Black Diamond Therapeutics, Inc. (NASDAQ:BDTX) Receives Consensus Rating of “Buy” from Analysts

Shares of Black Diamond Therapeutics, Inc. (NASDAQ:BDTX) have been assigned a consensus recommendation of “Buy” from the five analysts that are currently covering the company, Marketbeat Ratings reports. Five research analysts have rated the stock with a buy recommendation. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $12.80.

A number of brokerages have issued reports on BDTX. HC Wainwright lifted their price target on Black Diamond Therapeutics from $11.00 to $12.00 and gave the stock a “buy” rating in a report on Tuesday, March 18th. Wall Street Zen raised Black Diamond Therapeutics from a “hold” rating to a “buy” rating in a report on Saturday, June 14th. Wedbush reaffirmed an “outperform” rating and set a $11.00 price target on shares of Black Diamond Therapeutics in a report on Wednesday, March 19th. Finally, Raymond James Financial raised Black Diamond Therapeutics to an “outperform” rating and set a $11.00 price target for the company in a report on Tuesday, July 1st.

Black Diamond Therapeutics Trading Up 3.8%

NASDAQ:BDTX opened at $2.74 on Friday. The firm has a market cap of $155.80 million, a PE ratio of 45.67 and a beta of 2.71. The stock has a fifty day moving average price of $2.23 and a 200 day moving average price of $2.04. Black Diamond Therapeutics has a 12-month low of $1.20 and a 12-month high of $6.75.

Institutional Trading of Black Diamond Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in BDTX. Bank of New York Mellon Corp increased its position in shares of Black Diamond Therapeutics by 46.1% during the fourth quarter. Bank of New York Mellon Corp now owns 207,074 shares of the company’s stock worth $443,000 after purchasing an additional 65,341 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Black Diamond Therapeutics in the 4th quarter valued at about $53,000. Intech Investment Management LLC increased its position in Black Diamond Therapeutics by 49.1% in the 4th quarter. Intech Investment Management LLC now owns 19,247 shares of the company’s stock valued at $41,000 after acquiring an additional 6,340 shares during the period. Sei Investments Co. acquired a new position in Black Diamond Therapeutics in the 4th quarter valued at about $49,000. Finally, JPMorgan Chase & Co. increased its position in Black Diamond Therapeutics by 429.6% in the 4th quarter. JPMorgan Chase & Co. now owns 18,929 shares of the company’s stock valued at $41,000 after acquiring an additional 15,355 shares during the period. Institutional investors and hedge funds own 95.47% of the company’s stock.

Black Diamond Therapeutics Company Profile

Black Diamond Therapeutics, Inc, a clinical-stage oncology medicine company, focuses on the discovery and development of MasterKey therapies for patients with genetically defined tumors. The company's lead product candidate is BDTX-1535, a brain-penetrant epidermal growth factor receptor MasterKey inhibitor, which is in phase 2 clinical trial for the treatment of epidermal growth factor receptor mutant non-small cell lung cancer, as well as phase 1 clinical trial to treat glioblastoma.