Black Diamond Therapeutics, Inc. (NASDAQ:BDTX) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Black Diamond Therapeutics, Inc. (NASDAQ:BDTX) have earned an average rating of “Moderate Buy” from the seven ratings firms that are presently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $9.60.

Several research firms have recently issued reports on BDTX. Weiss Ratings restated a “sell (d)” rating on shares of Black Diamond Therapeutics in a research report on Friday. Guggenheim began coverage on Black Diamond Therapeutics in a research report on Wednesday, September 3rd. They issued a “buy” rating and a $8.00 price target on the stock. Wall Street Zen lowered Black Diamond Therapeutics from a “buy” rating to a “hold” rating in a research report on Saturday, August 9th. HC Wainwright reduced their price target on Black Diamond Therapeutics from $12.00 to $10.00 and set a “buy” rating on the stock in a research report on Monday, August 11th. Finally, Raymond James Financial upgraded Black Diamond Therapeutics to an “outperform” rating and set a $11.00 target price on the stock in a report on Tuesday, July 1st.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. DLK Investment Management LLC lifted its holdings in Black Diamond Therapeutics by 26.3% during the second quarter. DLK Investment Management LLC now owns 20,200 shares of the company’s stock worth $50,000 after acquiring an additional 4,200 shares in the last quarter. CWM LLC lifted its holdings in Black Diamond Therapeutics by 212.2% during the second quarter. CWM LLC now owns 14,338 shares of the company’s stock worth $36,000 after acquiring an additional 9,746 shares in the last quarter. R Squared Ltd acquired a new stake in shares of Black Diamond Therapeutics in the 2nd quarter valued at about $25,000. Cerity Partners LLC acquired a new stake in shares of Black Diamond Therapeutics in the 2nd quarter valued at about $26,000. Finally, Hudson Bay Capital Management LP acquired a new stake in shares of Black Diamond Therapeutics in the 2nd quarter valued at about $26,000. 95.47% of the stock is currently owned by institutional investors.

Black Diamond Therapeutics Stock Performance

NASDAQ BDTX opened at $3.93 on Friday. Black Diamond Therapeutics has a 52 week low of $1.20 and a 52 week high of $4.45. The stock has a market capitalization of $223.77 million, a P/E ratio of 17.09 and a beta of 3.07. The stock has a fifty day moving average of $3.39 and a 200-day moving average of $2.65.

Black Diamond Therapeutics (NASDAQ:BDTX) last posted its quarterly earnings results on Thursday, August 7th. The company reported ($0.19) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.25) by $0.06. Equities research analysts forecast that Black Diamond Therapeutics will post -1.3 earnings per share for the current fiscal year.

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.