HC Wainwright Issues Positive Forecast for Black Diamond Therapeutics (NASDAQ:BDTX) Stock Price

Black Diamond Therapeutics (NASDAQ:BDTX) had its price objective hoisted by research analysts at HC Wainwright from $11.00 to $12.00 in a report issued on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock.

Several other research analysts have also commented on BDTX. Wedbush restated an “outperform” rating and set a $11.00 price target (down previously from $16.00) on shares of Black Diamond Therapeutics in a research note on Friday, March 7th. Stifel Nicolaus lowered their target price on shares of Black Diamond Therapeutics from $16.00 to $15.00 and set a “buy” rating on the stock in a research report on Friday, March 7th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $14.60.

Black Diamond Therapeutics Price Performance

Shares of NASDAQ BDTX opened at $1.71 on Tuesday. Black Diamond Therapeutics has a one year low of $1.59 and a one year high of $7.66. The business’s 50-day moving average price is $2.18 and its two-hundred day moving average price is $2.97. The company has a market capitalization of $96.89 million, a P/E ratio of -1.29 and a beta of 2.52.

Black Diamond Therapeutics (NASDAQ:BDTX) last announced its quarterly earnings results on Thursday, March 6th. The company reported ($0.28) EPS for the quarter, beating the consensus estimate of ($0.31) by $0.03. On average, equities analysts anticipate that Black Diamond Therapeutics will post -1.3 EPS for the current year.

Institutional Trading of Black Diamond Therapeutics

Several large investors have recently modified their holdings of BDTX. D. E. Shaw & Co. Inc. bought a new position in Black Diamond Therapeutics in the 4th quarter worth $37,000. Intech Investment Management LLC grew its position in shares of Black Diamond Therapeutics by 49.1% in the fourth quarter. Intech Investment Management LLC now owns 19,247 shares of the company’s stock valued at $41,000 after purchasing an additional 6,340 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Black Diamond Therapeutics by 429.6% in the fourth quarter. JPMorgan Chase & Co. now owns 18,929 shares of the company’s stock worth $41,000 after purchasing an additional 15,355 shares during the period. SG Americas Securities LLC acquired a new position in shares of Black Diamond Therapeutics during the 4th quarter worth about $42,000. Finally, Wells Fargo & Company MN lifted its position in shares of Black Diamond Therapeutics by 41.8% during the 4th quarter. Wells Fargo & Company MN now owns 20,119 shares of the company’s stock worth $43,000 after purchasing an additional 5,932 shares during the last quarter. 95.47% of the stock is owned by institutional investors.

About Black Diamond Therapeutics

Black Diamond Therapeutics, Inc, a clinical-stage oncology medicine company, focuses on the discovery and development of MasterKey therapies for patients with genetically defined tumors. The company's lead product candidate is BDTX-1535, a brain-penetrant epidermal growth factor receptor MasterKey inhibitor, which is in phase 2 clinical trial for the treatment of epidermal growth factor receptor mutant non-small cell lung cancer, as well as phase 1 clinical trial to treat glioblastoma.