Biodesix Inc's (NASDAQ:BDSX) Chief Accounting Officer, Chris Vazquez, has recently conducted a sale of company shares to cover tax obligations. The transaction involved the automatic sale of 244 shares of common stock at an average price of $1.4795, totaling around $360.
The shares sold on May 9 were part of an automatic process to cover taxes associated with the vesting of Restricted Stock Units (RSUs). The sales occurred at varying prices ranging from $1.43 to $1.53. Vazquez has committed to providing detailed information about the specific prices of shares sold within this range upon request.
This sale follows a vesting event of RSUs, which are typically granted to employees as part of their compensation and represent a right to receive shares of the company's stock upon meeting certain conditions. According to the footnotes in the SEC filing, these RSUs vest quarterly over a period, contingent on the employee's continued service with the company. The RSUs in question began vesting on February 8, 2022, and do not have an expiration date.
After the recent transactions, Vazquez holds a total of 9,915 shares of common stock in Biodesix directly. Additionally, it was noted in the filing that a previous Form 4 had inadvertently reported the sale of an aggregate of 10 shares, which have now been included in the updated share ownership total.
Investors often monitor insider transactions as they can provide insights into executives' perspectives on the company's stock value. The sale of shares to cover tax obligations is a common practice and does not necessarily indicate a lack of confidence in the company's future performance.
InvestingPro Insights
Amidst the recent insider transactions at Biodesix Inc (NASDAQ:BDSX), current market data and analytics provide a broader context for investors. According to InvestingPro, Biodesix Inc's market capitalization stands at approximately $179.53 million, reflecting the company's valuation in the market. Despite the company's significant revenue growth over the last twelve months, with a 34.7% increase, Biodesix Inc is not currently profitable, as indicated by a negative P/E ratio of -2.88. This financial metric suggests that the company is incurring losses relative to its share price.
InvestingPro Tips highlight a few noteworthy points for prospective and current investors. Biodesix Inc's stock has experienced a strong return over the last month, with a 26.02% increase, and a notable price uptick over the last six months, showing a 29.17% return. Additionally, the Relative Strength Index (RSI) suggests that the stock is currently in overbought territory. This information could be particularly valuable for investors trying to gauge the stock's current momentum and future potential.
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