Brokerages Set Black Diamond Therapeutics, Inc. (NASDAQ:BDTX) Price Target at $9.83

Black Diamond Therapeutics, Inc. (NASDAQ:BDTX) has been given a consensus recommendation of “Moderate Buy” by the eight brokerages that are presently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $9.8333.

BDTX has been the subject of a number of recent research reports. Piper Sandler decreased their target price on Black Diamond Therapeutics from $9.00 to $8.00 and set an “overweight” rating for the company in a research report on Friday, January 16th. Guggenheim downgraded Black Diamond Therapeutics from a “buy” rating to a “neutral” rating in a research note on Wednesday, December 3rd. Wedbush lifted their price objective on Black Diamond Therapeutics from $13.00 to $14.00 and gave the stock an “outperform” rating in a report on Tuesday, March 17th. Weiss Ratings restated a “sell (d+)” rating on shares of Black Diamond Therapeutics in a research note on Monday, December 29th. Finally, Zacks Research downgraded shares of Black Diamond Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Friday, February 6th.

Black Diamond Therapeutics Stock Down 1.9%

Black Diamond Therapeutics stock opened at $2.11 on Wednesday. The firm has a 50 day moving average price of $2.38 and a 200-day moving average price of $3.05. Black Diamond Therapeutics has a twelve month low of $1.20 and a twelve month high of $4.94. The company has a market capitalization of $120.88 million, a P/E ratio of 5.70 and a beta of 3.34.

Black Diamond Therapeutics (NASDAQ:BDTX) last posted its quarterly earnings results on Monday, March 16th. The company reported ($0.14) EPS for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.04. Equities analysts expect that Black Diamond Therapeutics will post -1.3 EPS for the current fiscal year.

Institutional Trading of Black Diamond Therapeutics

A number of institutional investors have recently modified their holdings of BDTX. Cerity Partners LLC purchased a new position in Black Diamond Therapeutics in the 2nd quarter valued at approximately $26,000. Virtu Financial LLC purchased a new stake in shares of Black Diamond Therapeutics during the third quarter worth $39,000. Hudson Bay Capital Management LP bought a new position in shares of Black Diamond Therapeutics in the second quarter worth $26,000. nVerses Capital LLC purchased a new position in shares of Black Diamond Therapeutics in the fourth quarter valued at $26,000. Finally, Stokes Family Office LLC purchased a new position in shares of Black Diamond Therapeutics in the fourth quarter valued at $27,000. 95.47% of the stock is currently owned by hedge funds and other institutional investors.

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.