Biodesix (NASDAQ:BDSX) Director Jack Schuler Purchases 13,700 Shares of Stock

Key Points

• Director Jack Schuler purchased 13,700 Biodesix shares at an average price of $24.01, investing approximately $328,937. His direct holdings rose 2.6% to 540,810 shares.
• Biodesix reported quarterly revenue of $26.86 million and an adjusted loss of $0.71 per share, beating analyst estimates of $26.03 million in revenue and a $0.90-per-share loss.
• Analyst sentiment remains favorable, with a consensus “Moderate Buy” rating and an average price target of $31.33, compared with the stock’s recent price of $24.22.

Biodesix, Inc. (NASDAQ:BDSX - Get Free Report) Director Jack Schuler bought 13,700 shares of the company's stock in a transaction dated Tuesday, August 11th. The shares were acquired at an average cost of $24.01 per share, with a total value of $328,937.00. Following the acquisition, the director directly owned 540,810 shares of the company's stock, valued at approximately $12,984,848.10. This represents a 2.60% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Biodesix Price Performance

Shares of NASDAQ BDSX traded down $0.09 during mid-day trading on Wednesday, reaching $24.22. The company's stock had a trading volume of 90,916 shares, compared to its average volume of 630,207. The stock has a 50-day moving average of $20.02 and a two-hundred day moving average of $15.96. The company has a debt-to-equity ratio of 5.12, a quick ratio of 2.85 and a current ratio of 2.85. The stock has a market capitalization of $255.55 million, a P/E ratio of -7.64 and a beta of 0.56. Biodesix, Inc. has a 1-year low of $5.26 and a 1-year high of $25.52.

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

Institutional Investors Weigh In On Biodesix

Several hedge funds and other institutional investors have recently bought and sold shares of BDSX. Cetera Investment Advisers raised its position in shares of Biodesix by 20.0% during the 1st quarter. Cetera Investment Advisers now owns 12,000 shares of the company's stock valued at $174,000 after buying an additional 2,000 shares during the period. Geode Capital Management LLC grew its position in Biodesix by 5.6% in the fourth 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 during the period. State Street Corp increased its stake in Biodesix by 15.6% during the fourth quarter. State Street Corp now owns 17,802 shares of the company's stock worth $121,000 after acquiring an additional 2,400 shares during the last quarter. Allworth Financial LP purchased a new stake in Biodesix in the second quarter valued at $112,000. Finally, Walleye Capital LLC purchased a new stake in Biodesix in the first quarter valued at $157,000. 20.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

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.

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