year high of $19.13.

Biodesix (NASDAQ:BDSX) last issued its quarterly earnings data on Thursday, February 26th. The company reported ($0.49) earnings per share (EPS) 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 the consensus estimate of $26.25 million. Biodesix had a negative net margin of 39.85% and a negative return on equity of 1,009.88%. On average, sell-side analysts forecast that Biodesix, Inc. will post -0.35 earnings per share for the current fiscal year.

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.