Biodesix (NASDAQ:BDSX) Issues Quarterly Earnings Results

Biodesix (NASDAQ:BDSXGet Rating) issued its quarterly earnings data on Wednesday. The company reported ($0.50) EPS for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.12), MarketWatch Earnings reports. During the same period last year, the business earned ($0.23) EPS. Biodesix updated its FY 2022 guidance to EPS.

Shares of NASDAQ BDSX traded up $0.09 during trading hours on Thursday, hitting $1.61. 142,185 shares of the company traded hands, compared to its average volume of 446,219. Biodesix has a 12 month low of $1.31 and a 12 month high of $16.40. The stock has a market capitalization of $50.25 million, a price-to-earnings ratio of -1.02 and a beta of 1.50. The company’s 50 day moving average price is $1.86 and its 200 day moving average price is $3.95.

A number of analysts have weighed in on the company. Canaccord Genuity Group lowered their price target on Biodesix from $10.00 to $7.00 in a research report on Thursday. Zacks Investment Research downgraded shares of Biodesix from a “buy” rating to a “hold” rating in a research note on Thursday, March 17th. BTIG Research restated a “buy” rating and issued a $10.00 price objective (down from $17.00) on shares of Biodesix in a report on Thursday, April 14th. Cowen started coverage on shares of Biodesix in a report on Wednesday, April 20th. They issued an “outperform” rating on the stock. Finally, Cowen initiated coverage on Biodesix in a report on Wednesday, April 20th. They set an “outperform” rating on the stock. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $10.75.

In other news, Chairman John Patience acquired 279,329 shares of the stock in a transaction dated Thursday, April 7th. The shares were bought at an average cost of $1.79 per share, for a total transaction of $499,998.91. Following the purchase, the chairman now directly owns 337,926 shares of the company’s stock, valued at $604,887.54. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Matthew Strobeck purchased 558,659 shares of the company’s stock in a transaction that occurred on Thursday, April 7th. The shares were purchased at an average cost of $1.79 per share, for a total transaction of $999,999.61. The disclosure for this purchase can be found here. Insiders sold 20,146 shares of company stock valued at $36,867 over the last ninety days. Insiders own 49.80% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Wells Fargo & Company MN raised its position in shares of Biodesix by 360.4% during the 4th quarter. Wells Fargo & Company MN now owns 7,642 shares of the company’s stock valued at $40,000 after acquiring an additional 5,982 shares during the last quarter. D. E. Shaw & Co. Inc. lifted its stake in shares of Biodesix by 34.0% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 21,824 shares of the company’s stock valued at $115,000 after purchasing an additional 5,541 shares during the period. Two Sigma Advisers LP purchased a new position in shares of Biodesix in the third quarter valued at about $156,000. JPMorgan Chase & Co. grew its stake in Biodesix by 6.9% in the fourth quarter. JPMorgan Chase & Co. now owns 49,245 shares of the company’s stock worth $261,000 after purchasing an additional 3,187 shares in the last quarter. Finally, Millennium Management LLC acquired a new position in shares of Biodesix in the 4th quarter valued at $275,000. Hedge funds and other institutional investors own 85.26% of the company’s stock.

Biodesix Company Profile (Get Rating)

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.

See Also

Earnings History for Biodesix (NASDAQ:BDSX)

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