Biodesix Shares 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.

Shares of Biodesix, Inc. (NASDAQ:BDSX - Free Report) are scheduled to reverse split 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 13.7%

Shares of BDSX stock traded down $1.04 on Tuesday, hitting $6.56. The stock had a trading volume of 260,827 shares, compared to its average volume of 305,031. 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 business has a 50 day moving average of $7.96 and a 200 day moving average of $9.05. Biodesix has a 12-month low of $3.44 and a 12-month high of $37.00. The stock has a market cap of $48.08 million, a price-to-earnings ratio of -1.13 and a beta of 1.00.

Biodesix (NASDAQ:BDSX - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported ($1.60) earnings per share 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 firm 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, analysts expect that Biodesix will post -0.35 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on BDSX. Scotiabank decreased their price objective on shares of Biodesix from $60.00 to $40.00 and set a "sector outperform" rating for the company in a report on Wednesday, May 21st. Wall Street Zen upgraded Biodesix to a "sell" rating in a research note on Saturday. 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, Biodesix has an average rating of "Moderate Buy" and a consensus price target of $35.00.

Insider Activity

In related news, Director Jack W. Schuler acquired 174,418 shares of the firm's stock in a transaction that occurred on 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 owned 1,220,327 shares in the company, valued at $10,494,812.20. This trade represents a 16.68% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In the last 90 days, insiders sold 293 shares of company stock worth $2,461. Insiders own 30.10% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Balyasny Asset Management L.P. bought a new stake in Biodesix during the fourth quarter valued at $29,000. XTX Topco Ltd raised its holdings in shares of Biodesix by 99.4% in the 2nd quarter. XTX Topco Ltd now owns 205,647 shares of the company's stock valued at $58,000 after acquiring an additional 102,494 shares in the last quarter. Blair William & Co. IL raised its holdings in shares of Biodesix by 33.3% in the 1st quarter. Blair William & Co. IL now owns 124,100 shares of the company's stock valued at $78,000 after acquiring an additional 31,000 shares in the last quarter. Cubist Systematic Strategies LLC boosted its position in shares of Biodesix by 385.9% during the 4th quarter. Cubist Systematic Strategies LLC now owns 51,024 shares of the company's stock valued at $78,000 after acquiring an additional 40,524 shares during the last quarter. Finally, Jane Street Group LLC purchased a new position in shares of Biodesix during 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.