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

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.

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

Biodesix Price Performance

BDSX stock traded up $0.52 during midday trading on Friday, reaching $6.73. The company had a trading volume of 141,006 shares, compared to its average volume of 328,317. The company has a debt-to-equity ratio of 41.11, a current ratio of 2.14 and a quick ratio of 2.14. The company has a market capitalization of $49.33 million, a price-to-earnings ratio of -1.16 and a beta of 1.00. Biodesix has a 1-year low of $3.44 and a 1-year high of $37.00. The stock has a 50 day moving average price of $7.97 and a 200-day moving average price of $8.98.

Biodesix (NASDAQ:BDSX - Get Free Report) last issued its 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). The business had revenue of $20.02 million for the quarter, compared to analyst estimates of $18.47 million. Biodesix had a negative return on equity of 269.67% and a negative net margin of 53.66%. Biodesix has set its FY 2025 guidance at EPS. Equities research analysts expect that Biodesix will post -0.35 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Jack W. Schuler bought 174,418 shares of the firm's stock in a transaction on Friday, August 29th. The stock was acquired at an average price of $8.60 per share, with a total value of $1,499,994.80. Following the transaction, the director owned 1,220,327 shares of the company's stock, valued at $10,494,812.20. This trade represents a 16.68% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last three months, insiders have sold 293 shares of company stock worth $2,461. Corporate insiders own 30.10% of the company's stock.

Institutional Trading of Biodesix

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BDSX. Monashee Investment Management LLC increased its position in Biodesix by 15.7% during the 1st quarter. Monashee Investment Management LLC now owns 4,050,000 shares of the company's stock valued at $2,532,000 after purchasing an additional 549,121 shares during the period. Shay Capital LLC acquired a new stake in Biodesix during the 4th quarter valued at approximately $431,000. Birchview Capital LP increased its position in Biodesix by 2.8% during the 1st quarter. Birchview Capital LP now owns 5,736,113 shares of the company's stock valued at $3,586,000 after purchasing an additional 154,937 shares during the period. Northern Trust Corp increased its position in Biodesix by 286.5% during the 4th quarter. Northern Trust Corp now owns 169,132 shares of the company's stock valued at $259,000 after purchasing an additional 125,368 shares during the period. Finally, XTX Topco Ltd acquired a new stake in Biodesix during the 1st quarter valued at approximately $64,000. Institutional investors and hedge funds own 20.96% of the company's stock.

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.