Analysts Set Black Diamond Therapeutics, Inc. (NASDAQ:BDTX) Target Price at $9.33

Black Diamond Therapeutics, Inc. (NASDAQ:BDTX) has received an average rating of “Moderate Buy” from the eight research firms that are currently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and five have given a buy recommendation to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $9.3333.

BDTX has been the topic of a number of recent analyst reports. Guggenheim lowered Black Diamond Therapeutics from a “buy” rating to a “neutral” rating in a research note on Wednesday, December 3rd. Zacks Research downgraded Black Diamond Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 6th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Black Diamond Therapeutics in a research note on Monday, December 29th. Finally, Piper Sandler decreased their price target 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.

Institutional Investors Weigh In On Black Diamond Therapeutics

Hedge funds have recently modified their holdings of the stock. R Squared Ltd purchased a new stake in Black Diamond Therapeutics in the second quarter valued at approximately $25,000. Cerity Partners LLC acquired a new position in shares of Black Diamond Therapeutics in the 2nd quarter valued at $26,000. Hudson Bay Capital Management LP purchased a new stake in shares of Black Diamond Therapeutics during the 2nd quarter valued at $26,000. nVerses Capital LLC acquired a new stake in shares of Black Diamond Therapeutics during the 4th quarter worth $26,000. Finally, Stokes Family Office LLC purchased a new position in shares of Black Diamond Therapeutics in the 4th quarter worth $27,000. 95.47% of the stock is owned by institutional investors and hedge funds.

Black Diamond Therapeutics Price Performance

NASDAQ:BDTX opened at $2.41 on Friday. The firm has a market cap of $137.30 million, a PE ratio of 6.69 and a beta of 3.36. The firm has a 50 day simple moving average of $2.50 and a 200-day simple moving average of $3.11. Black Diamond Therapeutics has a 1-year low of $1.20 and a 1-year 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.