Black Diamond Therapeutics (NASDAQ:BDTX) Trading Down 1.1% – What’s Next?

Shares of Black Diamond Therapeutics, Inc. (NASDAQ:BDTX) were down 1.1% during trading on Friday . The company traded as low as $1.78 and last traded at $1.79. Approximately 708,166 shares traded hands during trading, a decline of 62% from the average session volume of 1,840,584 shares. The stock had previously closed at $1.81.

Analyst Ratings Changes

BDTX has been the subject of a number of recent research reports. BTIG Research boosted their target price on Black Diamond Therapeutics from $10.00 to $11.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. Jefferies Financial Group upgraded shares of Black Diamond Therapeutics to a “strong-buy” rating in a report on Thursday, April 23rd. TD Cowen reaffirmed a “buy” rating on shares of Black Diamond Therapeutics in a report on Friday, May 22nd. HC Wainwright reiterated a “buy” rating on shares of Black Diamond Therapeutics in a research report on Friday, May 22nd. Finally, 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. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Black Diamond Therapeutics currently has an average rating of “Moderate Buy” and a consensus price target of $9.83.

Black Diamond Therapeutics Stock Down 1.1%

The company has a market cap of $102.57 million, a P/E ratio of -2.32 and a beta of 3.25. The business has a fifty day simple moving average of $2.11 and a two-hundred day simple moving average of $2.36.

Black Diamond Therapeutics (NASDAQ:BDTX) last released its quarterly earnings data on Thursday, May 7th. The company reported ($0.16) EPS for the quarter, beating the consensus estimate of ($0.18) by $0.02. On average, equities analysts predict that Black Diamond Therapeutics, Inc. will post -0.6 EPS for the current fiscal year.

Hedge Funds Weigh In On Black Diamond Therapeutics

Several institutional investors have recently added to or reduced their stakes in BDTX. Cerity Partners LLC purchased a new stake in shares of Black Diamond Therapeutics in the second quarter valued at approximately $26,000. Hudson Bay Capital Management LP bought a new stake in Black Diamond Therapeutics during the 2nd quarter valued at $26,000. nVerses Capital LLC purchased a new stake in shares of Black Diamond Therapeutics in the 4th quarter worth $26,000. Stokes Family Office LLC purchased a new stake in shares of Black Diamond Therapeutics in the 4th quarter worth $27,000. Finally, Brookstone Capital Management bought a new position in shares of Black Diamond Therapeutics during the 1st quarter worth $30,000. Hedge funds and other institutional investors own 95.47% of the company’s stock.

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.