Biodesix, Inc. $BDSX Shares Sold by Allworth Financial LP

Allworth Financial LP lowered its position in shares of Biodesix, Inc. (NASDAQ:BDSX) by 95.0% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,965 shares of the company’s stock after selling 94,366 shares during the period. Allworth Financial LP’s holdings in Biodesix were worth $37,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in BDSX. XTX Topco Ltd boosted its stake in shares of Biodesix by 99.4% in the second quarter. XTX Topco Ltd now owns 205,647 shares of the company’s stock valued at $58,000 after purchasing an additional 102,494 shares during the period. Oracle Investment Management Inc. acquired a new stake in Biodesix during the 3rd quarter valued at $113,000. Finally, Millennium Management LLC purchased a new stake in Biodesix during the 3rd quarter worth $113,000. 20.96% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Biodesix

In other news, CEO Scott Hutton sold 3,559 shares of the company’s stock in a transaction dated Tuesday, February 10th. The shares were 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 owned 45,413 shares in the company, valued at approximately $457,763.04. This represents a 7.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jack W. Schuler acquired 82,465 shares of the company’s stock in a transaction that occurred on Thursday, January 22nd. The stock was purchased at an average cost of $10.96 per share, for a total transaction of $903,816.40. Following the acquisition, 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 SEC filing for this purchase provides additional information. Over the last ninety days, insiders have bought 182,465 shares of company stock valued at $2,084,616 and have sold 10,999 shares valued at $116,095. 30.10% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on BDSX. Canaccord Genuity Group restated a “buy” rating and set a $20.00 price objective on shares of Biodesix in a research note on Tuesday, February 17th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Biodesix in a research report on Monday, December 22nd. Finally, William Blair raised shares of Biodesix from a “market perform” rating to an “outperform” rating in a report on Friday, February 27th. Five research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $32.50.

Biodesix Price Performance

Shares of BDSX opened at $14.50 on Wednesday. Biodesix, Inc. has a 52 week low of $3.44 and a 52 week high of $20.21. The company has a current ratio of 1.87, a quick ratio of 1.86 and a debt-to-equity ratio of 41.11. The firm has a market cap of $142.97 million, a price-to-earnings ratio of -2.99 and a beta of 0.59. The stock has a 50 day moving average of $13.60 and a 200-day moving average of $9.56.

Biodesix (NASDAQ:BDSX) last posted its quarterly earnings results on Thursday, February 26th. The company reported ($0.49) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.05) by $0.56. The business had revenue of $28.76 million for the quarter, compared to analyst estimates of $26.25 million. Biodesix had a negative return on equity of 1,760.83% and a negative net margin of 39.85%. As a group, analysts forecast that Biodesix, Inc. will post -0.35 EPS for the current 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.