Biodesix’s (BDSX) “Outperform” Rating Reaffirmed at William Blair

Biodesix (NASDAQ:BDSX)‘s stock had its “outperform” rating reiterated by stock analysts at William Blair in a note issued to investors on Tuesday,RTT News reports.

Biodesix Stock Down 1.7 %

Shares of NASDAQ BDSX traded down $0.01 during mid-day trading on Tuesday, hitting $0.70. The company had a trading volume of 3,248,619 shares, compared to its average volume of 454,421. Biodesix has a 1-year low of $0.64 and a 1-year high of $2.04. The company has a market capitalization of $101.97 million, a PE ratio of -1.80 and a beta of 1.06. The company has a debt-to-equity ratio of 1.30, a current ratio of 3.40 and a quick ratio of 3.40. The business’s 50-day simple moving average is $1.12 and its 200 day simple moving average is $1.42.

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

Insiders Place Their Bets

In other news, CEO Scott Hutton sold 83,660 shares of Biodesix stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $0.92, for a total transaction of $76,967.20. Following the completion of the sale, the chief executive officer now directly owns 701,947 shares of the company’s stock, valued at approximately $645,791.24. The trade was a 10.65 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 128,702 shares of company stock worth $118,406 in the last 90 days. Corporate insiders own 69.20% of the company’s stock.

Hedge Funds Weigh In On Biodesix

Several large investors have recently bought and sold shares of BDSX. Balyasny Asset Management L.P. acquired a new position in shares of Biodesix during the 4th quarter worth about $29,000. Barclays PLC lifted its stake in Biodesix by 1,140.5% during the third quarter. Barclays PLC now owns 23,036 shares of the company’s stock worth $41,000 after purchasing an additional 21,179 shares during the last quarter. Boothbay Fund Management LLC purchased a new stake in Biodesix during the fourth quarter worth approximately $52,000. MYDA Advisors LLC acquired a new position in Biodesix in the fourth quarter valued at approximately $76,000. Finally, Cubist Systematic Strategies LLC increased its stake in Biodesix by 385.9% in the fourth quarter. Cubist Systematic Strategies LLC now owns 51,024 shares of the company’s stock valued at $78,000 after purchasing an additional 40,524 shares during the last quarter. Hedge funds and other institutional investors own 20.96% of the company’s stock.

Biodesix Company Profile

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.