Brokerages Set Black Diamond Therapeutics, Inc. (NASDAQ:BDTX) PT at $9.80

Shares of Black Diamond Therapeutics, Inc. (NASDAQ:BDTX) have been given a consensus rating of “Moderate Buy” by the eleven research firms that are covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, two have given a hold rating and eight have assigned a buy rating to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $9.80.

Several equities research analysts have recently issued reports on the stock. Raymond James Financial reissued an “outperform” rating on shares of Black Diamond Therapeutics in a research report on Thursday, August 6th. Wall Street Zen cut shares of Black Diamond Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. BTIG Research upped their target price on shares of Black Diamond Therapeutics from $10.00 to $11.00 and gave the stock a “buy” rating in a research note on Wednesday, April 29th. TD Cowen reiterated a “buy” rating on shares of Black Diamond Therapeutics in a report on Thursday, August 6th. Finally, HC Wainwright reissued a “buy” rating on shares of Black Diamond Therapeutics in a research note on Friday, May 22nd.

Black Diamond Therapeutics Stock Performance

Shares of BDTX opened at $2.19 on Friday. The stock has a 50 day simple moving average of $1.84 and a 200 day simple moving average of $2.24. Black Diamond Therapeutics has a 52-week low of $1.60 and a 52-week high of $4.94. The firm has a market capitalization of $125.82 million, a PE ratio of -2.92 and a beta of 3.28.

Black Diamond Therapeutics (NASDAQ:BDTX) last posted its earnings results on Wednesday, August 5th. The company reported ($0.17) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.03. Equities research analysts predict that Black Diamond Therapeutics will post -0.57 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. BlackRock Inc. bought a new stake in Black Diamond Therapeutics in the 2nd quarter valued at approximately $7,247,000. Vanguard Group Inc. grew its stake in shares of Black Diamond Therapeutics by 4.1% during the 3rd quarter. Vanguard Group Inc. now owns 2,188,857 shares of the company’s stock worth $8,296,000 after acquiring an additional 85,825 shares in the last quarter. Renaissance Technologies LLC raised its holdings in shares of Black Diamond Therapeutics by 73.1% in the first quarter. Renaissance Technologies LLC now owns 1,643,747 shares of the company’s stock valued at $3,501,000 after purchasing an additional 694,012 shares during the last quarter. Dimensional Fund Advisors LP lifted its position 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 worth $2,772,000 after purchasing an additional 444,649 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in Black Diamond Therapeutics during the second quarter worth $2,022,000. 95.47% of the stock is currently owned by institutional investors.

Black Diamond Therapeutics Company Profile

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.