Black Diamond Therapeutics, Inc. (NASDAQ:BDTX) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Black Diamond Therapeutics, Inc. (NASDAQ:BDTX) have earned an average recommendation of “Moderate Buy” from the ten ratings firms that are currently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $10.00.

A number of analysts have recently weighed in on BDTX shares. Wall Street Zen downgraded shares of Black Diamond Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Piper Sandler decreased their price objective on shares of Black Diamond Therapeutics from $9.00 to $8.00 and set an “overweight” rating on the stock in a research note on Friday, January 16th. HC Wainwright restated a “buy” rating on shares of Black Diamond Therapeutics in a research report on Wednesday, April 29th. Jefferies Financial Group upgraded Black Diamond Therapeutics to a “strong-buy” rating in a research note on Thursday, April 23rd. Finally, Zacks Research lowered Black Diamond Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 6th.

Black Diamond Therapeutics Stock Performance

Shares of NASDAQ BDTX opened at $2.86 on Thursday. The stock has a market capitalization of $163.88 million, a P/E ratio of -3.71 and a beta of 3.34. The stock’s fifty day moving average is $2.52 and its 200 day moving average is $2.81. Black Diamond Therapeutics has a 52 week low of $1.77 and a 52 week high of $4.94.

Black Diamond Therapeutics (NASDAQ:BDTX) last posted its quarterly earnings data on Thursday, May 7th. The company reported ($0.16) earnings per share for the quarter, topping the consensus estimate of ($0.18) by $0.02. Equities research analysts forecast that Black Diamond Therapeutics will post -0.58 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Arrowstreet Capital Limited Partnership grew its holdings in shares of Black Diamond Therapeutics by 549.2% during the third quarter. Arrowstreet Capital Limited Partnership now owns 896,853 shares of the company’s stock worth $3,399,000 after purchasing an additional 758,709 shares during the last quarter. Marshall Wace LLP bought a new position in Black Diamond Therapeutics in the 2nd quarter valued at approximately $1,830,000. Dimensional Fund Advisors LP boosted its position in Black Diamond Therapeutics by 51.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,301,664 shares of the company’s stock worth $2,772,000 after buying an additional 444,649 shares during the period. WINTON GROUP Ltd bought a new stake in Black Diamond Therapeutics during the 4th quarter worth approximately $1,024,000. Finally, Mackenzie Financial Corp bought a new stake in Black Diamond Therapeutics during the 4th quarter worth approximately $876,000. 95.47% of the stock is currently owned by institutional investors and hedge funds.

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.