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

Shares of Black Diamond Therapeutics, Inc. (NASDAQ:BDTX) have been given an average recommendation of “Moderate Buy” by the eleven analysts that are presently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, two have given a hold recommendation, seven have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $9.8333.

BDTX has been the subject of a number of research reports. HC Wainwright reiterated a “buy” rating on shares of Black Diamond Therapeutics in a report on Friday, May 22nd. TD Cowen restated a “buy” rating on shares of Black Diamond Therapeutics in a research report on Friday, May 22nd. Wall Street Zen cut shares of Black Diamond Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. BTIG Research raised their price target on shares of Black Diamond Therapeutics from $10.00 to $11.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Finally, Jefferies Financial Group upgraded shares of Black Diamond Therapeutics to a “strong-buy” rating in a report on Thursday, April 23rd.

Institutional Investors Weigh In On Black Diamond Therapeutics

Institutional investors have recently made changes to their positions in the stock. Geode Capital Management LLC lifted its holdings in Black Diamond Therapeutics by 1.1% in the fourth quarter. Geode Capital Management LLC now owns 505,780 shares of the company’s stock valued at $1,229,000 after buying an additional 5,257 shares during the period. Engineers Gate Manager LP grew its holdings in Black Diamond Therapeutics by 48.9% during the 4th quarter. Engineers Gate Manager LP now owns 19,701 shares of the company’s stock worth $48,000 after acquiring an additional 6,469 shares during the period. Kathmere Capital Management LLC grew its holdings in Black Diamond Therapeutics by 31.0% during the 4th quarter. Kathmere Capital Management LLC now owns 31,822 shares of the company’s stock worth $77,000 after acquiring an additional 7,539 shares during the period. Bank of America Corp DE raised its position in shares of Black Diamond Therapeutics by 22.5% in the 3rd quarter. Bank of America Corp DE now owns 43,359 shares of the company’s stock worth $164,000 after acquiring an additional 7,972 shares in the last quarter. Finally, Cerity Partners LLC acquired a new position in shares of Black Diamond Therapeutics in the 2nd quarter valued at about $26,000. Institutional investors own 95.47% of the company’s stock.

Black Diamond Therapeutics Stock Up 9.2%

Shares of BDTX stock opened at $2.01 on Friday. Black Diamond Therapeutics has a twelve month low of $1.60 and a twelve month high of $4.94. The stock’s fifty day simple moving average is $2.33 and its 200 day simple moving average is $2.41. The firm has a market capitalization of $115.17 million, a P/E ratio of -2.61 and a beta of 3.25.

Black Diamond Therapeutics (NASDAQ:BDTX) last posted its earnings results on Thursday, May 7th. The company reported ($0.16) EPS for the quarter, beating the consensus estimate of ($0.18) by $0.02. As a group, equities research analysts expect that Black Diamond Therapeutics will post -0.6 EPS for the current fiscal year.

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.