Wilmington Savings Fund Society FSB Takes Position in Biodesix, Inc. (NASDAQ:BDSX)

Wilmington Savings Fund Society FSB acquired a new position in shares of Biodesix, Inc. (NASDAQ:BDSX - Free Report) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 6,095,034 shares of the company's stock, valued at approximately $10,849,000. Wilmington Savings Fund Society FSB owned about 4.19% of Biodesix at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the company. AIGH Capital Management LLC boosted its holdings in Biodesix by 74.0% during the 2nd quarter. AIGH Capital Management LLC now owns 5,779,812 shares of the company's stock worth $8,843,000 after acquiring an additional 2,458,727 shares during the last quarter. Perceptive Advisors LLC purchased a new position in shares of Biodesix in the 2nd quarter worth about $3,326,000. Farallon Capital Management LLC purchased a new position in shares of Biodesix in the 2nd quarter worth about $2,874,000. Geode Capital Management LLC boosted its holdings in shares of Biodesix by 50.7% in the 3rd quarter. Geode Capital Management LLC now owns 804,576 shares of the company's stock worth $1,433,000 after buying an additional 270,724 shares during the last quarter. Finally, Perkins Capital Management Inc. boosted its holdings 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 worth $1,290,000 after buying an additional 310,000 shares during the last quarter. 20.96% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Biodesix

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

Analysts Set New Price Targets

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

Biodesix Stock Performance

Biodesix stock traded down $0.01 during midday trading on Thursday, reaching $1.29. The stock had a trading volume of 166,783 shares, compared to its average volume of 211,850. Biodesix, Inc. has a 12 month low of $1.11 and a 12 month high of $2.21. The firm's 50-day moving average price is $1.47 and its 200 day moving average price is $1.59. The firm has a market capitalization of $187.65 million, a PE ratio of -3.33 and a beta of 1.14. The company has a quick ratio of 3.40, a current ratio of 3.40 and a debt-to-equity ratio of 1.30.

Biodesix (NASDAQ:BDSX - Get Free Report) last announced its quarterly earnings data on Friday, November 1st. The company reported ($0.07) earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of ($0.07). Biodesix had a negative return on equity of 275.79% and a negative net margin of 66.84%. The business had revenue of $18.15 million for the quarter, compared to analysts' expectations of $18.45 million. During the same period in the previous year, the business posted ($0.12) EPS. As a group, research analysts predict that Biodesix, Inc. will post -0.35 earnings per share for the current fiscal year.

Biodesix 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.