Perkins Capital Management Inc. Grows Holdings in Biodesix, Inc. (NASDAQ:BDSX)

Perkins Capital Management Inc. raised its position in shares of Biodesix, Inc. (NASDAQ:BDSX) by 46.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,060,211 shares of the company’s stock after purchasing an additional 335,429 shares during the quarter. Biodesix accounts for about 1.4% of Perkins Capital Management Inc.’s investment portfolio, making the stock its 23rd largest position. Perkins Capital Management Inc.’s holdings in Biodesix were worth $1,622,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Barclays PLC raised its position in shares of Biodesix by 1,140.5% during the 3rd quarter. Barclays PLC now owns 23,036 shares of the company’s stock valued at $41,000 after purchasing an additional 21,179 shares during the period. HighTower Advisors LLC increased its stake in Biodesix by 17.1% in the 4th quarter. HighTower Advisors LLC now owns 153,934 shares of the company’s stock worth $236,000 after buying an additional 22,500 shares in the last quarter. Landscape Capital Management L.L.C. bought a new stake in Biodesix during the third quarter valued at about $262,000. Stephens Inc. AR purchased a new position in shares of Biodesix in the fourth quarter valued at about $303,000. Finally, Geode Capital Management LLC boosted its stake in shares of Biodesix by 50.7% in the third quarter. Geode Capital Management LLC now owns 804,576 shares of the company’s stock worth $1,433,000 after acquiring an additional 270,724 shares during the period. 20.96% of the stock is currently owned by institutional investors.

Biodesix Stock Performance

Shares of NASDAQ BDSX opened at $0.85 on Monday. The firm’s fifty day moving average is $0.93 and its two-hundred day moving average is $1.32. Biodesix, Inc. has a 52-week low of $0.64 and a 52-week high of $2.04. The company has a market cap of $123.54 million, a P/E ratio of -2.17 and a beta of 1.10. 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 (NASDAQ:BDSX) last announced its quarterly 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 firm had revenue of $20.43 million during the quarter, compared to the consensus estimate of $19.92 million. Biodesix had a negative net margin of 66.84% and a negative return on equity of 275.79%. As a group, analysts anticipate that Biodesix, Inc. will post -0.35 EPS for the current fiscal year.

Insider Activity

In related news, CEO Scott Hutton sold 83,660 shares of the stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $0.92, for a total transaction of $76,967.20. Following the sale, the chief executive officer now owns 701,947 shares in the company, valued at approximately $645,791.24. This represents a 10.65 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders sold 128,702 shares of company stock valued at $118,406 in the last ninety days. Insiders own 69.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, William Blair reissued an “outperform” rating on shares of Biodesix in a research note on Tuesday, March 4th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $2.95.

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.