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

Shares of Black Diamond Therapeutics, Inc. (NASDAQ:BDTX) have received a consensus rating of “Moderate Buy” from the eight research firms that are covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $9.3333.

A number of research analysts have recently weighed in on the company. Weiss Ratings reiterated a “sell (d+)” rating on shares of Black Diamond Therapeutics in a report on Monday, December 29th. Guggenheim lowered Black Diamond Therapeutics from a “buy” rating to a “neutral” rating in a research report on Wednesday, December 3rd. Zacks Research downgraded Black Diamond Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Friday, February 6th. Finally, Piper Sandler reduced their price target 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.

Black Diamond Therapeutics Stock Performance

Black Diamond Therapeutics stock opened at $2.59 on Friday. Black Diamond Therapeutics has a 52 week low of $1.20 and a 52 week high of $4.94. The firm has a market capitalization of $147.55 million, a price-to-earnings ratio of 7.19 and a beta of 3.36. The company has a 50 day moving average price of $2.50 and a 200 day moving average price of $3.10.

Institutional Investors Weigh In On Black Diamond Therapeutics

A number of institutional investors have recently modified their holdings of BDTX. Invesco Ltd. increased its stake in shares of Black Diamond Therapeutics by 37.9% in the fourth quarter. Invesco Ltd. now owns 131,438 shares of the company’s stock worth $319,000 after acquiring an additional 36,094 shares during the last quarter. Mackenzie Financial Corp purchased a new position in Black Diamond Therapeutics in the fourth quarter valued at about $876,000. nVerses Capital LLC acquired a new position in Black Diamond Therapeutics in the 4th quarter worth about $26,000. Stokes Family Office LLC acquired a new position in Black Diamond Therapeutics in the 4th quarter worth about $27,000. Finally, Verdad Advisers LP purchased a new stake in shares of Black Diamond Therapeutics during the 4th quarter worth about $234,000. Institutional investors and hedge funds own 95.47% of the company’s stock.

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.