Black Diamond Therapeutics, Inc. (NASDAQ:BDTX) Receives $10.25 Average PT from Analysts

Shares of Black Diamond Therapeutics, Inc. (NASDAQ:BDTX) have earned a consensus recommendation of “Moderate Buy” from the eleven research firms that are presently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and eight have given a buy recommendation to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $10.25.

Several equities research analysts have recently weighed in on BDTX shares. Raymond James Financial reiterated an “outperform” rating on shares of Black Diamond Therapeutics in a research note on Thursday, August 6th. TD Cowen restated a “buy” rating on shares of Black Diamond Therapeutics in a research report on Thursday, August 6th. HC Wainwright reaffirmed a “buy” rating on shares of Black Diamond Therapeutics in a research note on Friday, May 22nd. Weiss Ratings cut Black Diamond Therapeutics from a “sell (d)” rating to a “sell (d-)” rating in a research report on Monday, July 13th. Finally, Jefferies Financial Group reiterated a “buy” rating on shares of Black Diamond Therapeutics in a research note on Thursday, August 6th.

Black Diamond Therapeutics Stock Performance

Shares of BDTX stock opened at $1.97 on Wednesday. The firm has a fifty day moving average of $1.97 and a 200-day moving average of $2.21. The stock has a market cap of $113.18 million, a price-to-earnings ratio of -2.63 and a beta of 3.31. Black Diamond Therapeutics has a 52-week low of $1.60 and a 52-week high of $4.94.

Black Diamond Therapeutics (NASDAQ:BDTX) last issued its earnings results on Wednesday, August 5th. The company reported ($0.17) earnings per share for the quarter, beating the consensus estimate of ($0.20) by $0.03. On average, sell-side analysts predict that Black Diamond Therapeutics will post -0.57 earnings per share for the current year.

Hedge Funds Weigh In On Black Diamond Therapeutics

Several institutional investors have recently added to or reduced their stakes in BDTX. BlackRock Inc. acquired a new position in Black Diamond Therapeutics in the second quarter valued at about $7,247,000. Renaissance Technologies LLC increased its holdings in shares of Black Diamond Therapeutics by 73.1% during the first quarter. Renaissance Technologies LLC now owns 1,643,747 shares of the company’s stock worth $3,501,000 after buying an additional 694,012 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Black Diamond Therapeutics by 51.9% in the first quarter. Dimensional Fund Advisors LP now owns 1,301,664 shares of the company’s stock valued at $2,772,000 after acquiring an additional 444,649 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Black Diamond Therapeutics in the second quarter valued at approximately $2,022,000. Finally, AWM Investment Company Inc. acquired a new position in shares of Black Diamond Therapeutics in the 2nd quarter worth approximately $1,850,000. 95.47% of the stock is owned by institutional investors.

About Black Diamond Therapeutics

Black Diamond Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing precision medicines for genetically defined cancers. The company uses its Mutation-Allostery-Pharmacology (MAP) platform to identify and develop “MasterKey” medicines designed to target families of oncogenic mutations, including alterations that may be difficult to address with conventional therapies.

Its research and development programs have included investigational small-molecule therapies directed at cancer-driving pathways such as EGFR and RAF.