5 Biotech Stocks to Buy According to Matthew Strobeck’s Birchview Capital

2. Biodesix, Inc. (NASDAQ:BDSX)

Birchview Capital Stake Value: $9,083,000
Percentage of Birchview Capital’s 13F Portfolio: 6.18%
Number of Hedge Fund Holders: 6

Biodesix, Inc. (NASDAQ:BDSX) is a biotechnology business that specializes in blood-based diagnostics for lung disease patients. Biodesix, Inc. (NASDAQ:BDSX) and PierianDx partnered in January to enhance clinical interpretations of mutations discovered by Biodesix, Inc. (NASDAQ:BDSX)’s recently authorized GeneStrat NGS genomic test.

On November 17, Morgan Stanley analyst Tejas Savant downgraded Biodesix, Inc. (NASDAQ:BDSX) to Equal Weight from Overweight and lowered his price objective to $11 from $21. In a research note, Savant warned investors that COVID-19 challenges are causing near-term concern for Biodesix, Inc. (NASDAQ:BDSX)’s core business.

Biodesix, Inc. (NASDAQ:BDSX) was in 6 hedge funds’ portfolios at the end of the third quarter. There were 7 hedge funds in our database with Biodesix, Inc. (NASDAQ:BDSX) holdings at the end of the previous quarter.