Cannell & Spears Sells Majority Stake in Biodesix

Investment firm reduces holdings in medical diagnostics company by 95%

Mar. 17, 2026 at 8:19am

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Cannell & Spears LLC, an investment management firm, has significantly reduced its stake in Biodesix, Inc. (NASDAQ:BDSX), a medical diagnostics company based in Boulder, Colorado. According to a recent SEC filing, the firm sold 195,326 shares of Biodesix stock, representing a 95% decrease in its holdings.

Why it matters

This transaction highlights the volatility and uncertainty surrounding Biodesix's stock performance, as the company navigates the competitive medical diagnostics market. The significant reduction in Cannell & Spears' position could signal concerns about Biodesix's long-term growth prospects or profitability.

The details

Cannell & Spears previously owned 10,279 shares of Biodesix, representing a 0.13% stake in the company. After the sale, the firm now holds only 10,279 shares, valued at approximately $78,000. The transaction occurred during the third quarter of the year.

  • Cannell & Spears sold 195,326 shares of Biodesix stock during the third quarter of 2026.

The players

Cannell & Spears LLC

An investment management firm that has significantly reduced its stake in Biodesix, Inc.

Biodesix, Inc.

A medical diagnostics company based in Boulder, Colorado that develops and delivers blood-based tests to improve the diagnosis and management of lung diseases, including lung cancer.

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The takeaway

The substantial reduction in Cannell & Spears' position in Biodesix raises questions about the company's long-term prospects and the challenges it faces in the competitive medical diagnostics market. This transaction underscores the need for Biodesix to continue innovating and differentiating its products to maintain investor confidence and drive sustainable growth.