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

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

A number of research firms have issued reports on BDTX. Guggenheim downgraded shares of Black Diamond Therapeutics from a “buy” rating to a “neutral” rating in a research report on Wednesday, December 3rd. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Black Diamond Therapeutics in a research note on Monday, December 29th. Zacks Research cut Black Diamond Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 6th. Finally, Piper Sandler dropped their target price on Black Diamond Therapeutics from $9.00 to $8.00 and set an “overweight” rating on the stock in a research report on Friday, January 16th.

Black Diamond Therapeutics Price Performance

NASDAQ BDTX opened at $2.33 on Friday. The firm has a market capitalization of $132.74 million, a price-to-earnings ratio of 6.47 and a beta of 3.36. The company has a 50 day simple moving average of $2.50 and a 200-day simple moving average of $3.10. Black Diamond Therapeutics has a 52-week low of $1.20 and a 52-week high of $4.94.

Institutional Trading of Black Diamond Therapeutics

Large investors have recently added to or reduced their stakes in the business. R Squared Ltd bought a new position in shares of Black Diamond Therapeutics during the 2nd quarter valued at $25,000. Cerity Partners LLC acquired a new position in Black Diamond Therapeutics during the second quarter worth $26,000. Hudson Bay Capital Management LP acquired a new position in Black Diamond Therapeutics during the second quarter worth $26,000. nVerses Capital LLC bought a new position in Black Diamond Therapeutics during the fourth quarter valued at about $26,000. Finally, Stokes Family Office LLC acquired a new stake in shares of Black Diamond Therapeutics in the fourth quarter worth about $27,000. 95.47% of the stock is owned by institutional investors.

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.