Walleye Capital LLC Makes New $1.68 Million Investment in Biodesix, Inc. $BDSX

Walleye Capital LLC bought a new stake in Biodesix, Inc. (NASDAQ:BDSX) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 74,447 shares of the company’s stock, valued at approximately $1,679,000. Walleye Capital LLC owned about 0.72% of Biodesix at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in BDSX. AIGH Capital Management LLC bought a new stake in shares of Biodesix during the first quarter worth about $10,996,000. XTX Topco Ltd raised its holdings in 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 buying an additional 102,494 shares during the last quarter. Monashee Investment Management LLC raised its holdings in Biodesix by 12.3% in the 4th quarter. Monashee Investment Management LLC now owns 112,344 shares of the company’s stock valued at $764,000 after buying an additional 12,348 shares during the last quarter. Stempoint Capital LP acquired a new stake in Biodesix during the 1st quarter worth approximately $1,015,000. Finally, Sei Investments Co. acquired a new stake in Biodesix during the 1st quarter worth approximately $624,000. 20.96% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

BDSX has been the subject of several recent research reports. HC Wainwright restated a “buy” rating and issued a $27.00 price target (up from $26.00) on shares of Biodesix in a research report on Thursday, August 6th. Canaccord Genuity Group raised their price target on shares of Biodesix from $27.00 to $35.00 and gave the company a “buy” rating in a research note on Monday, August 10th. Weiss Ratings upgraded shares of Biodesix from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, June 12th. Finally, Roth Capital initiated coverage on shares of Biodesix in a research note on Wednesday, June 24th. They issued a “buy” rating and a $32.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, Biodesix presently has a consensus rating of “Moderate Buy” and a consensus target price of $31.33.

Biodesix Price Performance

Shares of BDSX opened at $24.00 on Friday. The business has a 50-day moving average of $20.50 and a 200-day moving average of $16.19. The company has a debt-to-equity ratio of 5.12, a current ratio of 2.85 and a quick ratio of 2.85. The company has a market capitalization of $253.20 million, a price-to-earnings ratio of -7.57 and a beta of 0.56. Biodesix, Inc. has a 1 year low of $5.26 and a 1 year high of $25.52.

Biodesix (NASDAQ:BDSX) last announced its earnings results on Wednesday, August 5th. The company reported ($0.71) EPS for the quarter, beating the consensus estimate of ($0.90) by $0.19. The business had revenue of $26.86 million for the quarter, compared to analysts’ expectations of $26.03 million. Biodesix had a negative return on equity of 788.19% and a negative net margin of 26.97%. As a group, equities research analysts anticipate that Biodesix, Inc. will post -2.68 earnings per share for the current year.

Insider Activity

In other news, Director Jack W. Schuler acquired 15,000 shares of Biodesix stock in a transaction dated Wednesday, August 12th. The shares were bought at an average cost of $24.47 per share, with a total value of $367,050.00. Following the purchase, the director owned 555,810 shares in the company, valued at $13,600,670.70. This trade represents a 2.77% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. In the last 90 days, insiders have purchased 42,600 shares of company stock valued at $1,033,062. 23.20% of the stock is currently owned by insiders.

Biodesix Company 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.