Biodesix (NASDAQ:BDSX) Shares Gap Down - What's Next?

Key Points

• Biodesix shares gapped down to $7.25 at market open on Monday, following a previous close of $7.50, and last traded at $7.52 with a volume of 28,873 shares.
• Analysts have set a consensus rating of "Moderate Buy" for Biodesix, with an average target price of $35.00, despite a significant cut from Scotiabank from $60.00 to $40.00.
• Insider trading activity includes Director Jack W. Schuler purchasing 174,418 shares at an average price of $8.60, increasing his ownership stake by 16.68%.

Biodesix, Inc. (NASDAQ:BDSX - Get Free Report) shares gapped down prior to trading on Monday . The stock had previously closed at $7.50, but opened at $7.25. Biodesix shares last traded at $7.52, with a volume of 28,873 shares trading hands.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Scotiabank cut their price objective on shares of Biodesix from $60.00 to $40.00 and set a "sector outperform" rating on the stock in a research report on Wednesday, May 21st. Wall Street Zen raised shares of Biodesix to a "sell" rating in a research report on Saturday. Four research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Biodesix has a consensus rating of "Moderate Buy" and an average target price of $35.00.

Biodesix Stock Down 0.6%

The company has a current ratio of 2.14, a quick ratio of 2.14 and a debt-to-equity ratio of 41.11. The firm's 50 day simple moving average is $7.90 and its 200-day simple moving average is $9.13. The stock has a market capitalization of $1.09 billion, a price-to-earnings ratio of -25.71 and a beta of 1.00.

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

Insider Buying and Selling at Biodesix

In other news, Director Jack W. Schuler acquired 174,418 shares of the stock in a transaction dated Friday, August 29th. The shares were bought at an average cost of $8.60 per share, for a total transaction of $1,499,994.80. Following the purchase, 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last quarter, insiders have sold 293 shares of company stock worth $2,461. 30.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Birchview Capital LP grew its position in shares of Biodesix by 2.8% during the 1st quarter. Birchview Capital LP now owns 5,736,113 shares of the company's stock worth $3,586,000 after purchasing an additional 154,937 shares in the last quarter. Monashee Investment Management LLC grew its position in shares of Biodesix by 15.7% during the 1st quarter. Monashee Investment Management LLC now owns 4,050,000 shares of the company's stock worth $2,532,000 after purchasing an additional 549,121 shares in the last quarter. XTX Topco Ltd grew 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 worth $58,000 after purchasing an additional 102,494 shares in the last quarter. Millennium Management LLC grew its position in shares of Biodesix by 20.2% during the 4th quarter. Millennium Management LLC now owns 198,671 shares of the company's stock worth $304,000 after purchasing an additional 33,329 shares in the last quarter. Finally, Northern Trust Corp grew its position in shares of Biodesix by 286.5% during the 4th quarter. Northern Trust Corp now owns 169,132 shares of the company's stock worth $259,000 after purchasing an additional 125,368 shares in the last quarter. 20.96% of the stock is currently owned by institutional investors and hedge funds.

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.

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