Black Diamond Therapeutics, Inc. (NASDAQ:BDTX) Given Average Rating of “Buy” by Analysts

Black Diamond Therapeutics, Inc. (NASDAQ:BDTX) has received a consensus recommendation of “Buy” from the five research firms that are currently covering the stock, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a buy rating. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $14.60.

Several research analysts have commented on the stock. Wall Street Zen upgraded shares of Black Diamond Therapeutics from a “hold” rating to a “buy” rating in a report on Thursday, May 22nd. Wedbush reissued an “outperform” rating and issued a $11.00 price target on shares of Black Diamond Therapeutics in a research note on Wednesday, March 19th. Stifel Nicolaus cut their price objective on 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. Finally, HC Wainwright upped their target price on Black Diamond Therapeutics from $11.00 to $12.00 and gave the stock a “buy” rating in a report on Tuesday, March 18th.

Black Diamond Therapeutics Trading Down 2.4%

Shares of NASDAQ:BDTX opened at $2.01 on Thursday. The company has a market cap of $114.29 million, a price-to-earnings ratio of -1.51 and a beta of 2.63. Black Diamond Therapeutics has a 12 month low of $1.20 and a 12 month high of $6.75. The company has a 50-day moving average price of $1.64 and a 200-day moving average price of $2.07.

Black Diamond Therapeutics (NASDAQ:BDTX) last released its quarterly earnings results on Thursday, March 6th. The company reported ($0.28) EPS for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.03. As a group, research analysts forecast that Black Diamond Therapeutics will post -1.3 EPS for the current fiscal year.

Insider Activity at Black Diamond Therapeutics

In other Black Diamond Therapeutics news, major shareholder Growth N. V. Biotech sold 5,784,292 shares of the firm’s stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $2.07, for a total transaction of $11,973,484.44. Following the completion of the transaction, the insider now owns 2,733,547 shares of the company’s stock, valued at approximately $5,658,442.29. This trade represents a 67.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 8.87% of the stock is currently owned by corporate insiders.

Institutional Trading of Black Diamond Therapeutics

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

Black Diamond Therapeutics Company Profile

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.