Insider Buying: Biodesix, Inc. (NASDAQ:BDSX) Director Buys 40,000 Shares of Stock

Biodesix, Inc. (NASDAQ:BDSX) Director Matthew Strobeck acquired 40,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The shares were acquired at an average cost of $1.40 per share, with a total value of $56,000.00. Following the transaction, the director now directly owns 2,606,879 shares in the company, valued at $3,649,630.60. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link.

Biodesix Price Performance

Shares of BDSX remained flat at $1.34 during mid-day trading on Wednesday. The stock had a trading volume of 797,321 shares, compared to its average volume of 159,360. Biodesix, Inc. has a fifty-two week low of $1.15 and a fifty-two week high of $2.21. The company has a quick ratio of 3.28, a current ratio of 3.28 and a debt-to-equity ratio of 0.99. The stock’s fifty day moving average price is $1.71 and its 200-day moving average price is $1.61. The stock has a market cap of $194.54 million, a P/E ratio of -3.44 and a beta of 1.22.

Biodesix (NASDAQ:BDSX) last issued its earnings results on Friday, November 1st. The company reported ($0.07) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.07). Biodesix had a negative return on equity of 369.89% and a negative net margin of 66.84%. The business had revenue of $18.15 million during the quarter, compared to analysts’ expectations of $18.45 million. During the same period in the prior year, the firm posted ($0.12) EPS. As a group, equities analysts expect that Biodesix, Inc. will post -0.36 EPS for the current fiscal year.

Analyst Ratings Changes

BDSX has been the subject of several recent research reports. Craig Hallum initiated coverage on Biodesix in a report on Friday, July 26th. They issued a “buy” rating and a $3.00 price target for the company. Scotiabank initiated coverage on Biodesix in a report on Monday, September 16th. They issued a “sector outperform” rating and a $3.00 price target for the company. Seven analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of $3.06.

Hedge Funds Weigh In On Biodesix

A number of hedge funds have recently modified their holdings of the stock. CVI Holdings LLC bought a new stake in Biodesix during the 2nd quarter worth approximately $59,000. Opaleye Management Inc. grew its position in Biodesix by 7.7% during the 1st quarter. Opaleye Management Inc. now owns 534,657 shares of the company’s stock worth $765,000 after acquiring an additional 38,157 shares during the last quarter. Perkins Capital Management Inc. grew its position in Biodesix by 74.7% during the 3rd quarter. Perkins Capital Management Inc. now owns 724,782 shares of the company’s stock worth $1,290,000 after acquiring an additional 310,000 shares during the last quarter. Essex Investment Management Co. LLC grew its position in Biodesix by 1.4% during the 1st quarter. Essex Investment Management Co. LLC now owns 925,614 shares of the company’s stock worth $1,324,000 after acquiring an additional 12,669 shares during the last quarter. Finally, Farallon Capital Management LLC bought a new stake in Biodesix during the 2nd quarter worth approximately $2,874,000. 20.96% of the stock is owned by institutional investors and hedge funds.

About Biodesix

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.