Black Diamond Therapeutics (NASDAQ:BDTX) Given New $12.00 Price Target at HC Wainwright

Black Diamond Therapeutics (NASDAQ:BDTX) had its target price increased by HC Wainwright from $11.00 to $12.00 in a research report report published on Tuesday morning,Benzinga reports. The brokerage currently has a buy rating on the stock. HC Wainwright also issued estimates for Black Diamond Therapeutics’ Q1 2025 earnings at ($0.32) EPS, Q2 2025 earnings at ($0.33) EPS, Q3 2025 earnings at ($0.33) EPS, Q4 2025 earnings at ($0.34) EPS and FY2025 earnings at ($1.32) EPS.

Other research analysts have also recently issued research reports about the stock. Wedbush reiterated an “outperform” rating and issued a $11.00 price target (down previously from $16.00) on shares of Black Diamond Therapeutics in a report on Friday, March 7th. Stifel Nicolaus reduced their price target on shares of Black Diamond Therapeutics from $16.00 to $15.00 and set a “buy” rating for the company in a report on Friday, March 7th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $14.60.

Black Diamond Therapeutics Stock Performance

Shares of NASDAQ:BDTX opened at $1.88 on Tuesday. Black Diamond Therapeutics has a 52 week low of $1.59 and a 52 week high of $7.66. The company has a market capitalization of $106.52 million, a PE ratio of -1.41 and a beta of 2.52. The company has a 50 day moving average price of $2.16 and a two-hundred day moving average price of $2.92.

Black Diamond Therapeutics (NASDAQ:BDTX) last issued its earnings results on Thursday, March 6th. The company reported ($0.28) EPS for the quarter, beating the consensus estimate of ($0.31) by $0.03. On average, sell-side analysts forecast that Black Diamond Therapeutics will post -1.3 earnings per share for the current year.

Insider Buying and Selling

In related news, major shareholder Growth N. V. Biotech sold 5,784,292 shares of the stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $2.07, for a total transaction of $11,973,484.44. Following the completion of the transaction, the insider now owns 2,733,547 shares in the company, valued at approximately $5,658,442.29. This represents a 67.91 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 8.87% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in BDTX. D. E. Shaw & Co. Inc. acquired a new position in Black Diamond Therapeutics during the fourth quarter worth $37,000. Intech Investment Management LLC boosted its holdings in Black Diamond Therapeutics by 49.1% during the fourth quarter. Intech Investment Management LLC now owns 19,247 shares of the company’s stock worth $41,000 after purchasing an additional 6,340 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Black Diamond Therapeutics by 429.6% in the fourth quarter. JPMorgan Chase & Co. now owns 18,929 shares of the company’s stock valued at $41,000 after acquiring an additional 15,355 shares during the last quarter. SG Americas Securities LLC acquired a new stake in Black Diamond Therapeutics in the fourth quarter valued at $42,000. Finally, Wells Fargo & Company MN lifted its stake in Black Diamond Therapeutics by 41.8% in the fourth quarter. Wells Fargo & Company MN now owns 20,119 shares of the company’s stock valued at $43,000 after acquiring an additional 5,932 shares during the last quarter. Institutional investors and hedge funds own 95.47% of the company’s stock.

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.