Jack W. Schuler, a director and ten percent owner of Biodesix Inc (NASDAQ:BDSX), recently acquired 200,000 shares of the company’s common stock. The shares were purchased at a weighted average price of $1.17 per share, with transaction prices ranging from $1.17 to $1.175. This acquisition, made by the Jack W. Schuler Living Trust, brings Schuler's total holdings to 31,094,935 shares. The transaction was disclosed in a filing with the Securities and Exchange Commission.
In other recent news, Biodesix, Inc., a leading diagnostic company, showcased strong growth in its Q3 earnings call. The company reported a 35% year-over-year increase in revenue, reaching $18.2 million, with a notable 40% rise in lung diagnostic testing revenue to $17.2 million. Biodesix also improved its net loss by 6% to $10.3 million and maintained a robust gross margin of 78.4%. Despite facing operational challenges due to hurricanes and delays in biopharma service projects, the company remains confident in its growth trajectory, reaffirming its full-year revenue guidance of $70 million to $72 million. It also targets an adjusted EBITDA breakeven in the second half of 2025. The company has also introduced new coverage for Nodify tests and presented significant data at the CHEST conference. It ended the quarter with $31.4 million in cash and announced a new $50 million ATM program. These are among the recent developments from Biodesix.
InvestingPro Insights
Jack W. Schuler's recent acquisition of Biodesix Inc (NASDAQ:BDSX) shares comes at a time when the stock appears to be in oversold territory, according to an InvestingPro Tip. This insider purchase may be seen as a vote of confidence in the company's future prospects, despite recent market challenges.
The company's financial health presents a mixed picture. While Biodesix's revenue growth is impressive at 48.92% over the last twelve months, the company is not currently profitable. This aligns with another InvestingPro Tip indicating that Biodesix is quickly burning through cash, which could explain Schuler's decision to increase his stake and potentially provide additional financial support.
Biodesix's stock has taken a significant hit recently, with a 15% decline over the past week and a 25.62% drop in the last month. This downturn might have created an attractive entry point for Schuler, especially considering that the stock is trading at only 54.52% of its 52-week high.
It's worth noting that Biodesix has a high Price to Book ratio of 6.42, suggesting that the market still values the company's future potential despite its current profitability challenges. For investors seeking more comprehensive analysis, InvestingPro offers 7 additional tips for Biodesix, providing a deeper understanding of the company's financial position and market performance.
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