Black Diamond Therapeutics (NASDAQ:BDTX) Cut to “Neutral” at Guggenheim

Guggenheim downgraded shares of Black Diamond Therapeutics (NASDAQ:BDTX) from a buy rating to a neutral rating in a research note published on Wednesday, MarketBeat Ratings reports.

Several other analysts also recently weighed in on BDTX. Stifel Nicolaus began coverage on Black Diamond Therapeutics in a research note on Wednesday, October 15th. They set a “buy” rating and a $8.00 price target on the stock. HC Wainwright dropped their target price on Black Diamond Therapeutics from $12.00 to $10.00 and set a “buy” rating on the stock in a research report on Monday, August 11th. Piper Sandler started coverage on shares of Black Diamond Therapeutics in a research report on Tuesday, November 18th. They set an “overweight” rating and a $9.00 price target for the company. Wall Street Zen cut shares of Black Diamond Therapeutics from a “buy” rating to a “hold” rating in a research note on Saturday, August 9th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Black Diamond Therapeutics in a research note on Monday. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $9.50.

Black Diamond Therapeutics Trading Down 1.5%

NASDAQ:BDTX opened at $2.67 on Wednesday. Black Diamond Therapeutics has a twelve month low of $1.20 and a twelve month high of $4.94. The company has a market cap of $152.11 million, a PE ratio of 7.42 and a beta of 3.33. The company’s 50 day moving average is $3.87 and its two-hundred day moving average is $3.11.

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

Institutional Trading of Black Diamond Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Invesco Ltd. raised its position in shares of Black Diamond Therapeutics by 152.5% in the first quarter. Invesco Ltd. now owns 45,989 shares of the company’s stock worth $71,000 after acquiring an additional 27,777 shares during the period. AWM Investment Company Inc. purchased a new position in shares of Black Diamond Therapeutics in the 1st quarter valued at about $775,000. AQR Capital Management LLC acquired a new position in Black Diamond Therapeutics in the 1st quarter worth about $84,000. DLK Investment Management LLC raised its holdings in Black Diamond Therapeutics by 26.3% in the 2nd quarter. DLK Investment Management LLC now owns 20,200 shares of the company’s stock worth $50,000 after purchasing an additional 4,200 shares during the period. Finally, Wealth Enhancement Advisory Services LLC purchased a new position in Black Diamond Therapeutics during the second quarter worth approximately $28,000. 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.