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

Shares of Black Diamond Therapeutics, Inc. (NASDAQ:BDTX) have been assigned an average recommendation of “Moderate Buy” from the eleven brokerages that are covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, two have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $10.00.

Several brokerages recently weighed in on BDTX. HC Wainwright reiterated a “buy” rating on shares of Black Diamond Therapeutics in a research report on Friday, May 22nd. Wedbush lifted their price objective on shares of Black Diamond Therapeutics from $13.00 to $14.00 and gave the company an “outperform” rating in a research report on Tuesday, March 17th. TD Cowen reiterated a “buy” rating on shares of Black Diamond Therapeutics in a research report on Friday, May 22nd. Jefferies Financial Group upgraded shares of Black Diamond Therapeutics to a “strong-buy” rating in a research report on Thursday, April 23rd. Finally, Raymond James Financial reiterated an “outperform” rating on shares of Black Diamond Therapeutics in a research report on Friday, May 22nd.

Institutional Trading of Black Diamond Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Cerity Partners LLC bought a new stake in shares of Black Diamond Therapeutics during the 2nd quarter worth about $26,000. Virtu Financial LLC bought a new stake in shares of Black Diamond Therapeutics during the 3rd quarter worth about $39,000. Hudson Bay Capital Management LP bought a new stake in shares of Black Diamond Therapeutics during the 2nd quarter worth about $26,000. nVerses Capital LLC bought a new stake in shares of Black Diamond Therapeutics during the 4th quarter worth about $26,000. Finally, Stokes Family Office LLC bought a new stake in shares of Black Diamond Therapeutics during the 4th quarter worth about $27,000. 95.47% of the stock is currently owned by institutional investors.

Black Diamond Therapeutics Price Performance

Shares of NASDAQ:BDTX opened at $2.22 on Monday. The company has a market cap of $127.21 million, a PE ratio of -2.88 and a beta of 3.22. The company’s 50-day moving average price is $2.63 and its 200 day moving average price is $2.70. Black Diamond Therapeutics has a fifty-two week low of $1.93 and a fifty-two week high of $4.94.

Black Diamond Therapeutics (NASDAQ:BDTX) last issued its quarterly earnings data on Thursday, May 7th. The company reported ($0.16) earnings per share for the quarter, beating the consensus estimate of ($0.18) by $0.02. As a group, equities analysts anticipate that Black Diamond Therapeutics will post -0.6 EPS for the current year.

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.