Biodesix (NASDAQ:BDSX) Rating Increased to Hold at Wall Street Zen

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

BDSX has been the subject of several other reports. Weiss Ratings reissued a “sell (e+)” rating on shares of Biodesix in a research note on Wednesday, October 8th. Canaccord Genuity Group set a $20.00 price objective on Biodesix and gave the stock a “buy” rating in a report on Friday, September 19th. Four analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $32.50.

Biodesix Price Performance

Shares of Biodesix stock traded down $0.06 during trading on Friday, hitting $7.73. 51,848 shares of the stock traded hands, compared to its average volume of 313,924. The company has a quick ratio of 2.14, a current ratio of 1.84 and a debt-to-equity ratio of 41.11. The stock has a market cap of $61.53 million, a price-to-earnings ratio of -1.39 and a beta of 0.98. The firm’s fifty day moving average is $7.54 and its 200-day moving average is $7.35. Biodesix has a 52 week low of $3.44 and a 52 week high of $32.20.

Biodesix (NASDAQ:BDSX) last posted its quarterly earnings results on Monday, November 3rd. The company reported ($1.16) EPS for the quarter, topping the consensus estimate of ($1.60) by $0.44. The firm had revenue of $21.77 million for the quarter, compared to the consensus estimate of $20.98 million. Biodesix had a negative net margin of 49.31% and a negative return on equity of 504.41%. Biodesix has set its FY 2025 guidance at EPS. Research analysts expect that Biodesix will post -0.35 EPS for the current fiscal year.

Insider Activity at Biodesix

In other news, Director Jack W. Schuler bought 174,418 shares of the company’s stock in a transaction dated Friday, August 29th. The stock was bought at an average cost of $8.60 per share, for a total transaction of $1,499,994.80. Following the completion of the acquisition, the director owned 1,220,327 shares in the company, valued at approximately $10,494,812.20. This trade represents a 16.68% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Over the last ninety days, insiders have bought 334,836 shares of company stock worth $2,611,362 and have sold 293 shares worth $2,461. Company insiders own 30.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. XTX Topco Ltd lifted its holdings in Biodesix by 99.4% in the 2nd quarter. XTX Topco Ltd now owns 205,647 shares of the company’s stock worth $58,000 after buying an additional 102,494 shares during the period. Blair William & Co. IL raised its holdings in shares of Biodesix by 33.3% during the first quarter. Blair William & Co. IL now owns 124,100 shares of the company’s stock valued at $78,000 after acquiring an additional 31,000 shares in the last quarter. Monashee Investment Management LLC raised its holdings in shares of Biodesix by 15.7% during the first quarter. Monashee Investment Management LLC now owns 4,050,000 shares of the company’s stock valued at $2,532,000 after acquiring an additional 549,121 shares in the last quarter. Finally, Birchview Capital LP lifted its stake in Biodesix by 2.8% in the first quarter. Birchview Capital LP now owns 5,736,113 shares of the company’s stock worth $3,586,000 after acquiring an additional 154,937 shares during the period. Institutional investors own 20.96% of the company’s stock.

About Biodesix

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.