Black Diamond Therapeutics, Inc. (NASDAQ:BDTX) Given Consensus Rating 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 ratings firms that are currently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among analysts that have covered the stock in the last year is $10.00.

A number of analysts have commented on the stock. Jefferies Financial Group upgraded shares of Black Diamond Therapeutics to a “strong-buy” rating in a research note on Thursday, April 23rd. Weiss Ratings lowered shares of Black Diamond Therapeutics from a “sell (d+)” rating to a “sell (d)” rating in a research note on Monday, May 18th. Raymond James Financial reiterated an “outperform” rating on shares of Black Diamond Therapeutics in a research note on Friday, May 22nd. BTIG Research upped their target price on shares of Black Diamond Therapeutics from $10.00 to $11.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. Finally, TD Cowen reiterated a “buy” rating on shares of Black Diamond Therapeutics in a research note on Friday, May 22nd.

Black Diamond Therapeutics Stock Performance

Shares of BDTX stock opened at $1.97 on Monday. The firm has a market capitalization of $112.88 million, a PE ratio of -2.56 and a beta of 3.22. The firm has a fifty day simple moving average of $2.63 and a two-hundred day simple moving average of $2.62. Black Diamond Therapeutics has a 12 month low of $1.93 and a 12 month high of $4.94.

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

Institutional Trading of Black Diamond Therapeutics

Institutional investors have recently made changes to their positions in the company. Renaissance Technologies LLC grew its position in Black Diamond Therapeutics by 73.1% during the first quarter. Renaissance Technologies LLC now owns 1,643,747 shares of the company’s stock valued at $3,501,000 after buying an additional 694,012 shares during the period. Sei Investments Co. bought a new position in Black Diamond Therapeutics during the first quarter valued at about $85,000. Dimensional Fund Advisors LP grew its position in Black Diamond Therapeutics by 51.9% during the first quarter. Dimensional Fund Advisors LP now owns 1,301,664 shares of the company’s stock valued at $2,772,000 after buying an additional 444,649 shares during the period. Brookstone Capital Management bought a new position in Black Diamond Therapeutics during the first quarter valued at about $30,000. Finally, WINTON GROUP Ltd bought a new position in Black Diamond Therapeutics during the fourth quarter worth about $1,024,000. Institutional investors own 95.47% of the company’s stock.

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.