Sei Investments Co. Makes New Investment in Biodesix, Inc. $BDSX

Key Points

• Sei Investments Co. acquired 43,024 Biodesix shares worth approximately $624,000, representing about 0.43% of the company. Institutional investors collectively own 20.96% of BDSX.
• Biodesix reported quarterly revenue of $26.86 million and an adjusted loss of $0.71 per share, beating analyst estimates for both metrics, though the company remained unprofitable.
• Analyst sentiment is generally positive: Biodesix has a “Moderate Buy” consensus rating and an average price target of $31.33, while Canaccord raised its target to $35.00. Shares opened at $24.00, near their 52-week high of $25.52.

Sei Investments Co. purchased a new stake in Biodesix, Inc. (NASDAQ:BDSX - Free Report) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 43,024 shares of the company's stock, valued at approximately $624,000. Sei Investments Co. owned about 0.43% of Biodesix at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. XTX Topco Ltd increased its stake in shares of Biodesix by 99.4% during the 2nd quarter. XTX Topco Ltd now owns 205,647 shares of the company's stock worth $58,000 after purchasing an additional 102,494 shares during the last quarter. Millennium Management LLC acquired a new stake in Biodesix in the 3rd quarter valued at about $113,000. Geode Capital Management LLC lifted its stake 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 purchasing an additional 2,235 shares during the last quarter. Monashee Investment Management LLC grew its holdings in Biodesix by 12.3% during the fourth quarter. Monashee Investment Management LLC now owns 112,344 shares of the company's stock worth $764,000 after purchasing an additional 12,348 shares during the period. Finally, DRW Securities LLC bought a new position in Biodesix during the fourth quarter worth about $105,000. Institutional investors own 20.96% of the company's stock.

Insiders Place Their Bets

In other news, Director Jack W. Schuler purchased 15,000 shares of Biodesix stock in a transaction that occurred on Wednesday, August 12th. The stock was acquired at an average cost of $24.47 per share, for a total transaction of $367,050.00. Following the purchase, the director directly owned 555,810 shares of the company's stock, valued at $13,600,670.70. This trade represents a 2.77% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Over the last ninety days, insiders purchased 42,600 shares of company stock worth $1,033,062. Company insiders own 23.20% of the company's stock.

Biodesix Stock Up 0.9%

Shares of BDSX opened at $24.00 on Friday. The firm has a market cap of $253.20 million, a P/E ratio of -7.57 and a beta of 0.56. The company has a debt-to-equity ratio of 5.12, a quick ratio of 2.85 and a current ratio of 2.85. Biodesix, Inc. has a 52 week low of $5.26 and a 52 week high of $25.52. The firm's 50-day simple moving average is $20.50 and its 200 day simple moving average is $16.19.

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

Analyst Upgrades and Downgrades

Several analysts have issued reports on BDSX shares. Canaccord Genuity Group upped their price objective on Biodesix from $27.00 to $35.00 and gave the company a "buy" rating in a research note on Monday, August 10th. 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 target (up from $26.00) on shares of Biodesix in a report on Thursday, August 6th. Finally, Roth Capital initiated coverage on shares of Biodesix in a research report on Wednesday, June 24th. They set a "buy" rating and a $32.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, Biodesix presently has a consensus rating of "Moderate Buy" and an average target price of $31.33.

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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