BlackRock Inc. Invests $970,000 in Biodesix, Inc. $BDSX

Key Points

• BlackRock acquired 43,026 Biodesix shares valued at approximately $970,000, giving it a 0.42% stake. Other hedge funds also initiated positions, bringing total institutional ownership to 20.96%.
• Biodesix reported quarterly revenue of $26.86 million and an adjusted loss of $0.71 per share, beating analyst estimates, though the company remains unprofitable with a negative 26.97% net margin.
• Analyst sentiment is mostly positive, with a “Moderate Buy” consensus and an average price target of $31.33 versus the stock’s reported $26.18 price. Insiders also purchased 42,600 shares in the latest quarter.

BlackRock Inc. acquired a new position in shares of Biodesix, Inc. (NASDAQ:BDSX - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 43,026 shares of the company's stock, valued at approximately $970,000. BlackRock Inc. owned about 0.42% of Biodesix as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. AIGH Capital Management LLC acquired a new stake in Biodesix in the 2nd quarter valued at approximately $15,296,000. GSA Capital Partners LLP acquired a new position in shares of Biodesix during the second quarter worth approximately $1,060,000. Walleye Capital LLC bought a new stake in shares of Biodesix in the second quarter valued at approximately $1,679,000. Stempoint Capital LP acquired a new stake in shares of Biodesix in the first quarter worth $1,015,000. Finally, Renaissance Technologies LLC bought a new position in Biodesix during the first quarter worth $173,000. Institutional investors own 20.96% of the company's stock.

Biodesix Stock Performance

Shares of NASDAQ BDSX opened at $26.18 on Monday. Biodesix, Inc. has a one year low of $5.26 and a one year high of $31.31. The company has a current ratio of 2.85, a quick ratio of 2.85 and a debt-to-equity ratio of 5.12. The business has a fifty day simple moving average of $23.28 and a 200 day simple moving average of $17.89. The firm has a market capitalization of $276.20 million, a price-to-earnings ratio of -8.26 and a beta of 0.60.

Biodesix (NASDAQ:BDSX - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The company reported ($0.71) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.90) by $0.19. The firm had revenue of $26.86 million for the quarter, compared to analyst estimates of $26.03 million. Biodesix had a negative net margin of 26.97% and a negative return on equity of 788.19%. Sell-side analysts expect that Biodesix, Inc. will post -2.68 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on BDSX shares. HC Wainwright reiterated a "buy" rating and set a $27.00 target price (up from $26.00) on shares of Biodesix in a research note on Thursday, August 6th. Canaccord Genuity Group boosted their price objective on shares of Biodesix from $27.00 to $35.00 and gave the stock a "buy" rating in a report on Monday, August 10th. Weiss Ratings lowered shares of Biodesix from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Friday, August 21st. Finally, Roth Capital assumed coverage on shares of Biodesix in a research note on Wednesday, June 24th. They issued a "buy" rating and a $32.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, Biodesix has an average rating of "Moderate Buy" and an average price target of $31.33.

Insiders Place Their Bets

In other Biodesix news, Director Jack Schuler purchased 15,000 shares of the business's stock in a transaction on Wednesday, August 12th. The stock was purchased at an average price of $24.47 per share, for a total transaction of $367,050.00. Following the completion of the purchase, the director directly owned 555,810 shares in the company, valued at approximately $13,600,670.70. This trade represents a 2.77% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have bought a total of 42,600 shares of company stock valued at $1,033,062 over the last quarter. Insiders own 23.20% of the company's stock.

Biodesix Company 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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