Biodesix Inc (NASDAQ:BDSX) Chief Commercial Officer Kieran O'Kane sold company shares valued at more than $690, according to a recent SEC filing. The transaction occurred automatically to cover taxes upon the vesting of restricted stock units (RSUs).
On May 9, 2024, O'Kane disposed of 468 shares of common stock at a weighted average price of $1.4795 per share. The shares sold in multiple transactions ranged from $1.43 to $1.53. The total value of the shares sold was approximately $692. This sale was part of an automatic process to cover tax obligations related to the vesting of RSUs.
The filing also indicated that O'Kane's post-transaction ownership stands at 75,524 shares of common stock. These holdings are in addition to an aggregate of 59 shares that were previously reported as sold in February 2024 but were inadvertently included in the count, as well as 6,439 shares purchased under Biodesix's Employee Stock Purchase Plan on February 29, 2024.
Furthermore, the same filing revealed that O'Kane acquired 1,489 RSUs, which represent a contingent right to receive one share of Biodesix's common stock for each unit. These RSUs are part of a vesting schedule that began on February 8, 2022, and do not have an expiration date.
Biodesix, headquartered in Boulder, Colorado, specializes in medical laboratory services and is known for its work in the diagnostics space. The company's stock trades under the ticker BDSX on the NASDAQ exchange.
InvestingPro Insights
As Biodesix Inc (NASDAQ:BDSX) navigates the complexities of the market, recent transactions by Chief Commercial Officer Kieran O'Kane have shed light on the company's stock activity. To further understand the financial health and market position of Biodesix, a look at the real-time data and InvestingPro Tips can offer additional context.
According to InvestingPro data, Biodesix has a market capitalization of $179.53 million, reflecting the company's size and market value as of the first quarter of 2024. Despite the company's significant revenue growth of 34.7% over the last twelve months, it has not yet achieved profitability, as indicated by a negative P/E ratio of -3.82. Moreover, the company's gross profit margin stands at a strong 76.27%, suggesting that Biodesix has been effective in managing the cost of goods sold relative to its revenue.
InvestingPro Tips highlight the stock's significant return over the last week, with a 10.71% price total return, and an even stronger return over the last month at 26.02%. This suggests a recent uptrend in the stock's performance. However, it's important to note that the company is quickly burning through cash, which could be a concern for potential investors. Additionally, the relative strength index (RSI) suggests that the stock is currently in overbought territory, which could indicate a potential pullback in the near term.
For investors seeking a comprehensive analysis of Biodesix's stock, there are additional InvestingPro Tips available, which can be accessed by visiting the dedicated page for BDSX on InvestingPro. With the use of the coupon code PRONEWS24, readers can enjoy an additional 10% off a yearly or biyearly Pro and Pro+ subscription, providing access to an extensive range of financial tools and insights.
It's worth noting that Biodesix does not pay a dividend to shareholders, which may influence the investment strategy for those seeking regular income from their stock holdings. As the company continues to grow and evolve, staying informed with the latest data and expert analysis from InvestingPro could be crucial for making informed investment decisions.
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