Biodesix, Inc. (NASDAQ:BDSX) Receives Consensus Rating of “Moderate Buy” from Analysts

Biodesix, Inc. (NASDAQ:BDSX) has been assigned an average recommendation of “Moderate Buy” from the six research firms that are presently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell rating and five have issued a buy rating on the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $32.50.

BDSX has been the subject of a number of analyst reports. Canaccord Genuity Group reiterated a “buy” rating and set a $20.00 price objective on shares of Biodesix in a report on Tuesday, February 17th. William Blair raised Biodesix from a “market perform” rating to an “outperform” rating in a report on Friday, February 27th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Biodesix in a research note on Monday, December 22nd.

Insiders Place Their Bets

In other news, CEO Scott Hutton sold 3,559 shares of the firm’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 directly owned 45,413 shares in the company, valued at $457,763.04. This trade represents a 7.27% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jack W. Schuler acquired 20,000 shares of the stock in a transaction dated Monday, January 26th. The stock was bought at an average cost of $11.80 per share, with a total value of $236,000.00. Following the completion of the purchase, the director directly owned 1,563,210 shares in the company, valued at approximately $18,445,878. The trade was a 1.30% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last quarter, insiders have purchased 182,465 shares of company stock valued at $2,084,616 and have sold 10,999 shares valued at $116,095. Corporate insiders own 30.10% of the company’s stock.

Institutional Trading of Biodesix

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Cetera Investment Advisers purchased a new stake in Biodesix during the 4th quarter worth about $68,000. Millennium Management LLC purchased a new position in shares of Biodesix in the 3rd quarter valued at about $113,000. DRW Securities LLC acquired a new stake in shares of Biodesix during the 4th quarter worth about $105,000. Geode Capital Management LLC raised its position in shares of 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 acquiring an additional 2,235 shares in the last quarter. Finally, Trexquant Investment LP purchased a new stake in Biodesix during the fourth quarter worth approximately $187,000. 20.96% of the stock is owned by hedge funds and other institutional investors.

Biodesix Stock Performance

Shares of BDSX opened at $15.07 on Wednesday. The firm’s fifty day simple moving average is $13.82 and its two-hundred day simple moving average is $9.73. Biodesix has a 12 month low of $3.44 and a 12 month high of $20.21. The stock has a market capitalization of $148.59 million, a P/E ratio of -3.11 and a beta of 0.57.

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