Biodesix (NASDAQ:BDSX) Director Jack Schuler Buys 15,000 Shares of Stock

Key Points

• Director Jack Schuler purchased 15,000 Biodesix shares at an average price of $24.47, investing $367,050 and increasing his direct ownership to 555,810 shares.
• Biodesix shares fell 1.8% to $23.79 in mid-day trading, despite the company beating quarterly earnings and revenue estimates; it remains unprofitable with analysts forecasting a full-year loss.
• Analyst sentiment is broadly positive, with a consensus “Moderate Buy” rating and an average price target of $31.33, while institutional investors own about 20.96% of the stock.

Biodesix, Inc. (NASDAQ:BDSX - Get Free Report) Director Jack Schuler purchased 15,000 shares of Biodesix stock in a transaction on Wednesday, August 12th. The shares were acquired at an average price of $24.47 per share, for a total transaction of $367,050.00. Following the completion of the transaction, the director directly owned 555,810 shares of the company's stock, valued at approximately $13,600,670.70. The trade was a 2.77% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Biodesix Trading Down 1.8%

Shares of BDSX traded down $0.43 during mid-day trading on Thursday, reaching $23.79. The company's stock had a trading volume of 49,855 shares, compared to its average volume of 626,441. The stock has a market cap of $250.98 million, a PE ratio of -7.50 and a beta of 0.56. The company has a current ratio of 2.85, a quick ratio of 2.85 and a debt-to-equity ratio of 5.12. Biodesix, Inc. has a 52 week low of $5.26 and a 52 week high of $25.52. The company's fifty day moving average price is $20.19 and its two-hundred day moving average price is $16.05.

Biodesix (NASDAQ:BDSX - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The company reported ($0.71) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.90) by $0.19. The company had revenue of $26.86 million during the quarter, compared to analysts' expectations of $26.03 million. Biodesix had a negative net margin of 26.97% and a negative return on equity of 788.19%. On average, analysts predict that Biodesix, Inc. will post -2.68 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Canaccord Genuity Group lifted their price objective on Biodesix from $27.00 to $35.00 and gave the stock a "buy" rating in a report on Monday. Weiss Ratings upgraded Biodesix from a "sell (e+)" rating to a "sell (d-)" rating in a report on Friday, June 12th. Roth Capital started coverage on Biodesix in a research report on Wednesday, June 24th. They set a "buy" rating and a $32.00 price target on the stock. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $27.00 price target (up from $26.00) on shares of Biodesix in a research note on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $31.33.

Institutional Trading of Biodesix

Several large investors have recently modified their holdings of the business. XTX Topco Ltd raised its position in 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 purchasing an additional 102,494 shares during the last quarter. Millennium Management LLC bought a new stake in shares of Biodesix in the 3rd quarter worth approximately $113,000. Geode Capital Management LLC increased its stake in shares of Biodesix by 5.6% during the fourth quarter. Geode Capital Management LLC now owns 42,453 shares of the company's stock valued at $289,000 after buying an additional 2,235 shares during the period. Monashee Investment Management LLC increased its stake in shares of Biodesix by 12.3% during the fourth quarter. Monashee Investment Management LLC now owns 112,344 shares of the company's stock valued at $764,000 after buying an additional 12,348 shares during the period. Finally, DRW Securities LLC bought a new position in shares of Biodesix during the fourth quarter valued at approximately $105,000. 20.96% of the stock is owned by institutional investors.

Biodesix Company Profile

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.

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