Biodesix, Inc. (NASDAQ:BDSX) Given Consensus Recommendation of "Buy" by Analysts

Shares of Biodesix, Inc. (NASDAQ:BDSX - Get Free Report) have received an average recommendation of "Buy" from the five ratings firms that are presently covering the firm, Marketbeat Ratings reports. Five research analysts have rated the stock with a buy recommendation. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $2.83.

Several research analysts have recently issued reports on BDSX shares. Canaccord Genuity Group decreased their target price on Biodesix from $3.50 to $2.50 and set a "buy" rating for the company in a research report on Tuesday, April 29th. William Blair reissued an "outperform" rating on shares of Biodesix in a research report on Tuesday, March 4th.

Biodesix Trading Down 1.5 %

Shares of Biodesix stock traded down $0.01 during midday trading on Tuesday, reaching $0.52. 242,794 shares of the company's stock traded hands, compared to its average volume of 310,122. The stock has a 50 day moving average of $0.66 and a 200-day moving average of $1.07. Biodesix has a 12 month low of $0.45 and a 12 month high of $2.04. The company has a market cap of $75.86 million, a PE ratio of -1.33 and a beta of 1.17. 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 - Get Free Report) last posted its earnings results on Monday, March 3rd. The company reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.07) by $0.01. Biodesix had a negative net margin of 66.84% and a negative return on equity of 275.79%. The firm had revenue of $20.43 million during the quarter, compared to analysts' expectations of $19.92 million. As a group, equities analysts expect that Biodesix will post -0.35 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Scott Hutton sold 83,660 shares of Biodesix stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $0.92, for a total value of $76,967.20. Following the completion of the transaction, the chief executive officer now owns 701,947 shares of the company's stock, valued at $645,791.24. The trade was a 10.65 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Over the last three months, insiders have sold 128,702 shares of company stock valued at $118,406. 69.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Balyasny Asset Management L.P. purchased a new position in Biodesix in the 4th quarter worth approximately $29,000. Barclays PLC lifted its holdings in shares of Biodesix by 1,140.5% during the third quarter. Barclays PLC now owns 23,036 shares of the company's stock valued at $41,000 after purchasing an additional 21,179 shares in the last quarter. Boothbay Fund Management LLC purchased a new stake in shares of Biodesix during the fourth quarter valued at $52,000. MYDA Advisors LLC purchased a new stake in shares of Biodesix during the fourth quarter valued at $76,000. Finally, Cubist Systematic Strategies LLC raised its position in Biodesix by 385.9% in the 4th quarter. Cubist Systematic Strategies LLC now owns 51,024 shares of the company's stock worth $78,000 after buying an additional 40,524 shares during the last quarter. 20.96% of the stock is owned by hedge funds and other institutional investors.

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.