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

Shares of Black Diamond Therapeutics, Inc. (NASDAQ:BDTX) have been given an average rating of “Moderate Buy” by the seven ratings firms that are covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and five have given a buy recommendation to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $9.60.

A number of brokerages recently weighed in on BDTX. Weiss Ratings restated a “sell (d)” rating on shares of Black Diamond Therapeutics in a research note on Wednesday, October 8th. Zacks Research cut shares of Black Diamond Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 10th. Stifel Nicolaus assumed coverage on shares of Black Diamond Therapeutics in a research report on Wednesday, October 15th. They set a “buy” rating and a $8.00 price target on the stock. Guggenheim started coverage on shares of Black Diamond Therapeutics in a report on Wednesday, September 3rd. They issued a “buy” rating and a $8.00 price objective for the company. Finally, Wall Street Zen lowered shares of Black Diamond Therapeutics from a “buy” rating to a “hold” rating in a research note on Saturday, August 9th.

Black Diamond Therapeutics Trading Up 5.4%

Shares of NASDAQ BDTX opened at $4.87 on Thursday. Black Diamond Therapeutics has a 12-month low of $1.20 and a 12-month high of $4.94. The company has a market cap of $277.44 million, a PE ratio of 13.53 and a beta of 3.12. The stock has a 50 day simple moving average of $3.71 and a 200-day simple moving average of $2.89.

Black Diamond Therapeutics (NASDAQ:BDTX) last posted its earnings results on Thursday, November 6th. The company reported ($0.15) EPS for the quarter, beating the consensus estimate of ($0.22) by $0.07. Sell-side analysts forecast that Black Diamond Therapeutics will post -1.3 earnings per share for the current fiscal year.

Institutional Trading of Black Diamond Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of BDTX. Marshall Wace LLP bought a new position in Black Diamond Therapeutics during the second quarter valued at about $1,830,000. AWM Investment Company Inc. bought a new stake in Black Diamond Therapeutics in the first quarter worth about $775,000. Jane Street Group LLC acquired a new stake in Black Diamond Therapeutics in the 2nd quarter valued at about $517,000. Arrowstreet Capital Limited Partnership bought a new position in shares of Black Diamond Therapeutics during the 2nd quarter valued at about $343,000. Finally, XTX Topco Ltd boosted its position in shares of Black Diamond Therapeutics by 324.7% during the 2nd quarter. XTX Topco Ltd now owns 179,234 shares of the company’s stock valued at $444,000 after purchasing an additional 137,036 shares in the last quarter. Institutional investors own 95.47% of the company’s stock.

About Black Diamond Therapeutics

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.