Biodesix, Inc. $BDSX Shares Sold by Opaleye Management Inc.

Opaleye Management Inc. lessened its position in shares of Biodesix, Inc. (NASDAQ:BDSX) by 24.4% during the second quarter, HoldingsChannel reports. The institutional investor owned 180,000 shares of the company’s stock after selling 58,047 shares during the quarter. Opaleye Management Inc.’s holdings in Biodesix were worth $4,059,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in BDSX. XTX Topco Ltd increased its holdings in shares of Biodesix by 99.4% in the 2nd quarter. XTX Topco Ltd now owns 205,647 shares of the company’s stock valued at $58,000 after acquiring an additional 102,494 shares during the last quarter. Cetera Investment Advisers bought a new position in Biodesix during the fourth quarter worth $68,000. DRW Securities LLC bought a new position in Biodesix during the fourth quarter worth $105,000. Allworth Financial LP acquired a new position in Biodesix in the second quarter worth $112,000. Finally, Millennium Management LLC acquired a new position in Biodesix in the third quarter worth $113,000. Institutional investors and hedge funds own 20.96% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on BDSX. Roth Capital assumed coverage on shares of Biodesix in a research note on Wednesday, June 24th. They set a “buy” rating and a $32.00 target price for the company. Weiss Ratings raised shares of Biodesix from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday. HC Wainwright reaffirmed a “buy” rating and set a $27.00 price objective (up from $26.00) on shares of Biodesix in a research report on Thursday, August 6th. Finally, Canaccord Genuity Group increased their price objective on shares of Biodesix from $27.00 to $35.00 and gave the stock a “buy” rating in a research note on Monday, August 10th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $31.33.

Biodesix Stock Performance

BDSX stock opened at $26.04 on Friday. Biodesix, Inc. has a 1 year low of $5.26 and a 1 year high of $31.31. The stock has a market capitalization of $274.72 million, a price-to-earnings ratio of -8.21 and a beta of 0.60. The company has a debt-to-equity ratio of 5.12, a quick ratio of 2.85 and a current ratio of 2.85. The stock’s fifty day moving average is $23.54 and its two-hundred day moving average is $18.27.

Biodesix (NASDAQ:BDSX) last released its quarterly earnings results on Wednesday, August 5th. The company reported ($0.71) EPS for the quarter, topping the consensus estimate of ($0.90) by $0.19. Biodesix had a negative net margin of 26.97% and a negative return on equity of 788.19%. The business had revenue of $26.86 million during the quarter, compared to analyst estimates of $26.03 million. On average, research analysts predict that Biodesix, Inc. will post -2.68 EPS for the current year.

Insider Transactions at Biodesix

In other news, Director Jack Schuler bought 15,000 shares of Biodesix stock in a transaction on Wednesday, August 12th. The stock was purchased at an average cost of $24.47 per share, with a total value of $367,050.00. Following the purchase, the director directly owned 555,810 shares of the company’s stock, valued at approximately $13,600,670.70. This trade represents a 2.77% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Over the last ninety days, insiders have bought 42,600 shares of company stock worth $1,033,062. Insiders own 23.20% of the company’s stock.

Biodesix Profile

Biodesix, Inc is a commercial-stage molecular diagnostics company headquartered in Boulder, Colorado, that develops and delivers blood-based tests to improve the diagnosis and management of lung diseases, including lung cancer. The company integrates advanced proteomic and, more recently, genomic technologies to offer noninvasive testing solutions designed to guide clinical decision-making. Biodesix operates a CLIA-certified and CAP-accredited laboratory, allowing it to process patient samples at scale and maintain rigorous quality standards.

The company’s flagship product, VeriStrat®, is a proteomic test that stratifies patients with non-small cell lung cancer into groups more likely to benefit from specific therapies.