Biodesix (NASDAQ:BDSX) Now Covered by Analysts at Lake Street Capital

Lake Street Capital started coverage on shares of Biodesix (NASDAQ:BDSX) in a research note published on Friday, Marketbeat reports. The firm issued a buy rating and a $3.00 price objective on the stock.

Separately, Canaccord Genuity Group reaffirmed a buy rating and set a $3.50 price target on shares of Biodesix in a research note on Monday, March 4th.

Biodesix Price Performance

Shares of NASDAQ BDSX traded up $0.09 during midday trading on Friday, reaching $1.40. 151,010 shares of the company were exchanged, compared to its average volume of 246,363. Biodesix has a one year low of $1.03 and a one year high of $2.21. The stock has a market cap of $160.57 million, a P/E ratio of -2.15 and a beta of 1.15. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 7.69. The stock’s 50-day moving average price is $1.39 and its 200-day moving average price is $1.57.

Biodesix (NASDAQ:BDSX) last issued its earnings results on Friday, March 1st. The company reported ($0.10) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.01. Biodesix had a negative return on equity of 29,379.44% and a negative net margin of 106.23%. The business had revenue of $14.67 million during the quarter, compared to analysts’ expectations of $15.76 million. On average, sell-side analysts anticipate that Biodesix will post -0.44 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Biodesix news, CEO Scott Hutton sold 29,708 shares of the stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $1.66, for a total transaction of $49,315.28. Following the completion of the sale, the chief executive officer now owns 465,011 shares of the company’s stock, valued at approximately $771,918.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold a total of 96,128 shares of company stock valued at $173,035 over the last ninety days. 63.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Biodesix

A number of institutional investors have recently modified their holdings of BDSX. Oracle Investment Management Inc. acquired a new stake in Biodesix during the 3rd quarter worth about $69,000. Opaleye Management Inc. grew its stake in Biodesix by 9.0% during the fourth quarter. Opaleye Management Inc. now owns 496,500 shares of the company’s stock worth $914,000 after purchasing an additional 40,927 shares during the period. Finally, Essex Investment Management Co. LLC increased its holdings in Biodesix by 1.4% in the first quarter. Essex Investment Management Co. LLC now owns 925,614 shares of the company’s stock worth $1,324,000 after purchasing an additional 12,669 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.