Geode Capital Management LLC Has $1.43 Million Stock Position in Biodesix, Inc. (NASDAQ:BDSX)

Geode Capital Management LLC raised its holdings in Biodesix, Inc. (NASDAQ:BDSX) by 50.7% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 804,576 shares of the company’s stock after purchasing an additional 270,724 shares during the quarter. Geode Capital Management LLC owned 0.55% of Biodesix worth $1,433,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of BDSX. Barclays PLC boosted its stake in Biodesix by 1,140.5% in the third quarter. Barclays PLC now owns 23,036 shares of the company’s stock valued at $41,000 after buying an additional 21,179 shares in the last quarter. Landscape Capital Management L.L.C. bought a new position in shares of Biodesix in the third quarter worth about $262,000. Perkins Capital Management Inc. boosted its stake in shares of Biodesix by 74.7% in the 3rd quarter. Perkins Capital Management Inc. now owns 724,782 shares of the company’s stock valued at $1,290,000 after purchasing an additional 310,000 shares in the last quarter. Perceptive Advisors LLC bought a new stake in shares of Biodesix during the 2nd quarter valued at approximately $3,326,000. Finally, CVI Holdings LLC acquired a new position in Biodesix during the 2nd quarter worth approximately $59,000. Institutional investors own 20.96% of the company’s stock.

Biodesix Stock Performance

Biodesix stock opened at $1.48 on Friday. The business has a 50 day moving average of $1.39 and a 200-day moving average of $1.59. The company has a market capitalization of $215.29 million, a P/E ratio of -3.79 and a beta of 1.10. Biodesix, Inc. has a 1 year low of $1.11 and a 1 year high of $2.21. The company has a debt-to-equity ratio of 1.30, a current ratio of 3.40 and a quick ratio of 3.40.

Biodesix (NASDAQ:BDSX) last posted its earnings results on Friday, November 1st. The company reported ($0.07) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.07). The firm had revenue of $18.15 million for the quarter, compared to analyst estimates of $18.45 million. Biodesix had a negative net margin of 66.84% and a negative return on equity of 275.79%. During the same period in the previous year, the firm posted ($0.12) EPS. On average, equities research analysts predict that Biodesix, Inc. will post -0.35 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, Scotiabank initiated coverage on shares of Biodesix in a research report on Monday, September 16th. They issued a “sector outperform” rating and a $3.00 target price on the stock. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $3.06.

Insider Activity at Biodesix

In other news, Director Jack W. Schuler bought 200,000 shares of the stock in a transaction that occurred on Wednesday, November 20th. The stock was acquired at an average price of $1.17 per share, with a total value of $234,000.00. Following the completion of the purchase, the director now directly owns 31,094,935 shares of the company’s stock, valued at approximately $36,381,073.95. This represents a 0.65 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, Director Matthew Strobeck purchased 40,000 shares of the business’s stock in a transaction on Tuesday, November 5th. The shares were purchased at an average cost of $1.40 per share, for a total transaction of $56,000.00. Following the transaction, the director now directly owns 2,606,879 shares of the company’s stock, valued at approximately $3,649,630.60. The trade was a 1.56 % increase in their position. The disclosure for this purchase can be found here. Insiders purchased 315,000 shares of company stock worth $393,500 over the last three months. Company insiders own 69.20% of the company’s stock.

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.