Black Diamond Therapeutics (NASDAQ:BDTX) Rating Reiterated by HC Wainwright

HC Wainwright reiterated their buy rating on shares of Black Diamond Therapeutics (NASDAQ:BDTX) in a research note published on Wednesday, Benzinga reports. They currently have a $11.00 price objective on the stock. HC Wainwright also issued estimates for Black Diamond Therapeutics’ Q3 2024 earnings at ($0.37) EPS, Q4 2024 earnings at ($0.37) EPS, FY2024 earnings at ($1.46) EPS, Q1 2025 earnings at ($0.38) EPS, Q2 2025 earnings at ($0.39) EPS, Q3 2025 earnings at ($0.39) EPS, Q4 2025 earnings at ($0.40) EPS and FY2025 earnings at ($1.55) EPS.

Several other brokerages have also recently commented on BDTX. Raymond James initiated coverage on shares of Black Diamond Therapeutics in a research report on Wednesday, July 31st. They set an outperform rating and a $20.00 price target on the stock. Wedbush reissued an outperform rating and set a $16.00 price target on shares of Black Diamond Therapeutics in a research report on Wednesday, August 7th. Finally, Piper Sandler restated an overweight rating and set a $12.00 price objective on shares of Black Diamond Therapeutics in a research note on Wednesday, July 3rd.

Black Diamond Therapeutics Price Performance

Shares of NASDAQ:BDTX opened at $5.40 on Wednesday. The company’s 50-day moving average price is $5.55 and its two-hundred day moving average price is $5.30. Black Diamond Therapeutics has a one year low of $1.62 and a one year high of $7.66. The stock has a market capitalization of $303.77 million, a PE ratio of -3.25 and a beta of 2.49.

Black Diamond Therapeutics (NASDAQ:BDTX) last issued its quarterly earnings results on Tuesday, August 6th. The company reported ($0.36) EPS for the quarter, topping the consensus estimate of ($0.39) by $0.03. On average, analysts anticipate that Black Diamond Therapeutics will post -1.42 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Bellevue Group AG increased its stake in shares of Black Diamond Therapeutics by 4.9% during the 4th quarter. Bellevue Group AG now owns 8,535,839 shares of the company’s stock worth $23,986,000 after purchasing an additional 400,000 shares during the last quarter. Ally Bridge Group NY LLC acquired a new position in shares of Black Diamond Therapeutics during the 2nd quarter worth about $3,891,000. Affinity Asset Advisors LLC acquired a new position in Black Diamond Therapeutics in the 2nd quarter valued at about $3,029,000. TD Asset Management Inc grew its stake in Black Diamond Therapeutics by 275.9% in the 2nd quarter. TD Asset Management Inc now owns 266,312 shares of the company’s stock valued at $1,241,000 after buying an additional 195,464 shares during the last quarter. Finally, Renaissance Technologies LLC grew its stake in Black Diamond Therapeutics by 24.1% in the 2nd quarter. Renaissance Technologies LLC now owns 263,900 shares of the company’s stock valued at $1,230,000 after buying an additional 51,300 shares during the last quarter. 95.47% of the stock is currently owned by institutional investors and hedge funds.

About Black Diamond Therapeutics

Black Diamond Therapeutics, Inc, a clinical-stage oncology medicine company, focuses on the discovery and development of MasterKey therapies for patients with genetically defined tumors. The company's lead product candidate is BDTX-1535, a brain-penetrant epidermal growth factor receptor MasterKey inhibitor, which is in phase 2 clinical trial for the treatment of epidermal growth factor receptor mutant non-small cell lung cancer, as well as phase 1 clinical trial to treat glioblastoma.