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

Shares of Black Diamond Therapeutics, Inc. (NASDAQ:BDTX) have been assigned an average rating of “Moderate Buy” from the eight brokerages that are presently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month target price among analysts that have covered the stock in the last year is $9.8333.

A number of analysts have recently weighed in on BDTX shares. Guggenheim cut shares of Black Diamond Therapeutics from a “buy” rating to a “neutral” rating in a research note on Wednesday, December 3rd. Piper Sandler lowered their target price on shares of Black Diamond Therapeutics from $9.00 to $8.00 and set an “overweight” rating on the stock in a research note on Friday, January 16th. Wedbush lifted their target price on shares of Black Diamond Therapeutics from $13.00 to $14.00 and gave the stock an “outperform” rating in a report on Tuesday. Weiss Ratings reissued a “sell (d+)” rating on shares of Black Diamond Therapeutics in a research report on Monday, December 29th. Finally, Zacks Research cut shares of Black Diamond Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Friday, February 6th.

Black Diamond Therapeutics Stock Performance

BDTX opened at $2.23 on Wednesday. The business has a 50 day moving average price of $2.42 and a 200 day moving average price of $3.06. Black Diamond Therapeutics has a twelve month low of $1.20 and a twelve month high of $4.94. The firm has a market cap of $127.05 million, a P/E ratio of 6.03 and a beta of 3.34.

Black Diamond Therapeutics (NASDAQ:BDTX) last announced its earnings results on Monday, March 16th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.04. As a group, analysts anticipate that Black Diamond Therapeutics will post -1.3 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Black Diamond Therapeutics

Several large investors have recently made changes to their positions in BDTX. Invesco Ltd. grew its holdings in Black Diamond Therapeutics by 37.9% in the 4th quarter. Invesco Ltd. now owns 131,438 shares of the company’s stock valued at $319,000 after buying an additional 36,094 shares during the last quarter. Mackenzie Financial Corp acquired a new position in shares of Black Diamond Therapeutics during the fourth quarter worth approximately $876,000. nVerses Capital LLC bought a new stake in shares of Black Diamond Therapeutics in the fourth quarter valued at approximately $26,000. Stokes Family Office LLC acquired a new stake in shares of Black Diamond Therapeutics in the fourth quarter worth $27,000. Finally, Verdad Advisers LP acquired a new stake in shares of Black Diamond Therapeutics in the fourth quarter worth $234,000. Institutional investors and hedge funds own 95.47% of the company’s stock.

About Black Diamond Therapeutics

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.