Biodesix (NASDAQ:BDSX) Releases Quarterly Earnings Results, Misses Expectations By $0.12 EPS

Biodesix (NASDAQ:BDSX – Get Rating) announced its quarterly earnings data on Wednesday. The company reported ($0.50) earnings per share for the quarter, missing the consensus estimate of ($0.38) by ($0.12), MarketWatch Earnings reports. During the same quarter in the previous year, the company earned ($0.23) earnings per share. Biodesix updated its FY 2022 guidance to EPS.

BDSX opened at $1.82 on Friday. The business’s 50 day moving average is $1.84 and its 200-day moving average is $3.87. Biodesix has a twelve month low of $1.31 and a twelve month high of $16.40.

Several brokerages recently issued reports on BDSX. Cowen began coverage on Biodesix in a research note on Wednesday, April 20th. They set an “outperform” rating on the stock. Cowen initiated coverage on shares of Biodesix in a report on Wednesday, April 20th. They issued an “outperform” rating for the company. BTIG Research reiterated a “buy” rating and set a $10.00 price objective (down previously from $17.00) on shares of Biodesix in a research note on Thursday, April 14th. Zacks Investment Research cut shares of Biodesix from a “buy” rating to a “hold” rating in a report on Thursday, March 17th. Finally, Canaccord Genuity Group lowered their target price on Biodesix from $10.00 to $7.00 in a report on Thursday. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $10.75.

In other Biodesix news, Chairman John Patience purchased 279,329 shares of the stock in a transaction dated Thursday, April 7th. The shares were bought at an average cost of $1.79 per share, with a total value of $499,998.91. Following the completion of the acquisition, the chairman now owns 337,926 shares of the company’s stock, valued at $604,887.54. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, Director Matthew Strobeck acquired 558,659 shares of the business’s stock in a transaction that occurred on Thursday, April 7th. The shares were bought at an average price of $1.79 per share, for a total transaction of $999,999.61. The disclosure for this purchase can be found here. Insiders sold a total of 20,146 shares of company stock valued at $36,867 over the last three months. Corporate insiders own 49.80% of the company’s stock.

A number of large investors have recently made changes to their positions in BDSX. Morgan Stanley lifted its position in Biodesix by 148.9% in the third quarter. Morgan Stanley now owns 108,523 shares of the company’s stock worth $892,000 after purchasing an additional 64,919 shares during the period. Millennium Management LLC acquired a new stake in shares of Biodesix in the fourth quarter valued at $275,000. Two Sigma Investments LP bought a new position in Biodesix during the third quarter valued at about $321,000. Two Sigma Advisers LP acquired a new position in Biodesix during the third quarter worth about $156,000. Finally, Geode Capital Management LLC grew its holdings in Biodesix by 6.6% during the fourth quarter. Geode Capital Management LLC now owns 160,940 shares of the company’s stock worth $851,000 after acquiring an additional 9,917 shares during the period. 85.26% of the stock is currently owned by hedge funds and other institutional investors.

About Biodesix (Get Rating)

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.

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