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

Shares of Black Diamond Therapeutics, Inc. (NASDAQ:BDTX) have received a consensus recommendation of “Moderate Buy” from the eight ratings firms that are presently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, two have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $9.50.

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

Hedge Funds Weigh In On Black Diamond Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in the business. Arrowstreet Capital Limited Partnership raised its position in shares of Black Diamond Therapeutics by 549.2% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 896,853 shares of the company’s stock valued at $3,399,000 after acquiring an additional 758,709 shares in the last quarter. Marshall Wace LLP purchased a new stake in shares of Black Diamond Therapeutics during the second quarter worth $1,830,000. UBS Group AG increased its holdings in Black Diamond Therapeutics by 100.3% in the third quarter. UBS Group AG now owns 628,416 shares of the company’s stock worth $2,382,000 after buying an additional 314,716 shares during the last quarter. Jane Street Group LLC acquired a new stake in shares of Black Diamond Therapeutics in the second quarter worth about $517,000. Finally, XTX Topco Ltd increased its position in Black Diamond Therapeutics by 324.7% in the 2nd quarter. XTX Topco Ltd now owns 179,234 shares of the company’s stock worth $444,000 after buying an additional 137,036 shares during the period. 95.47% of the stock is currently owned by hedge funds and other institutional investors.

Black Diamond Therapeutics Stock Down 2.4%

NASDAQ BDTX opened at $2.43 on Friday. The stock has a market capitalization of $138.44 million, a P/E ratio of 6.75 and a beta of 3.40. Black Diamond Therapeutics has a 52-week low of $1.20 and a 52-week high of $4.94. The firm has a 50-day moving average price of $3.37 and a 200 day moving average price of $3.16.

Black Diamond Therapeutics (NASDAQ:BDTX) last announced its quarterly earnings data on Thursday, November 6th. The company reported ($0.15) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.07. On average, equities research analysts expect that Black Diamond Therapeutics will post -1.3 earnings per share for the current fiscal year.

Black Diamond Therapeutics Company Profile

Black Diamond Therapeutics, Inc is a precision oncology company focused on the discovery and development of small-molecule therapies that selectively target oncogenic proteins bearing tumor-driving mutations. Leveraging its proprietary Genetic Defined Allosteric (GDA) therapeutic platform, the company aims to identify unique allosteric binding sites in mutant proteins and engineer highly selective inhibitors. Headquartered in Cambridge, Massachusetts, Black Diamond applies structure-based drug design and molecular modeling to advance personalized cancer treatments.

The company’s development pipeline includes lead candidate BDTX-189, an allosteric inhibitor of mutant HER2, as well as programs directed at clinically relevant EGFR and KRAS mutations.