Black Diamond Therapeutics (NASDAQ:BDTX) Issues Quarterly Earnings Results

Black Diamond Therapeutics (NASDAQ:BDTX) announced its earnings results on Monday. The company reported ($0.14) EPS for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.04, Zacks reports.

Black Diamond Therapeutics Price Performance

Shares of NASDAQ BDTX opened at $2.19 on Tuesday. The stock has a fifty day moving average price of $2.43 and a 200 day moving average price of $3.06. Black Diamond Therapeutics has a 1-year low of $1.20 and a 1-year high of $4.94. The company has a market cap of $124.76 million, a PE ratio of 6.08 and a beta of 3.34.

Hedge Funds Weigh In On Black Diamond Therapeutics

Large investors have recently bought and sold shares of the company. Geode Capital Management LLC boosted its holdings in shares of 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 acquiring an additional 5,257 shares in the last quarter. Engineers Gate Manager LP raised its holdings 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 purchasing an additional 6,469 shares in the last quarter. Bank of America Corp DE raised its holdings 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 purchasing an additional 7,972 shares in the last quarter. Cerity Partners LLC acquired a new stake in Black Diamond Therapeutics in the second quarter valued at about $26,000. Finally, Virtu Financial LLC acquired a new stake in Black Diamond Therapeutics in the third quarter valued at about $39,000. Hedge funds and other institutional investors own 95.47% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Weiss Ratings reissued a “sell (d+)” rating on shares of Black Diamond Therapeutics in a research report on Monday, December 29th. Piper Sandler reduced their target price 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. Zacks Research downgraded shares of Black Diamond Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 6th. Finally, Guggenheim lowered Black Diamond Therapeutics from a “buy” rating to a “neutral” rating in a report on Wednesday, December 3rd. Five investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Black Diamond Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus price target of $9.33.

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.