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

Shares of Black Diamond Therapeutics, Inc. (NASDAQ:BDTX) have earned an average recommendation of “Moderate Buy” from the eight brokerages that are currently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, two have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $9.50.

Several equities analysts recently weighed in on the company. Zacks Research downgraded Black Diamond Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 10th. Stifel Nicolaus assumed coverage on Black Diamond Therapeutics in a research report on Wednesday, October 15th. They issued a “buy” rating and a $8.00 price target for the company. Piper Sandler began coverage on Black Diamond Therapeutics in a research note on Tuesday, November 18th. They issued an “overweight” rating and a $9.00 price objective on the stock. Weiss Ratings reiterated a “sell (d+)” rating on shares of Black Diamond Therapeutics in a research note on Monday, December 1st. Finally, Guggenheim lowered shares of Black Diamond Therapeutics from a “buy” rating to a “neutral” rating in a report on Wednesday, December 3rd.

Black Diamond Therapeutics Trading Down 1.5%

Shares of BDTX stock opened at $2.67 on Monday. Black Diamond Therapeutics has a 12 month low of $1.20 and a 12 month high of $4.94. The stock has a market cap of $152.11 million, a P/E ratio of 7.42 and a beta of 3.33. The company has a 50 day simple moving average of $3.87 and a two-hundred day simple moving average of $3.13.

Black Diamond Therapeutics (NASDAQ:BDTX) last issued its quarterly earnings results on Thursday, November 6th. The company reported ($0.15) earnings per share for the quarter, topping the consensus estimate of ($0.22) by $0.07. As a group, equities analysts forecast that Black Diamond Therapeutics will post -1.3 earnings per share for the current year.

Institutional Trading of Black Diamond Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the company. R Squared Ltd purchased a new position in shares of Black Diamond Therapeutics during the 2nd quarter valued at $25,000. Cerity Partners LLC purchased a new stake in Black Diamond Therapeutics in the 2nd quarter worth $26,000. Hudson Bay Capital Management LP bought a new stake in Black Diamond Therapeutics during the second quarter valued at about $26,000. Wealth Enhancement Advisory Services LLC bought a new stake in Black Diamond Therapeutics during the second quarter valued at about $28,000. Finally, American Century Companies Inc. purchased a new position in shares of Black Diamond Therapeutics in the second quarter valued at about $30,000. 95.47% of the stock is owned by hedge funds and other 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.