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

Shares of Black Diamond Therapeutics, Inc. (NASDAQ:BDTX) have been given an average rating of “Moderate Buy” by the eight brokerages that are currently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $9.3333.

A number of equities analysts have recently commented on the stock. Guggenheim lowered shares of Black Diamond Therapeutics from a “buy” rating to a “neutral” rating in a research report on Wednesday, December 3rd. Piper Sandler dropped their target price on shares of Black Diamond Therapeutics from $9.00 to $8.00 and set an “overweight” rating on the stock in a report on Friday, January 16th. Weiss Ratings reissued a “sell (d+)” rating on shares of Black Diamond Therapeutics in a research report on Monday, December 29th. Finally, Zacks Research cut shares of Black Diamond Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Friday, February 6th.

Institutional Trading of Black Diamond Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BDTX. Vanguard Group Inc. lifted its holdings in shares of Black Diamond Therapeutics by 4.1% during the third quarter. Vanguard Group Inc. now owns 2,188,857 shares of the company’s stock worth $8,296,000 after buying an additional 85,825 shares during the last quarter. Renaissance Technologies LLC increased its position in Black Diamond Therapeutics by 58.4% during the fourth quarter. Renaissance Technologies LLC now owns 949,735 shares of the company’s stock worth $2,308,000 after acquiring an additional 350,335 shares during the period. Arrowstreet Capital Limited Partnership increased its position in Black Diamond Therapeutics by 549.2% during the third quarter. Arrowstreet Capital Limited Partnership now owns 896,853 shares of the company’s stock worth $3,399,000 after acquiring an additional 758,709 shares during the period. Dimensional Fund Advisors LP raised its stake in Black Diamond Therapeutics by 88.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 857,015 shares of the company’s stock valued at $2,083,000 after purchasing an additional 401,145 shares during the last quarter. Finally, Marshall Wace LLP bought a new stake in Black Diamond Therapeutics in the 2nd quarter valued at $1,830,000. Institutional investors and hedge funds own 95.47% of the company’s stock.

Black Diamond Therapeutics Stock Performance

BDTX opened at $2.33 on Friday. The firm has a market cap of $132.74 million, a P/E ratio of 6.47 and a beta of 3.36. The business has a 50 day moving average price of $2.50 and a 200 day moving average price of $3.10. Black Diamond Therapeutics has a twelve month low of $1.20 and a twelve month high of $4.94.

About Black Diamond Therapeutics

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.