Biodesix's (BDSX) Sell (E+) Rating Reaffirmed at Weiss Ratings

Key Points

• Biodesix's stock (BDSX) continues to hold a "sell (e+)" rating as reaffirmed by Weiss Ratings, despite mixed ratings from other firms including a "buy" rating from Canaccord Genuity.
• Shares of Biodesix increased by 6.2%, reaching $7.75, with a market cap of $56.81 million and a price-to-earnings ratio of -1.34.
• Insider trading activity shows significant purchases, with Director Jack W. Schuler acquiring 174,418 shares, raising his stake by 16.68%.

Biodesix (NASDAQ:BDSX - Get Free Report)'s stock had its "sell (e+)" rating reissued by Weiss Ratings in a note issued to investors on Wednesday,Weiss Ratings reports.

Several other research firms have also issued reports on BDSX. Canaccord Genuity Group set a $20.00 target price on shares of Biodesix and gave the stock a "buy" rating in a research note on Friday, September 19th. Wall Street Zen upgraded shares of Biodesix to a "sell" rating in a research note on Saturday, September 13th. Four investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $32.50.

Biodesix Trading Up 6.2%

Shares of NASDAQ BDSX traded up $0.45 during midday trading on Wednesday, reaching $7.75. The stock had a trading volume of 46,720 shares, compared to its average volume of 201,669. The firm has a market cap of $56.81 million, a price-to-earnings ratio of -1.34 and a beta of 0.98. Biodesix has a twelve month low of $3.44 and a twelve month high of $34.40. 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's 50 day moving average price is $8.10 and its 200 day moving average price is $8.19.

Biodesix (NASDAQ:BDSX - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported ($1.60) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.40) by ($0.20). Biodesix had a negative net margin of 53.66% and a negative return on equity of 269.67%. The company 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, sell-side analysts expect that Biodesix will post -0.35 EPS for the current year.

Insider Buying and Selling

In other Biodesix news, Director Jack W. Schuler purchased 174,418 shares of Biodesix stock in a transaction on Friday, August 29th. The shares were acquired at an average cost of $8.60 per share, for a total transaction of $1,499,994.80. Following the completion of the transaction, the director directly owned 1,220,327 shares of the company's stock, valued at approximately $10,494,812.20. The trade was a 16.68% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. In the last quarter, insiders have purchased 334,836 shares of company stock worth $2,611,362 and have sold 293 shares worth $2,461. 30.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in BDSX. XTX Topco Ltd bought a new stake in Biodesix in the first quarter valued at $64,000. Blair William & Co. IL boosted its holdings in Biodesix by 33.3% in the first 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. Millennium Management LLC boosted its holdings in Biodesix by 20.2% in the fourth quarter. Millennium Management LLC now owns 198,671 shares of the company's stock valued at $304,000 after acquiring an additional 33,329 shares in the last quarter. Monashee Investment Management LLC boosted its holdings in Biodesix by 15.7% in the first quarter. Monashee Investment Management LLC now owns 4,050,000 shares of the company's stock valued at $2,532,000 after acquiring an additional 549,121 shares in the last quarter. Finally, Birchview Capital LP boosted its holdings in Biodesix by 2.8% in the first quarter. Birchview Capital LP now owns 5,736,113 shares of the company's stock valued at $3,586,000 after acquiring an additional 154,937 shares in the last quarter. 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.

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