Insider Buying: Biodesix (NASDAQ:BDSX) Director Purchases 13,900 Shares

Key Points

• Director Jack Schuler bought 13,900 Biodesix shares at an average price of $24.25, increasing his direct stake by 2.71% to 527,110 shares valued at approximately $12.8 million.
• 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 remains unprofitable.
• Analyst sentiment is generally positive, with a consensus “Moderate Buy” rating and an average price target of $31.33; recent targets range as high as $35.00.

Biodesix, Inc. (NASDAQ:BDSX - Get Free Report) Director Jack Schuler bought 13,900 shares of the stock in a transaction on Monday, August 10th. The shares were acquired at an average cost of $24.25 per share, with a total value of $337,075.00. Following the acquisition, the director directly owned 527,110 shares in the company, valued at approximately $12,782,417.50. This trade represents a 2.71% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Biodesix Trading Down 0.4%

Shares of Biodesix stock traded down $0.09 on Wednesday, hitting $24.22. 90,916 shares of the company's stock traded hands, compared to its average volume of 630,207. The firm's 50-day moving average price is $20.02 and its two-hundred day moving average price is $15.96. The company has a debt-to-equity ratio of 5.12, a current ratio of 2.85 and a quick ratio of 2.85. The stock has a market capitalization of $255.55 million, a PE ratio of -7.64 and a beta of 0.56. Biodesix, Inc. has a one year low of $5.26 and a one year high of $25.52.

Biodesix (NASDAQ:BDSX - Get Free Report) last posted its quarterly earnings results 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 return on equity of 788.19% and a negative net margin of 26.97%.The business had revenue of $26.86 million for the quarter, compared to analyst estimates of $26.03 million. On average, research analysts expect that Biodesix, Inc. will post -2.68 EPS for the current fiscal year.

Hedge Funds Weigh In On Biodesix

A number of institutional investors have recently added to or reduced their stakes in BDSX. AIGH Capital Management LLC bought a new stake in shares of Biodesix in the first quarter valued at approximately $10,996,000. XTX Topco Ltd increased its position in shares of Biodesix by 99.4% in the second 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 period. Walleye Capital LLC acquired a new position in Biodesix in the second quarter valued at about $1,679,000. Stempoint Capital LP acquired a new position in Biodesix in the first quarter valued at about $1,015,000. Finally, GSA Capital Partners LLP bought a new position in Biodesix in the 2nd quarter valued at about $1,060,000. 20.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

About Biodesix

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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