Stempoint Capital LP Acquires New Holdings in Biodesix, Inc. $BDSX

Key Points

• Stempoint Capital acquired 70,004 Biodesix shares worth approximately $1.015 million, representing 0.69% of the company. Institutional investors collectively own 20.96% of BDSX.
• Analyst sentiment is generally positive: BDSX has a “Moderate Buy” consensus rating and an average price target of $28.33, with recent targets ranging from $26 to $32.
• Biodesix reported quarterly revenue of $25.55 million and an adjusted earnings loss of $0.81 per share, beating consensus estimates on both measures, though the company remains unprofitable and highly leveraged.

Stempoint Capital LP bought a new stake in shares of Biodesix, Inc. (NASDAQ:BDSX - Free Report) in the first quarter, according to its most recent Form 13F filing with the SEC. The fund bought 70,004 shares of the company's stock, valued at approximately $1,015,000. Stempoint Capital LP owned 0.69% of Biodesix as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. AIGH Capital Management LLC bought a new stake in shares of Biodesix during the first quarter valued at approximately $10,996,000. Aberdeen Group plc bought a new position in Biodesix in the 4th quarter worth approximately $1,784,000. Thompson Davis & CO. Inc. bought a new position in Biodesix in the 1st quarter worth approximately $170,000. Monashee Investment Management LLC increased its position in Biodesix by 12.3% in the 4th quarter. Monashee Investment Management LLC now owns 112,344 shares of the company's stock valued at $764,000 after acquiring an additional 12,348 shares during the period. Finally, State Street Corp raised its stake in Biodesix by 15.6% during 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. Institutional investors own 20.96% of the company's stock.

Analyst Ratings Changes

A number of brokerages have issued reports on BDSX. Canaccord Genuity Group boosted their price target on Biodesix from $22.00 to $27.00 and gave the stock a "buy" rating in a research report on Thursday, June 18th. Weiss Ratings raised Biodesix from a "sell (e+)" rating to a "sell (d-)" rating in a report on Friday, June 12th. Roth Capital initiated coverage on shares of Biodesix in a research note on Wednesday, June 24th. They set a "buy" rating and a $32.00 price objective on the stock. Finally, HC Wainwright initiated coverage on shares of Biodesix in a report on Monday, June 15th. They issued a "buy" rating and a $26.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $28.33.

Biodesix Price Performance

NASDAQ BDSX opened at $20.38 on Thursday. Biodesix, Inc. has a 12 month low of $5.26 and a 12 month high of $24.92. The firm has a market capitalization of $211.14 million, a PE ratio of -5.02 and a beta of 0.53. The company's 50 day simple moving average is $18.68 and its 200 day simple moving average is $15.05. The company has a debt-to-equity ratio of 5.09, a current ratio of 2.82 and a quick ratio of 2.82.

Biodesix (NASDAQ:BDSX - Get Free Report) last released its earnings results on Monday, May 4th. The company reported ($0.81) earnings per share for the quarter, topping analysts' consensus estimates of ($1.13) by $0.32. The firm had revenue of $25.55 million during the quarter, compared to the consensus estimate of $23.12 million. Biodesix had a negative return on equity of 2,101.40% and a negative net margin of 33.26%. As a group, equities research analysts forecast that Biodesix, Inc. will post -2.91 EPS for the current fiscal 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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