Insider Selling: Biodesix (NASDAQ:BDSX) CEO Sells 1,490 Shares of Stock

Biodesix, Inc. (NASDAQ:BDSX) CEO Scott Hutton sold 1,490 shares of the stock in a transaction dated Monday, February 23rd. The stock was sold at an average price of $12.78, for a total transaction of $19,042.20. Following the sale, the chief executive officer directly owned 48,767 shares in the company, valued at approximately $623,242.26. The trade was a 2.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Scott Hutton also recently made the following trade(s):

• On Tuesday, February 10th, Scott Hutton sold 3,559 shares of Biodesix stock. The stock was sold at an average price of $10.08, for a total transaction of $35,874.72.
• On Friday, January 16th, Scott Hutton sold 970 shares of Biodesix stock. The shares were sold at an average price of $8.15, for a total transaction of $7,905.50.

Biodesix Price Performance

Shares of NASDAQ BDSX traded down $0.42 during mid-day trading on Monday, reaching $12.77. The company’s stock had a trading volume of 99,174 shares, compared to its average volume of 160,620. The stock has a market capitalization of $101.65 million, a P/E ratio of -2.30 and a beta of 0.66. The company has a debt-to-equity ratio of 41.11, a quick ratio of 1.84 and a current ratio of 1.84. Biodesix, Inc. has a 1-year low of $3.44 and a 1-year high of $19.13. The stock has a 50-day moving average of $9.02 and a two-hundred day moving average of $8.21.

Wall Street Analysts Forecast Growth

BDSX has been the topic of a number of research analyst reports. Canaccord Genuity Group reissued a “buy” rating and issued a $20.00 price target on shares of Biodesix in a research note on Tuesday, February 17th. Weiss Ratings reissued a “sell (e+)” rating on shares of Biodesix in a research note on Monday, December 22nd. Finally, Wall Street Zen raised shares of Biodesix from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Four 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. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $32.50.

Hedge Funds Weigh In On Biodesix

Several hedge funds have recently made changes to their positions in the company. Geode Capital Management LLC increased its stake in Biodesix by 5.6% in the fourth quarter. Geode Capital Management LLC now owns 42,453 shares of the company’s stock valued at $289,000 after purchasing an additional 2,235 shares during the period. State Street Corp increased its holdings in Biodesix by 15.6% in the fourth quarter. State Street Corp now owns 17,802 shares of the company’s stock valued at $121,000 after buying an additional 2,400 shares in the last quarter. Cetera Investment Advisers purchased a new position in Biodesix in the 4th quarter valued at approximately $68,000. Monashee Investment Management LLC grew its holdings in Biodesix by 12.3% in the fourth quarter. Monashee Investment Management LLC now owns 112,344 shares of the company’s stock valued at $764,000 after purchasing an additional 12,348 shares during the last quarter. Finally, Millennium Management LLC purchased a new position in shares of Biodesix in the third quarter valued at $113,000. Hedge funds and other institutional investors own 20.96% of the company’s stock.

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.