AIGH Capital Management LLC Acquires New Stake in Biodesix, Inc. $BDSX

Key Points

• AIGH Capital Management acquired 678,328 Biodesix shares worth approximately $15.3 million, giving it a 6.55% stake and making BDSX its 18th-largest holding. Institutional investors collectively own 20.96% of the company.
• Analysts remain generally optimistic, with Biodesix receiving a consensus “Moderate Buy” rating and an average price target of $31.33. Recent targets range from $27 to $35, while insiders also purchased 42,600 shares over the last quarter.
• Biodesix exceeded quarterly expectations, reporting revenue of $26.86 million and an adjusted loss of $0.71 per share versus the expected $0.90 loss. Despite improving share performance—BDSX opened at $24.00 near its 12-month high—the company remains unprofitable, with a negative net margin of 26.97%.

AIGH Capital Management LLC acquired a new stake in shares of Biodesix, Inc. (NASDAQ:BDSX - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 678,328 shares of the company's stock, valued at approximately $15,296,000. Biodesix comprises 1.0% of AIGH Capital Management LLC's holdings, making the stock its 18th biggest holding. AIGH Capital Management LLC owned about 6.55% of Biodesix at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the stock. Cetera Investment Advisers boosted its stake in Biodesix by 20.0% in the 1st quarter. Cetera Investment Advisers now owns 12,000 shares of the company's stock worth $174,000 after purchasing an additional 2,000 shares in the last quarter. Geode Capital Management LLC lifted its position in Biodesix by 5.6% in the 4th quarter. Geode Capital Management LLC now owns 42,453 shares of the company's stock valued at $289,000 after acquiring an additional 2,235 shares in the last quarter. State Street Corp lifted its position in Biodesix by 15.6% in the 4th quarter. State Street Corp now owns 17,802 shares of the company's stock valued at $121,000 after acquiring an additional 2,400 shares in the last quarter. Walleye Capital LLC purchased a new stake in Biodesix during the 1st quarter valued at $157,000. Finally, Thompson Davis & CO. Inc. purchased a new stake in Biodesix during the 1st quarter valued at $170,000. 20.96% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on BDSX. Weiss Ratings upgraded Biodesix from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Friday, June 12th. HC Wainwright reaffirmed a "buy" rating and set a $27.00 price objective (up from $26.00) on shares of Biodesix in a research report on Thursday, August 6th. Roth Capital began coverage on Biodesix in a report on Wednesday, June 24th. They issued a "buy" rating and a $32.00 price objective for the company. Finally, Canaccord Genuity Group boosted their target price on Biodesix from $27.00 to $35.00 and gave the stock a "buy" rating in a research report on Monday, August 10th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Biodesix presently has an average rating of "Moderate Buy" and a consensus target price of $31.33.

Insider Buying and Selling

In related news, Director Jack W. Schuler bought 15,000 shares of the stock in a transaction that occurred on Wednesday, August 12th. The shares were bought at an average cost of $24.47 per share, for a total transaction of $367,050.00. Following the completion of the transaction, the director owned 555,810 shares of the company's stock, valued at approximately $13,600,670.70. This trade represents a 2.77% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last quarter, insiders acquired 42,600 shares of company stock valued at $1,033,062. 23.20% of the stock is currently owned by company insiders.

Biodesix Stock Performance

BDSX opened at $24.00 on Monday. The company has a current ratio of 2.85, a quick ratio of 2.85 and a debt-to-equity ratio of 5.12. Biodesix, Inc. has a 12-month low of $5.26 and a 12-month high of $25.52. The company has a market cap of $253.20 million, a price-to-earnings ratio of -7.57 and a beta of 0.56. The company's 50 day moving average is $20.50 and its 200 day moving average is $16.23.

Biodesix (NASDAQ:BDSX - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The company reported ($0.71) earnings per share for the quarter, topping the consensus estimate of ($0.90) by $0.19. The business had revenue of $26.86 million for the quarter, compared to analysts' expectations of $26.03 million. Biodesix had a negative net margin of 26.97% and a negative return on equity of 788.19%. On average, equities research analysts predict that Biodesix, Inc. will post -2.68 EPS for the current year.

Biodesix Profile

Biodesix, Inc is a commercial-stage molecular diagnostics company headquartered in Boulder, Colorado, that develops and delivers blood-based tests to improve the diagnosis and management of lung diseases, including lung cancer. The company integrates advanced proteomic and, more recently, genomic technologies to offer noninvasive testing solutions designed to guide clinical decision-making. Biodesix operates a CLIA-certified and CAP-accredited laboratory, allowing it to process patient samples at scale and maintain rigorous quality standards.

The company's flagship product, VeriStrat®, is a proteomic test that stratifies patients with non-small cell lung cancer into groups more likely to benefit from specific therapies.

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