Black Diamond Therapeutics (NASDAQ:BDTX) Issues Quarterly Earnings Results, Misses Expectations By $0.09 EPS

Black Diamond Therapeutics (NASDAQ:BDTX) issued its quarterly earnings results on Monday. The company reported ($0.27) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.18) by ($0.09), FiscalAI reports.

Black Diamond Therapeutics Price Performance

Shares of NASDAQ:BDTX traded up $0.07 during trading on Monday, reaching $2.19. 329,358 shares of the stock were exchanged, compared to its average volume of 773,083. Black Diamond Therapeutics has a 1-year low of $1.20 and a 1-year high of $4.94. The stock has a fifty day moving average of $2.43 and a two-hundred day moving average of $3.07. The firm has a market cap of $124.76 million, a price-to-earnings ratio of 6.08 and a beta of 3.34.

Wall Street Analyst Weigh In

BDTX has been the subject of several recent analyst reports. Piper Sandler reduced their price objective on shares of 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 lowered shares of Black Diamond Therapeutics from a “buy” rating to a “neutral” rating in a research note on Wednesday, December 3rd. Zacks Research cut shares of Black Diamond Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Friday, February 6th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Black Diamond Therapeutics in a research note on Monday, December 29th. Five analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $9.33.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. AQR Capital Management LLC acquired a new stake in shares of Black Diamond Therapeutics in the 1st quarter worth about $84,000. Engineers Gate Manager LP purchased a new stake in shares of Black Diamond Therapeutics in the second quarter worth approximately $82,000. Invesco Ltd. lifted its holdings 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 valued at $71,000 after purchasing an additional 27,777 shares in the last quarter. HRT Financial LP purchased a new position in shares of Black Diamond Therapeutics during the fourth quarter valued at approximately $64,000. Finally, Tower Research Capital LLC TRC boosted its position in shares of Black Diamond Therapeutics by 217.6% during the second quarter. Tower Research Capital LLC TRC now owns 21,031 shares of the company’s stock valued at $52,000 after buying an additional 14,410 shares during the last quarter. 95.47% of the stock is owned by 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.