Biodesix (NASDAQ:BDSX) Given New $2.50 Price Target at Canaccord Genuity Group

Biodesix (NASDAQ:BDSX) had its price target lowered by Canaccord Genuity Group from $3.50 to $2.50 in a research note published on Tuesday,Benzinga reports. Canaccord Genuity Group currently has a buy rating on the stock.

Separately, William Blair reissued an “outperform” rating on shares of Biodesix in a research note on Tuesday, March 4th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $2.86.

Biodesix Trading Down 6.5 %

Shares of BDSX stock opened at $0.54 on Tuesday. The company has a market capitalization of $78.41 million, a PE ratio of -1.37 and a beta of 1.17. The company has a debt-to-equity ratio of 1.30, a quick ratio of 3.40 and a current ratio of 3.40. Biodesix has a 52-week low of $0.45 and a 52-week high of $2.04. The business’s fifty day moving average is $0.68 and its 200 day moving average is $1.09.

Biodesix (NASDAQ:BDSX) last released its earnings results on Monday, March 3rd. The company reported ($0.06) EPS for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.01. The business had revenue of $20.43 million for the quarter, compared to analysts’ expectations of $19.92 million. Biodesix had a negative return on equity of 275.79% and a negative net margin of 66.84%. On average, equities research analysts anticipate that Biodesix will post -0.35 EPS for the current fiscal year.

Insider Activity

In other news, CEO Scott Hutton sold 83,660 shares of the firm’s stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $0.92, for a total transaction of $76,967.20. Following the transaction, the chief executive officer now directly owns 701,947 shares of the company’s stock, valued at approximately $645,791.24. This trade represents a 10.65 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last three months, insiders have sold 128,702 shares of company stock valued at $118,406. 69.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Balyasny Asset Management L.P. purchased a new position in Biodesix during the 4th quarter valued at about $29,000. Barclays PLC grew its position in shares of Biodesix by 1,140.5% in the 3rd quarter. Barclays PLC now owns 23,036 shares of the company’s stock worth $41,000 after buying an additional 21,179 shares during the last quarter. HighTower Advisors LLC increased its stake in shares of Biodesix by 17.1% during the fourth quarter. HighTower Advisors LLC now owns 153,934 shares of the company’s stock valued at $236,000 after buying an additional 22,500 shares during the period. Geode Capital Management LLC raised its holdings in shares of Biodesix by 2.8% during the fourth quarter. Geode Capital Management LLC now owns 827,199 shares of the company’s stock valued at $1,266,000 after acquiring an additional 22,623 shares in the last quarter. Finally, Millennium Management LLC raised its holdings in shares of Biodesix by 20.2% during the fourth quarter. Millennium Management LLC now owns 198,671 shares of the company’s stock valued at $304,000 after acquiring an additional 33,329 shares in the last quarter. 20.96% of the stock is owned by institutional investors.

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.