Biodesix (NASDAQ:BDSX) Stock Rating Upgraded by Wall Street Zen

Wall Street Zen upgraded shares of Biodesix (NASDAQ:BDSX) to a sell rating in a report published on Saturday.

Separately, Scotiabank decreased their target price on shares of Biodesix from $60.00 to $40.00 and set a “sector outperform” rating for the company in a research note on Wednesday, May 21st. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, Biodesix has a consensus rating of “Moderate Buy” and a consensus target price of $35.00.

Biodesix Stock Performance

NASDAQ BDSX opened at $7.60 on Friday. Biodesix has a fifty-two week low of $3.44 and a fifty-two week high of $37.00. The company has a debt-to-equity ratio of 41.11, a quick ratio of 2.14 and a current ratio of 2.14. The firm has a market capitalization of $1.11 billion, a P/E ratio of -26.21 and a beta of 1.00. The stock has a 50-day simple moving average of $7.95 and a two-hundred day simple moving average of $9.07.

Biodesix (NASDAQ:BDSX) last announced its quarterly earnings results on Thursday, August 7th. The company reported ($1.60) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.40) by ($0.20). Biodesix had a negative net margin of 53.66% and a negative return on equity of 269.67%. The company had revenue of $20.02 million during the quarter, compared to analyst estimates of $18.47 million. Biodesix has set its FY 2025 guidance at EPS. On average, equities analysts forecast that Biodesix will post -0.35 earnings per share for the current year.

Insider Buying and Selling at Biodesix

In related news, Director Jack W. Schuler purchased 174,418 shares of the company’s stock in a transaction dated Friday, August 29th. The stock was acquired at an average cost of $8.60 per share, for a total transaction of $1,499,994.80. Following the completion of the transaction, the director directly owned 1,220,327 shares of the company’s stock, valued at approximately $10,494,812.20. This trade represents a 16.68% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In the last 90 days, insiders sold 293 shares of company stock worth $2,461. Insiders own 30.10% of the company’s stock.

Institutional Investors Weigh In On Biodesix

A number of hedge funds have recently modified their holdings of BDSX. Balyasny Asset Management L.P. purchased a new position in Biodesix during the fourth quarter worth about $29,000. XTX Topco Ltd raised its position in shares of Biodesix by 99.4% during the 2nd quarter. XTX Topco Ltd now owns 205,647 shares of the company’s stock valued at $58,000 after buying an additional 102,494 shares during the period. Cubist Systematic Strategies LLC lifted its holdings in Biodesix by 385.9% in the fourth quarter. Cubist Systematic Strategies LLC now owns 51,024 shares of the company’s stock valued at $78,000 after acquiring an additional 40,524 shares during the last quarter. Blair William & Co. IL grew its position in Biodesix by 33.3% in the first quarter. Blair William & Co. IL now owns 124,100 shares of the company’s stock worth $78,000 after acquiring an additional 31,000 shares during the period. Finally, Jane Street Group LLC acquired a new stake in Biodesix during the fourth quarter worth $119,000. Hedge funds and other institutional investors own 20.96% of the company’s stock.

Biodesix Company 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.