Black Diamond Therapeutics (NASDAQ:BDTX) Releases Quarterly Earnings Results, Beats Estimates By $0.01 EPS

Black Diamond Therapeutics (NASDAQ:BDTX) announced its earnings results on Wednesday. The company reported ($0.17) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.18) by $0.01, FiscalAI reports.

Black Diamond Therapeutics Stock Performance

Black Diamond Therapeutics stock traded up $0.01 during mid-day trading on Wednesday, reaching $1.79. The company’s stock had a trading volume of 384,210 shares, compared to its average volume of 1,157,156. Black Diamond Therapeutics has a 12-month low of $1.60 and a 12-month high of $4.94. The firm’s fifty day moving average price is $1.86 and its two-hundred day moving average price is $2.28. The company has a market capitalization of $102.57 million, a P/E ratio of -2.32 and a beta of 3.28.

Institutional Investors Weigh In On Black Diamond Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the company. Cerity Partners LLC bought a new position in Black Diamond Therapeutics in the 2nd quarter valued at $26,000. Virtu Financial LLC purchased a new position in shares of Black Diamond Therapeutics during the third quarter worth about $39,000. Hudson Bay Capital Management LP purchased a new stake in Black Diamond Therapeutics in the second quarter valued at approximately $26,000. nVerses Capital LLC bought a new position in Black Diamond Therapeutics in the fourth quarter valued at $26,000. Finally, Stokes Family Office LLC purchased a new stake in Black Diamond Therapeutics during the fourth quarter valued at about $27,000. 95.47% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Wall Street Zen lowered shares of Black Diamond Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Raymond James Financial restated an “outperform” rating on shares of Black Diamond Therapeutics in a report on Friday, May 22nd. BTIG Research upped their price objective on shares of Black Diamond Therapeutics from $10.00 to $11.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. Jefferies Financial Group upgraded shares of Black Diamond Therapeutics to a “strong-buy” rating in a research note on Thursday, April 23rd. Finally, Weiss Ratings downgraded Black Diamond Therapeutics from a “sell (d)” rating to a “sell (d-)” rating in a research note on Monday, July 13th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $9.83.

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.