Black Diamond Therapeutics (NASDAQ:BDTX) Stock Rating Lowered by Guggenheim

Black Diamond Therapeutics (NASDAQ:BDTX) was downgraded by equities researchers at Guggenheim from a “buy” rating to a “neutral” rating in a note issued to investors on Wednesday, MarketBeat reports.

Other equities research analysts also recently issued research reports about the stock. HC Wainwright lowered their price objective on shares of Black Diamond Therapeutics from $12.00 to $10.00 and set a “buy” rating for the company in a research report on Monday, August 11th. Stifel Nicolaus began coverage on Black Diamond Therapeutics in a report on Wednesday, October 15th. They set a “buy” rating and a $8.00 target price for the company. Zacks Research downgraded Black Diamond Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 10th. Weiss Ratings restated a “sell (d+)” rating on shares of Black Diamond Therapeutics in a report on Monday. Finally, Piper Sandler assumed coverage on Black Diamond Therapeutics in a report on Tuesday, November 18th. They set an “overweight” rating and a $9.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Black Diamond Therapeutics has an average rating of “Moderate Buy” and a consensus target price of $9.50.

Black Diamond Therapeutics Price Performance

Shares of Black Diamond Therapeutics stock traded down $0.83 during trading hours on Wednesday, hitting $2.62. The company’s stock had a trading volume of 7,880,188 shares, compared to its average volume of 1,694,199. The company has a market capitalization of $149.20 million, a PE ratio of 7.31 and a beta of 3.33. The stock has a 50 day moving average of $3.90 and a 200 day moving average of $3.11. Black Diamond Therapeutics has a 12 month low of $1.20 and a 12 month high of $4.94.

Black Diamond Therapeutics (NASDAQ:BDTX) last issued its quarterly earnings data on Thursday, November 6th. The company reported ($0.15) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.22) by $0.07. Equities analysts expect that Black Diamond Therapeutics will post -1.3 EPS for the current year.

Institutional Trading of Black Diamond Therapeutics

A number of large investors have recently added to or reduced their stakes in BDTX. R Squared Ltd acquired a new position in Black Diamond Therapeutics in the 2nd quarter valued at $25,000. Cerity Partners LLC bought a new stake in shares of Black Diamond Therapeutics in the second quarter valued at about $26,000. Hudson Bay Capital Management LP bought a new stake in shares of Black Diamond Therapeutics in the second quarter valued at about $26,000. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Black Diamond Therapeutics in the second quarter valued at about $28,000. Finally, American Century Companies Inc. bought a new position in Black Diamond Therapeutics during the second quarter worth about $30,000. Institutional investors and hedge funds own 95.47% of the company’s stock.

About Black Diamond Therapeutics

Black Diamond Therapeutics, Inc, a clinical-stage oncology medicine company, focuses on the discovery and development of MasterKey therapies for patients with genetically defined tumors. The company's lead product candidate is BDTX-1535, a brain-penetrant epidermal growth factor receptor MasterKey inhibitor, which is in phase 2 clinical trial for the treatment of epidermal growth factor receptor mutant non-small cell lung cancer, as well as phase 1 clinical trial to treat glioblastoma.