Black Diamond Therapeutics (NASDAQ:BDTX) Given Outperform Rating at Wedbush

Black Diamond Therapeutics (NASDAQ:BDTX)‘s stock had its “outperform” rating reiterated by equities researchers at Wedbush in a research report issued on Wednesday,RTT News reports. They presently have a $11.00 price target on the stock. Wedbush’s price objective would indicate a potential upside of 410.44% from the stock’s previous close.

Several other equities analysts also recently issued reports on BDTX. Stifel Nicolaus lowered their price target on shares of Black Diamond Therapeutics from $16.00 to $15.00 and set a “buy” rating on the stock in a report on Friday, March 7th. HC Wainwright increased their target price on shares of Black Diamond Therapeutics from $11.00 to $12.00 and gave the stock a “buy” rating in a research note on Tuesday. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $14.60.

Black Diamond Therapeutics Stock Up 28.3 %

NASDAQ:BDTX traded up $0.48 on Wednesday, reaching $2.16. 91,938,464 shares of the company’s stock traded hands, compared to its average volume of 1,181,657. Black Diamond Therapeutics has a 12 month low of $1.59 and a 12 month high of $7.66. The stock has a 50-day simple moving average of $2.17 and a 200-day simple moving average of $2.93. The firm has a market cap of $122.11 million, a PE ratio of -1.62 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) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.03. On average, equities analysts anticipate that Black Diamond Therapeutics will post -1.3 earnings per share for the current year.

Hedge Funds Weigh In On Black Diamond Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BDTX. Vestal Point Capital LP lifted its position in shares of Black Diamond Therapeutics by 11.4% during the 4th quarter. Vestal Point Capital LP now owns 5,600,000 shares of the company’s stock worth $11,984,000 after purchasing an additional 571,500 shares during the last quarter. Tang Capital Management LLC raised its holdings in shares of Black Diamond Therapeutics by 51.1% in the fourth quarter. Tang Capital Management LLC now owns 2,070,209 shares of the company’s stock valued at $4,430,000 after buying an additional 700,000 shares during the last quarter. Geode Capital Management LLC raised its holdings in Black Diamond Therapeutics by 1.5% during the fourth quarter. Geode Capital Management LLC now owns 959,316 shares of the company’s stock worth $2,053,000 after purchasing an additional 14,439 shares in the last quarter. Renaissance Technologies LLC raised its holdings in Black Diamond Therapeutics by 256.2% during the fourth quarter. Renaissance Technologies LLC now owns 904,000 shares of the company’s stock worth $1,935,000 after purchasing an additional 650,200 shares in the last quarter. Finally, State Street Corp raised its holdings in Black Diamond Therapeutics by 17.2% during the third quarter. State Street Corp now owns 809,196 shares of the company’s stock worth $3,520,000 after purchasing an additional 118,764 shares in the last quarter. Hedge funds and other institutional investors own 95.47% of the company’s stock.

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.