Biodesix’s (BDSX) Buy Rating Reiterated at Canaccord Genuity Group

Canaccord Genuity Group restated their buy rating on shares of Biodesix (NASDAQ:BDSX) in a report released on Tuesday morning,Benzinga reports. Canaccord Genuity Group currently has a $20.00 target price on the stock.

A number of other research firms have also weighed in on BDSX. Wall Street Zen upgraded shares of Biodesix from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Biodesix in a report on Monday, December 22nd. Four research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Biodesix currently has an average rating of “Moderate Buy” and an average price target of $32.50.

Biodesix Price Performance

Shares of NASDAQ BDSX opened at $12.75 on Tuesday. Biodesix has a 52 week low of $3.44 and a 52 week high of $19.80. The business’s 50 day moving average price is $8.81 and its 200 day moving average price is $8.14. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 41.11. The firm has a market cap of $101.49 million, a P/E ratio of -2.29 and a beta of 0.67.

Insider Buying and Selling at Biodesix

In other news, Director Jack W. Schuler acquired 20,000 shares of the firm’s stock in a transaction on Monday, January 26th. The stock was acquired at an average price of $11.80 per share, for a total transaction of $236,000.00. Following the completion of the transaction, the director owned 1,563,210 shares in the company, valued at approximately $18,445,878. The trade was a 1.30% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Scott Hutton sold 3,559 shares of the stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $10.08, for a total transaction of $35,874.72. Following the sale, the chief executive officer directly owned 45,413 shares in the company, valued at approximately $457,763.04. The trade was a 7.27% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have purchased 182,465 shares of company stock worth $2,084,616 and have sold 7,672 shares worth $73,576. 30.10% of the stock is currently owned by company insiders.

Institutional Trading of Biodesix

Several institutional investors have recently bought and sold shares of the business. XTX Topco Ltd raised its stake in shares of Biodesix by 99.4% during the 2nd quarter. XTX Topco Ltd now owns 205,647 shares of the company’s stock worth $58,000 after buying an additional 102,494 shares during the period. Cetera Investment Advisers purchased a new stake in Biodesix in the 4th quarter worth $68,000. DRW Securities LLC purchased a new stake in Biodesix in the 4th quarter worth $105,000. Oracle Investment Management Inc. acquired a new position in Biodesix during the third quarter worth $113,000. Finally, Millennium Management LLC purchased a new position in Biodesix during the third quarter valued at $113,000. 20.96% of the stock is owned by institutional investors and hedge funds.

About Biodesix

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.