Canaccord Genuity Group Has Lowered Expectations for Biodesix (NASDAQ:BDSX) Stock Price

Biodesix (NASDAQ:BDSX - Free Report) had its price target lowered by Canaccord Genuity Group from $3.50 to $2.50 in a report published on Tuesday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

Separately, William Blair reissued an "outperform" rating on shares of Biodesix in a research report on Tuesday, March 4th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Biodesix currently has an average rating of "Buy" and a consensus price target of $2.83.

Biodesix Trading Down 1.5 %

Biodesix stock traded down $0.01 during trading on Tuesday, hitting $0.52. The company's stock had a trading volume of 242,794 shares, compared to its average volume of 310,122. The stock's fifty day moving average is $0.66 and its 200 day moving average is $1.07. Biodesix has a 1-year low of $0.45 and a 1-year high of $2.04. The stock has a market capitalization of $75.86 million, a price-to-earnings ratio of -1.33 and a beta of 1.17. The company has a debt-to-equity ratio of 1.30, a quick ratio of 3.40 and a current ratio of 3.40.

Biodesix (NASDAQ:BDSX - Get Free Report) last announced its quarterly earnings data on Monday, March 3rd. The company reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.07) by $0.01. Biodesix had a negative net margin of 66.84% and a negative return on equity of 275.79%. The business had revenue of $20.43 million for the quarter, compared to analyst estimates of $19.92 million. As a group, equities research analysts predict that Biodesix will post -0.35 EPS for the current year.

Insider Activity at Biodesix

In other news, CEO Scott Hutton sold 83,660 shares of Biodesix stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $0.92, for a total transaction of $76,967.20. Following the sale, the chief executive officer now owns 701,947 shares in the company, valued at $645,791.24. This trade represents a 10.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last 90 days, insiders have sold 128,702 shares of company stock worth $118,406. 69.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Biodesix

A number of institutional investors have recently added to or reduced their stakes in the company. Barclays PLC increased its position in shares of Biodesix by 1,140.5% during the third quarter. Barclays PLC now owns 23,036 shares of the company's stock worth $41,000 after acquiring an additional 21,179 shares during the last quarter. Geode Capital Management LLC grew its stake in Biodesix by 50.7% during the 3rd quarter. Geode Capital Management LLC now owns 804,576 shares of the company's stock valued at $1,433,000 after purchasing an additional 270,724 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of Biodesix in the 3rd quarter valued at approximately $10,849,000. Stephens Inc. AR purchased a new position in shares of Biodesix during the 4th quarter valued at approximately $303,000. Finally, HighTower Advisors LLC grew its position in shares of Biodesix by 17.1% during the fourth quarter. HighTower Advisors LLC now owns 153,934 shares of the company's stock worth $236,000 after buying an additional 22,500 shares in the last quarter. 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.