Black Diamond Therapeutics, Inc. (NASDAQ:BDTX) Receives $10.25 Average PT from Analysts

Shares of Black Diamond Therapeutics, Inc. (NASDAQ:BDTX) have earned a consensus rating of “Moderate Buy” from the eleven analysts that are covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and eight have assigned a buy recommendation to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $10.25.

BDTX has been the topic of several research reports. HC Wainwright reiterated a “buy” rating on shares of Black Diamond Therapeutics in a research report on Friday, May 22nd. TD Cowen restated a “buy” rating on shares of Black Diamond Therapeutics in a research report on Thursday, August 6th. Raymond James Financial reaffirmed an “outperform” rating on shares of Black Diamond Therapeutics in a research note on Thursday, August 6th. Weiss Ratings lowered shares of Black Diamond Therapeutics from a “sell (d)” rating to a “sell (d-)” rating in a research report on Monday, July 13th. Finally, Jefferies Financial Group reissued a “buy” rating on shares of Black Diamond Therapeutics in a research note on Thursday, August 6th.

Black Diamond Therapeutics Stock Performance

Shares of BDTX opened at $1.98 on Wednesday. The company has a market cap of $113.76 million, a price-to-earnings ratio of -2.64 and a beta of 3.31. The stock has a fifty day moving average price of $1.97 and a two-hundred day moving average price of $2.22. Black Diamond Therapeutics has a 52-week low of $1.60 and a 52-week high of $4.94.

Black Diamond Therapeutics (NASDAQ:BDTX) last announced its earnings results on Wednesday, August 5th. The company reported ($0.17) EPS for the quarter, topping the consensus estimate of ($0.20) by $0.03. As a group, 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 bought and sold shares of the company. Cerity Partners LLC acquired a new stake in shares of Black Diamond Therapeutics in the 2nd quarter valued at $26,000. Virtu Financial LLC acquired a new position in shares of Black Diamond Therapeutics during the third quarter valued at $39,000. Hudson Bay Capital Management LP bought a new position in Black Diamond Therapeutics in the second quarter valued at about $26,000. nVerses Capital LLC bought a new position in Black Diamond Therapeutics in the fourth quarter valued at about $26,000. Finally, Stokes Family Office LLC bought a new position in Black Diamond Therapeutics in the fourth quarter valued at about $27,000. 95.47% of the stock is currently 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.