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

Black Diamond Therapeutics, Inc. (NASDAQ:BDTX) has earned an average rating of “Moderate Buy” from the eleven brokerages that are currently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $9.8333.

A number of brokerages have recently issued reports on BDTX. Raymond James Financial reaffirmed an “outperform” rating on shares of Black Diamond Therapeutics in a research note on Friday, May 22nd. BTIG Research raised their price target on shares of Black Diamond Therapeutics from $10.00 to $11.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. HC Wainwright reaffirmed a “buy” rating on shares of Black Diamond Therapeutics in a research note on Friday, May 22nd. TD Cowen reaffirmed a “buy” rating on shares of Black Diamond Therapeutics in a research report on Friday, May 22nd. Finally, Weiss Ratings lowered Black Diamond Therapeutics from a “sell (d)” rating to a “sell (d-)” rating in a research note on Monday, July 13th.

Institutional Trading of Black Diamond Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of BDTX. Invesco Ltd. boosted its position in Black Diamond Therapeutics by 152.5% during the 1st quarter. Invesco Ltd. now owns 45,989 shares of the company’s stock valued at $71,000 after acquiring an additional 27,777 shares in the last quarter. AQR Capital Management LLC purchased a new position in shares of Black Diamond Therapeutics during the 1st quarter worth approximately $84,000. American Century Companies Inc. bought a new position in shares of Black Diamond Therapeutics in the 2nd quarter worth approximately $30,000. Prudential Financial Inc. bought a new position in shares of Black Diamond Therapeutics in the 2nd quarter worth approximately $32,000. Finally, Arrowstreet Capital Limited Partnership purchased a new position in shares of Black Diamond Therapeutics in the 2nd quarter valued at approximately $343,000. 95.47% of the stock is currently owned by hedge funds and other institutional investors.

Black Diamond Therapeutics Price Performance

Shares of BDTX opened at $1.76 on Tuesday. Black Diamond Therapeutics has a 1 year low of $1.60 and a 1 year high of $4.94. The stock has a 50 day simple moving average of $2.01 and a two-hundred day simple moving average of $2.34. The firm has a market cap of $100.85 million, a P/E ratio of -2.29 and a beta of 3.25.

Black Diamond Therapeutics (NASDAQ:BDTX) last announced its quarterly earnings data on Thursday, May 7th. The company reported ($0.16) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.02. On average, equities analysts anticipate that Black Diamond Therapeutics will post -0.6 earnings per share for the current 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.