A significant driver of top-line growth: Biodesix Inc. (BDSX)

Biodesix Inc. (NASDAQ: BDSX) stock jumped 1.35% on Wednesday to $1.50 against a previous-day closing price of $1.48. With 0.2 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.19 million shares. During the session, the Diagnostics & Research company that operates in wider Healthcare sector, reached to the highest price of $1.5200 whereas the lowest price it dropped to was $1.4502. The 52-week range on BDSX shows that it touched its highest point at $7.20 and its lowest point at $0.95 during that stretch. It currently has a 1-year price target of $5.00.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of BDSX was up-trending over the past week, with a rise of 30.43%, but this was up by 44.23% over a month. Three-month performance dropped to -19.35% while six-month performance rose 7.91%. The stock lost -76.15% in the past year, while it has lost -71.64% so far this year. A look at the trailing 12-month EPS for BDSX yields -1.73 with Next year EPS estimates of -1.07. For the next quarter, that number is -0.33. This implies an EPS growth rate of -33.60% for this year and 31.00% for next year.

Float and Shares Shorts:

At present, 40.45 million BDSX shares are outstanding with a float of 14.81 million shares on hand for trading. On Oct 13, 2022, short shares totaled 0.23 million, which was 0.59% higher than short shares on Sep 14, 2022. In addition to Mr. Scott Hutton as the firm’s Pres, CEO & Director, Ms. Robin Harper Cowie serves as its CFO, Sec. & Treasurer.

Institutional Ownership:

Through their ownership of 9.27% of BDSX’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 9.21% of BDSX, in contrast to 81.35% held by mutual funds. Shares owned by individuals account for 1.29%. As the largest shareholder in BDSX with 4.53% of the stake, Birchview Capital LP holds 1,811,412 shares worth 1,811,412. A second-largest stockholder of BDSX, Wells Fargo Clearing Services LLC, holds 768,725 shares, controlling over 1.92% of the firm’s shares. Essex Investment Management Co. L is the third largest shareholder in BDSX, holding 378,023 shares or 0.95% stake. With a 0.42% stake in BDSX, the Vanguard Total Stock Market Index is the largest stakeholder. A total of 166,976 shares are owned by the mutual fund manager. The Bridgeway Ultra Small Company Mar, which owns about 0.23% of BDSX stock, is the second-largest Mutual Fund holder. It holds 91,800 shares valued at 92718.0. Vanguard Extended Market Index Fu holds 0.17% of the stake in BDSX, owning 69,132 shares worth 69823.0.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for BDSX since 4 analysts follow the stock currently. There are 3 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 1 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With BDSX analysts setting a high price target of $5.00 and a low target of $5.00, the average target price over the next 12 months is $5.00. Based on these targets, BDSX could surge 233.33% to reach the target high and rise by 233.33% to reach the target low. Reaching the average price target will result in a growth of 233.33% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. BDSX will report FY 2022 earnings on 03/14/2023. Analysts have provided yearly estimates in a range of -$1.24 being high and -$1.56 being low. For BDSX, this leads to a yearly average estimate of -$1.47. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Biodesix Inc. surprised analysts by -$0.01 when it reported -$0.34 EPS against a consensus estimate of -$0.33. The surprise factor in the prior quarter was $0.07. Based on analyst estimates, the high estimate for the next quarter is -$0.18 and the low estimate is -$0.34. The average estimate for the next quarter is thus -$0.29.

Summary of Insider Activity:

Insiders traded BDSX stock several times over the past three months with 0 Buys and 0 Sells. In these transactions, 0 shares were bought while 0 shares were sold. The number of buy transactions has increased to 25 while that of sell transactions has risen to 12 over the past year. The total number of shares bought during that period was 8,725,279 while 47,337 shares were sold.

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