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

Black Diamond Therapeutics, Inc. (NASDAQ:BDTX) has received an average recommendation of “Moderate Buy” from the eleven research firms that are currently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, two have given a hold recommendation, seven have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $9.8333.

A number of analysts have recently commented on the company. BTIG Research boosted their price objective on Black Diamond Therapeutics from $10.00 to $11.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. Raymond James Financial reiterated an “outperform” rating on shares of Black Diamond Therapeutics in a research report on Friday, May 22nd. Wall Street Zen cut shares of Black Diamond Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. TD Cowen reissued a “buy” rating on shares of Black Diamond Therapeutics in a report on Friday, May 22nd. Finally, Weiss Ratings cut shares of Black Diamond Therapeutics from a “sell (d)” rating to a “sell (d-)” rating in a research report on Monday, July 13th.

Black Diamond Therapeutics Stock Up 1.1%

Shares of Black Diamond Therapeutics stock opened at $1.81 on Tuesday. Black Diamond Therapeutics has a twelve month low of $1.60 and a twelve month high of $4.94. The business has a 50-day moving average price of $2.09 and a 200 day moving average price of $2.35. The firm has a market cap of $103.71 million, a PE ratio of -2.35 and a beta of 3.25.

Black Diamond Therapeutics (NASDAQ:BDTX) last released its quarterly earnings results on Thursday, May 7th. The company reported ($0.16) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.02. On average, sell-side analysts expect that Black Diamond Therapeutics will post -0.6 EPS for the current year.

Institutional Trading of Black Diamond Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of BDTX. Cerity Partners LLC purchased a new position in Black Diamond Therapeutics in the 2nd quarter valued at about $26,000. Hudson Bay Capital Management LP purchased a new stake in Black Diamond Therapeutics during the 2nd quarter worth approximately $26,000. nVerses Capital LLC purchased a new stake in Black Diamond Therapeutics during the 4th quarter worth approximately $26,000. Stokes Family Office LLC acquired a new position in shares of Black Diamond Therapeutics during the fourth quarter valued at approximately $27,000. Finally, Brookstone Capital Management acquired a new position in shares of Black Diamond Therapeutics during the first quarter valued at approximately $30,000. Hedge funds and other institutional investors own 95.47% of the company’s stock.

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.