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

Shares of Black Diamond Therapeutics, Inc. (NASDAQ:BDTX) have been assigned a consensus recommendation of “Moderate Buy” from the eight analysts that are presently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell rating, one has given a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $9.3333.

Several research analysts have recently commented on BDTX shares. Zacks Research raised Black Diamond Therapeutics from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 8th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Black Diamond Therapeutics in a research report on Monday, December 29th. Piper Sandler reduced their price objective on Black Diamond Therapeutics from $9.00 to $8.00 and set an “overweight” rating on the stock in a research note on Friday, January 16th. Guggenheim cut Black Diamond Therapeutics from a “buy” rating to a “neutral” rating in a research note on Wednesday, December 3rd. Finally, Stifel Nicolaus began coverage on shares of Black Diamond Therapeutics in a research note on Wednesday, October 15th. They set a “buy” rating and a $8.00 price objective for the company.

Institutional Trading of Black Diamond Therapeutics

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

Black Diamond Therapeutics Price Performance

Shares of BDTX stock opened at $2.56 on Tuesday. Black Diamond Therapeutics has a 1 year low of $1.20 and a 1 year high of $4.94. The firm has a fifty day moving average price of $2.88 and a 200-day moving average price of $3.18. The company has a market cap of $145.84 million, a price-to-earnings ratio of 7.11 and a beta of 3.40.

Black Diamond Therapeutics (NASDAQ:BDTX) last announced its earnings results on Thursday, November 6th. The company reported ($0.15) EPS for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.07. Equities research analysts expect that Black Diamond Therapeutics will post -1.3 EPS for the current 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.