Insider Buying: Biodesix (NASDAQ:BDSX) Director Purchases $1,499,999.96 in Stock

Key Points

• Jack Schuler, a director at Biodesix, purchased 3,488,372 shares of the company for about $1.5 million, raising his total ownership to 24,406,546 shares.
• Biodesix's stock price recently dropped by 2.7%, currently trading at $0.42, with a significant increase in trading volume compared to its average.
• The company's quarterly earnings report showed a loss of ($0.08) EPS, missing estimates, despite revenues of $20.02 million exceeding expectations.

Biodesix, Inc. (NASDAQ:BDSX - Get Free Report) Director Jack W. Schuler bought 3,488,372 shares of the business's stock in a transaction dated Friday, August 29th. The shares were acquired at an average cost of $0.43 per share, for a total transaction of $1,499,999.96. Following the purchase, the director owned 24,406,546 shares of the company's stock, valued at approximately $10,494,814.78. The trade was a 16.68% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Biodesix Trading Down 0.4%

Shares of NASDAQ BDSX traded down $0.00 during midday trading on Friday, hitting $0.44. The company's stock had a trading volume of 3,363,306 shares, compared to its average volume of 5,107,862. The company has a current ratio of 2.14, a quick ratio of 2.14 and a debt-to-equity ratio of 41.11. The business's 50 day moving average is $0.38 and its two-hundred day moving average is $0.47. Biodesix, Inc. has a 12-month low of $0.17 and a 12-month high of $1.90. The firm has a market cap of $64.72 million, a P/E ratio of -1.52 and a beta of 1.00.

Biodesix (NASDAQ:BDSX - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.07) by ($0.01). The business had revenue of $20.02 million for the quarter, compared to analysts' expectations of $18.47 million. Biodesix had a negative net margin of 53.66% and a negative return on equity of 269.67%. Biodesix has set its FY 2025 guidance at EPS. As a group, equities research analysts expect that Biodesix, Inc. will post -0.35 EPS for the current year.

Hedge Funds Weigh In On Biodesix

Several institutional investors have recently bought and sold shares of BDSX. Barclays PLC raised its stake in Biodesix by 387.3% in the fourth quarter. Barclays PLC now owns 112,254 shares of the company's stock worth $171,000 after buying an additional 89,218 shares in the last quarter. Cubist Systematic Strategies LLC increased its holdings in shares of Biodesix by 385.9% in the 4th quarter. Cubist Systematic Strategies LLC now owns 51,024 shares of the company's stock valued at $78,000 after acquiring an additional 40,524 shares during the period. Northern Trust Corp raised its position in shares of Biodesix by 286.5% in the 4th quarter. Northern Trust Corp now owns 169,132 shares of the company's stock worth $259,000 after acquiring an additional 125,368 shares in the last quarter. Susquehanna International Group LLP raised its position in shares of Biodesix by 769.8% in the 4th quarter. Susquehanna International Group LLP now owns 1,115,748 shares of the company's stock worth $1,707,000 after acquiring an additional 987,475 shares in the last quarter. Finally, Jane Street Group LLC purchased a new stake in shares of Biodesix during the 4th quarter worth $119,000. 20.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

BDSX has been the topic of a number of research analyst reports. Craig Hallum reduced their price target on shares of Biodesix from $3.00 to $1.50 and set a "buy" rating on the stock in a research note on Wednesday, May 14th. Lake Street Capital dropped their target price on shares of Biodesix from $3.00 to $2.00 and set a "buy" rating on the stock in a research note on Wednesday, May 14th. Canaccord Genuity Group reduced their target price on shares of Biodesix from $2.50 to $1.50 and set a "buy" rating on the stock in a research report on Wednesday, May 14th. William Blair reiterated a "market perform" rating on shares of Biodesix in a report on Wednesday, May 14th. Finally, Scotiabank dropped their price objective on Biodesix from $3.00 to $2.00 and set a "sector outperform" rating on the stock in a research note on Wednesday, May 21st. Four equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, Biodesix has an average rating of "Moderate Buy" and a consensus target price of $1.75.

Biodesix Company Profile

Biodesix, Inc operates as a data-driven diagnostic solutions company in the United States. The company offers blood-based lung tests, including Nodify XL2 and Nodify CDT tests, together marketed as part of Nodify Lung Nodule Risk Assessment testing strategy, to assess the risk of lung cancer and help in identifying the appropriate treatment pathway and help physicians in reclassifying risk of malignancy in patients with suspicious lung nodules.