Technicals Say Biodesix Inc. (BDSX) Is Worth Holding

As of Wednesday close, Biodesix Inc.’s (NASDAQ:BDSX) stock was up $0.44, moving up 7.00 percent to $6.73. The average number of shares traded per day over the past five days has been 184,180 shares. 3 times new highs have been achieved over the past 5 days, with a $0.20 gain in that time frame. In the last twenty days, the average volume was 92,065, while in the previous 50 days, it was 65,294.

Since last month, BDSX stock retreated -10.98%. Shares of the company fell to $5.73 on 11/23/21, the lowest level in the past month. A 52-week high of $31.99 was reached on 01/20/21 after having rallying from a 52-week low of $5.73. Since the beginning of this year, BDSX’s stock price has dropped by -66.62% or -$13.43, and marked a new high 8 times. However, the stock has declined by -78.96% since its 52-week high.

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Insider Transactions

Biodesix Inc. (BDSX) last reported insider trading activity 2 days ago on Nov 23. PATIENCE JOHN, the Chairman of the company, purchased of 10,000 shares for $6.18 on Nov 23. It resulted in a $61,753 investment by the insider. SCHULER JACK W added 20,000 shares at an average price of $6.34 on Nov 22. The insider now owns 6,164,314 shares following the transaction. On Nov 19, Director SCHULER JACK W bought 60,000 shares at $6.50 apiece. The transaction was valued at $390,186.

In the three months ended June 29, Biodesix Inc.’s quick ratio stood at 3.20, while its current ratio was 3.20, showing that the company is able to pay off its debt. According to company report, the long-term debt-to-equity ratio for the quarter ending June 29 was 1.16, and the total debt-to-equity ratio was 1.28. On the profitability front, the trailing twelve-month gross margin is 43.00% percent.

Earnings Surprise

In Biodesix Inc.’s quarter-end financial report for June 29, it reported total debt of $29.98 million. BDSX’s revenue fell -40.74% to $11.89 million during the quarter, while net income inched up to $6.53 million. While analysts expected Biodesix Inc. to report -$0.29 quarterly earnings, the actual figure was -$0.41 per share, beating the consensus estimate by -41.40%.

Technical Picture

This quick technical analysis looks at Biodesix Inc.’s (BDSX) price momentum. With a historical volatility rate of 88.59%, the RSI 9-day stood at 44.10% on 24 November.

With respect to its five-day moving average, the current Biodesix Inc. price is up by +3.06% percent or $0.20. At present, BDSX shares trade -6.53% below its 20-day simple moving average and -42.97% percent below its 100-day simple moving average. However, the stock is currently trading approximately -24.80% below its SMA50 and -72.18% below its SMA200.

Stochastic coefficient K was 20.63% and Stochastic coefficient D was 14.83%, while ATR was 0.55. Given the Stochastic reading of 38.20% for the 14-day period, the RSI (14) reading has been calculated as 42.83%. As of today, the MACD Oscillator reading stands at -0.38, while the 14-day reading stands at -0.76.

Analyst Ratings

Biodesix Inc. downgraded its rating on Biodesix Inc. (NASDAQ: BDSX) to an Equal-weight in a note to investors on November 17, 2021. The analysts firm previously had an Overweight rating on the stock.Biodesix Inc. (BDSX) has been rated Overweight by analysts. According to 0 brokerage firms, BDSX is a sell, and 1 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 0 analysts rate Biodesix Inc. stock as buy, with 3 recommending it as overweight.

What is BDSX’s price target for the next 12 months?

With a median target price of $17.00, the current consensus forecast for the stock is $11.00 – $22.00. Based on these forecasts, analysts predict Biodesix Inc. (BDSX) will achieve an average price target of $16.67.


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