Biodesix (NASDAQ:BDSX) Research Coverage Started at Lake Street Capital

Lake Street Capital assumed coverage on shares of Biodesix (NASDAQ:BDSX) in a report released on Friday, MarketBeat Ratings reports. The brokerage issued a buy rating and a $3.00 price objective on the stock.

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

Biodesix Stock Performance

Shares of NASDAQ BDSX opened at $1.40 on Friday. Biodesix has a 12 month low of $1.03 and a 12 month high of $2.21. The company has a market cap of $160.57 million, a P/E ratio of -2.15 and a beta of 1.15. The business’s 50 day moving average is $1.39 and its two-hundred day moving average is $1.57. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 7.69.

Biodesix (NASDAQ:BDSX) last announced its quarterly earnings data on Friday, March 1st. The company reported ($0.10) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.11) by $0.01. The business had revenue of $14.67 million for the quarter, compared to the consensus estimate of $15.76 million. Biodesix had a negative net margin of 106.23% and a negative return on equity of 29,379.44%. On average, equities analysts expect that Biodesix will post -0.44 EPS for the current year.

Insider Buying and Selling

In other news, CEO Scott Hutton sold 29,708 shares of the stock in a transaction on Monday, February 12th. The shares were sold at an average price of $1.66, for a total value of $49,315.28. Following the completion of the transaction, the chief executive officer now owns 465,011 shares in the company, valued at approximately $771,918.26. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders 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 added to or reduced their stakes in BDSX. Oracle Investment Management Inc. bought a new position in shares of Biodesix during the third quarter valued at $69,000. Opaleye Management Inc. increased its position in shares of Biodesix by 9.0% during the 4th quarter. Opaleye Management Inc. now owns 496,500 shares of the company’s stock worth $914,000 after purchasing an additional 40,927 shares in the last quarter. Finally, Essex Investment Management Co. LLC lifted its holdings in Biodesix by 1.4% during the 1st quarter. Essex Investment Management Co. LLC now owns 925,614 shares of the company’s stock valued at $1,324,000 after purchasing an additional 12,669 shares during the last quarter. 20.96% of the stock is owned by institutional investors and hedge funds.

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.