Biodesix Stock Scheduled to Reverse Split on Monday, September 15th (NASDAQ:BDSX)

Key Points

• Biodesix plans to implement a 1-for-20 reverse stock split on September 15th, which will adjust the number of shares held by shareholders.
• The stock has seen a 20.8% decline, trading at $0.41, with a twelve-month low of $0.17, indicating challenges in its market performance.
• Biodesix's recent earnings report showed a loss of ($0.08) per share, falling short of analyst estimates, though revenue for the quarter was $20.02 million, surpassing expectations.

Biodesix, Inc. (NASDAQ:BDSX - Free Report) shares are scheduled to reverse split before the market opens on Monday, September 15th. The 1-20 reverse split was announced on Thursday, September 11th. The number of shares owned by shareholders will be adjusted after the closing bell on Friday, September 12th.

Biodesix Stock Down 20.8%

BDSX stock traded down $0.11 during trading on Thursday, reaching $0.41. 7,896,319 shares of the stock were exchanged, compared to its average volume of 4,249,118. The firm's 50 day moving average is $0.39 and its 200 day moving average is $0.47. Biodesix has a twelve month low of $0.17 and a twelve month high of $1.86. 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 has a market cap of $60.56 million, a P/E ratio of -1.42 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 ($0.08) earnings per share for the quarter, missing analysts' consensus estimates of ($0.07) by ($0.01). Biodesix had a negative return on equity of 269.67% and a negative net margin of 53.66%.The firm had revenue of $20.02 million for the quarter, compared to analyst estimates of $18.47 million. Biodesix has set its FY 2025 guidance at EPS. As a group, research analysts forecast that Biodesix will post -0.35 EPS for the current year.

Analyst Ratings Changes

A number of analysts recently commented on the company. Canaccord Genuity Group decreased their price target on Biodesix from $2.50 to $1.50 and set a "buy" rating for the company in a research report on Wednesday, May 14th. Lake Street Capital decreased their target price on Biodesix from $3.00 to $2.00 and set a "buy" rating for the company in a research report on Wednesday, May 14th. Craig Hallum decreased their target price on Biodesix from $3.00 to $1.50 and set a "buy" rating for the company in a research report on Wednesday, May 14th. William Blair reissued a "market perform" rating on shares of Biodesix in a research report on Wednesday, May 14th. Finally, Scotiabank decreased their target price on Biodesix from $3.00 to $2.00 and set a "sector outperform" rating for the company in a research report on Wednesday, May 21st. Four research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, Biodesix currently has an average rating of "Moderate Buy" and an average target price of $1.75.

Insider Transactions at Biodesix

In other Biodesix news, Director Jack W. Schuler acquired 3,488,372 shares of the company's stock in a transaction that occurred on Friday, August 29th. The stock was bought at an average price of $0.43 per share, with a total value of $1,499,999.96. Following the completion of the purchase, the director owned 24,406,546 shares of the company's stock, valued at approximately $10,494,814.78. This represents a 16.68% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders sold a total of 5,906 shares of company stock worth $2,481 over the last three months. 30.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Biodesix

Several hedge funds have recently added to or reduced their stakes in the company. Balyasny Asset Management L.P. purchased a new position in shares of Biodesix in the fourth quarter worth about $29,000. XTX Topco Ltd increased its holdings in shares of Biodesix by 99.4% in the second quarter. XTX Topco Ltd now owns 205,647 shares of the company's stock worth $58,000 after buying an additional 102,494 shares during the period. Cubist Systematic Strategies LLC increased its holdings in shares of Biodesix by 385.9% in the fourth quarter. Cubist Systematic Strategies LLC now owns 51,024 shares of the company's stock worth $78,000 after buying an additional 40,524 shares during the period. Blair William & Co. IL increased its holdings in shares of Biodesix by 33.3% in the first quarter. Blair William & Co. IL now owns 124,100 shares of the company's stock worth $78,000 after buying an additional 31,000 shares during the period. Finally, Jane Street Group LLC purchased a new position in shares of Biodesix in the fourth quarter worth about $119,000. Institutional investors 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.