Black Diamond Therapeutics (NASDAQ:BDTX) Stock Rating Upgraded by Jefferies Financial Group

Black Diamond Therapeutics (NASDAQ:BDTX) was upgraded by stock analysts at Jefferies Financial Group to a “strong-buy” rating in a research note issued on Thursday,Zacks.com reports.

BDTX has been the subject of several other reports. Wedbush increased their price target on shares of Black Diamond Therapeutics from $13.00 to $14.00 and gave the stock an “outperform” rating in a report on Tuesday, March 17th. Zacks Research cut shares of Black Diamond Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Friday, February 6th. Piper Sandler cut their price target on shares of Black Diamond Therapeutics from $9.00 to $8.00 and set an “overweight” rating for the company in a report on Friday, January 16th. Finally, Weiss Ratings raised shares of Black Diamond Therapeutics from a “sell (d)” rating to a “sell (d+)” rating in a report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $9.83.

Black Diamond Therapeutics Trading Down 4.2%

NASDAQ:BDTX opened at $2.97 on Thursday. The firm has a market cap of $170.15 million, a P/E ratio of 8.03 and a beta of 3.38. The stock’s 50 day simple moving average is $2.43 and its 200-day simple moving average is $2.91. Black Diamond Therapeutics has a 12-month low of $1.46 and a 12-month high of $4.94.

Black Diamond Therapeutics (NASDAQ:BDTX) last posted its quarterly earnings results on Monday, March 16th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.18) by $0.04. Research analysts forecast that Black Diamond Therapeutics will post -0.62 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Geode Capital Management LLC grew its position in Black Diamond Therapeutics by 1.1% during the fourth quarter. Geode Capital Management LLC now owns 505,780 shares of the company’s stock worth $1,229,000 after buying an additional 5,257 shares during the period. Engineers Gate Manager LP grew its position in Black Diamond Therapeutics by 48.9% during the fourth quarter. Engineers Gate Manager LP now owns 19,701 shares of the company’s stock worth $48,000 after buying an additional 6,469 shares during the period. Kathmere Capital Management LLC grew its position in Black Diamond Therapeutics by 31.0% during the fourth quarter. Kathmere Capital Management LLC now owns 31,822 shares of the company’s stock worth $77,000 after buying an additional 7,539 shares during the period. Bank of America Corp DE grew its position in Black Diamond Therapeutics by 22.5% during the third quarter. Bank of America Corp DE now owns 43,359 shares of the company’s stock worth $164,000 after buying an additional 7,972 shares during the period. Finally, Cerity Partners LLC acquired a new position in Black Diamond Therapeutics during the second quarter worth about $26,000. 95.47% of the stock is currently owned by institutional investors and hedge funds.

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.