Black Diamond Therapeutics (NASDAQ:BDTX) Rating Lowered to Neutral at Guggenheim

Black Diamond Therapeutics (NASDAQ:BDTX) was downgraded by equities research analysts at Guggenheim from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Wednesday, MarketBeat.com reports.

Other analysts have also recently issued research reports about the stock. HC Wainwright reduced their price target on shares of Black Diamond Therapeutics from $12.00 to $10.00 and set a “buy” rating on the stock in a research report on Monday, August 11th. Zacks Research downgraded shares of Black Diamond Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 10th. Piper Sandler assumed coverage on shares of Black Diamond Therapeutics in a research report on Tuesday, November 18th. They issued an “overweight” rating and a $9.00 price target for the company. Weiss Ratings restated a “sell (d+)” rating on shares of Black Diamond Therapeutics in a research note on Monday. Finally, Stifel Nicolaus assumed coverage on Black Diamond Therapeutics in a research report on Wednesday, October 15th. They set a “buy” rating and a $8.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $9.50.

Black Diamond Therapeutics Stock Up 0.7%

BDTX opened at $2.71 on Wednesday. Black Diamond Therapeutics has a 52 week low of $1.20 and a 52 week high of $4.94. The business has a fifty day simple moving average of $3.89 and a 200-day simple moving average of $3.11. The firm has a market cap of $154.39 million, a P/E ratio of 7.53 and a beta of 3.33.

Black Diamond Therapeutics (NASDAQ:BDTX) last posted its earnings results on Thursday, November 6th. The company reported ($0.15) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.22) by $0.07. Sell-side analysts expect that Black Diamond Therapeutics will post -1.3 earnings per share for the current year.

Institutional Trading of Black Diamond Therapeutics

A number of institutional investors have recently bought and sold shares of the business. R Squared Ltd acquired a new stake in Black Diamond Therapeutics during the 2nd quarter worth $25,000. Cerity Partners LLC purchased a new stake in shares of Black Diamond Therapeutics in the second quarter valued at about $26,000. Hudson Bay Capital Management LP acquired a new stake in shares of Black Diamond Therapeutics during the second quarter worth about $26,000. Wealth Enhancement Advisory Services LLC purchased a new position in shares of Black Diamond Therapeutics during the second quarter worth about $28,000. Finally, American Century Companies Inc. acquired a new position in Black Diamond Therapeutics in the 2nd 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.