Wall Street Zen Upgrades Biodesix (NASDAQ:BDSX) to "Sell"

Key Points

• Biodesix has been upgraded to a "sell" rating by Wall Street Zen, while Scotiabank lowered its price target from $3.00 to $2.00.
• The company's recent earnings report showed a loss of $0.08 per share, missing the consensus estimate and highlighting a negative net margin of 53.66%.
• Director Jack W. Schuler purchased nearly 3.5 million shares of the company, increasing his ownership stake significantly, while insiders control about 30.10% of Biodesix's stock.

Wall Street Zen upgraded shares of Biodesix (NASDAQ:BDSX - Free Report) to a sell rating in a report issued on Saturday morning.

Separately, Scotiabank lowered their price target on Biodesix from $60.00 to $40.00 and set a "sector outperform" rating for the company in a report on Wednesday, May 21st. Four equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $35.00.

Biodesix Trading Up 1.3%

Shares of NASDAQ BDSX traded up $0.10 during trading on Friday, hitting $7.60. 192,445 shares of the company were exchanged, compared to its average volume of 5,958,987. Biodesix has a 12-month low of $3.44 and a 12-month high of $37.00. The company has a debt-to-equity ratio of 41.11, a quick ratio of 2.14 and a current ratio of 2.14. The company has a fifty day moving average price of $7.95 and a 200-day moving average price of $9.07. The firm has a market capitalization of $1.11 billion, a PE ratio of -26.21 and a beta of 1.00.

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

Insiders Place Their Bets

In related news, Director Jack W. Schuler purchased 174,418 shares of Biodesix stock in a transaction that occurred on Friday, August 29th. The stock was purchased at an average cost of $8.60 per share, with a total value of $1,499,994.80. Following the completion of the transaction, the director directly owned 1,220,327 shares in the company, valued at approximately $10,494,812.20. The trade was a 16.68% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold 293 shares of company stock valued at $2,461 over the last three months. 30.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Balyasny Asset Management L.P. purchased a new position in Biodesix during the 4th quarter worth $29,000. Blair William & Co. IL grew its position in Biodesix by 33.3% during the 1st quarter. Blair William & Co. IL now owns 124,100 shares of the company's stock worth $78,000 after purchasing an additional 31,000 shares during the last quarter. Millennium Management LLC grew its position in 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 during the last quarter. Cubist Systematic Strategies LLC grew its position in Biodesix by 385.9% during the 4th quarter. Cubist Systematic Strategies LLC now owns 51,024 shares of the company's stock worth $78,000 after purchasing an additional 40,524 shares during the last quarter. Finally, Jane Street Group LLC purchased a new position in Biodesix during the 4th quarter worth $119,000. 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.