Canaccord Genuity Group Reiterates “Buy” Rating for Biodesix (NASDAQ:BDSX)

Biodesix (NASDAQ:BDSX)‘s stock had its “buy” rating restated by stock analysts at Canaccord Genuity Group in a report released on Tuesday,Benzinga reports. They currently have a $20.00 price target on the stock. Canaccord Genuity Group’s price target suggests a potential upside of 59.11% from the stock’s current price.

Several other analysts also recently issued reports on the stock. Weiss Ratings reissued a “sell (e+)” rating on shares of Biodesix in a research note on Monday, December 22nd. Wall Street Zen raised Biodesix from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Four analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Biodesix presently has an average rating of “Moderate Buy” and a consensus price target of $32.50.

Biodesix Stock Down 1.6%

NASDAQ BDSX opened at $12.57 on Tuesday. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 41.11. Biodesix has a 52 week low of $3.44 and a 52 week high of $20.40. The firm has a market capitalization of $100.06 million, a price-to-earnings ratio of -2.26 and a beta of 0.67. The company has a fifty day moving average of $8.72 and a two-hundred day moving average of $8.11.

Insider Buying and Selling at Biodesix

In other Biodesix news, Director Jack W. Schuler acquired 82,465 shares of the company’s stock in a transaction dated Thursday, January 22nd. The shares were purchased at an average cost of $10.96 per share, for a total transaction of $903,816.40. Following the completion of the purchase, the director owned 1,463,210 shares in the company, valued at approximately $16,036,781.60. This trade represents a 5.97% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Scott Hutton sold 3,559 shares of the business’s stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $10.08, for a total transaction of $35,874.72. Following the completion of the transaction, the chief executive officer directly owned 45,413 shares of the company’s stock, valued at $457,763.04. This trade represents a 7.27% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have bought 182,465 shares of company stock worth $2,084,616 and have sold 7,672 shares worth $73,576. Company insiders own 30.10% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the stock. Cetera Investment Advisers purchased a new stake in shares of Biodesix during the 4th quarter worth $68,000. Millennium Management LLC bought a new position in Biodesix in the third quarter worth about $113,000. Oracle Investment Management Inc. purchased a new stake in shares of Biodesix during the third quarter valued at about $113,000. DRW Securities LLC bought a new stake in shares of Biodesix in the 4th quarter valued at about $105,000. Finally, State Street Corp grew its position in shares of Biodesix by 15.6% in the 4th quarter. State Street Corp now owns 17,802 shares of the company’s stock worth $121,000 after buying an additional 2,400 shares during the last quarter. 20.96% of the stock is owned by institutional investors.

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.