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

Shares of Black Diamond Therapeutics, Inc. (NASDAQ:BDTX) have received a consensus rating of “Moderate Buy” from the eight ratings firms that are currently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and five have issued a buy recommendation 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 brokerages have weighed in on BDTX. Piper Sandler decreased their target price on Black Diamond Therapeutics from $9.00 to $8.00 and set an “overweight” rating for the company in a research report on Friday, January 16th. Guggenheim downgraded Black Diamond Therapeutics from a “buy” rating to a “neutral” rating in a report on Wednesday, December 3rd. Weiss Ratings reiterated a “sell (d+)” rating on shares of Black Diamond Therapeutics in a report on Monday, December 29th. Finally, Zacks Research downgraded shares of Black Diamond Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 6th.

Black Diamond Therapeutics Stock Performance

Shares of NASDAQ BDTX opened at $2.47 on Friday. The firm has a market capitalization of $140.72 million, a price-to-earnings ratio of 6.86 and a beta of 3.36. The stock has a 50 day moving average price of $2.50 and a 200 day moving average price of $3.10. Black Diamond Therapeutics has a 52-week low of $1.20 and a 52-week high of $4.94.

Hedge Funds Weigh In On Black Diamond Therapeutics

A number of large investors have recently bought and sold shares of BDTX. R Squared Ltd purchased a new stake in Black Diamond Therapeutics during the second quarter worth $25,000. Cerity Partners LLC bought a new position in shares of Black Diamond Therapeutics in the 2nd quarter worth $26,000. Virtu Financial LLC purchased a new stake in shares of Black Diamond Therapeutics during the 3rd quarter worth $39,000. Hudson Bay Capital Management LP bought a new stake in Black Diamond Therapeutics during the second quarter valued at about $26,000. Finally, nVerses Capital LLC bought a new stake in Black Diamond Therapeutics during the fourth quarter valued at about $26,000. Institutional investors 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.