Black Diamond Therapeutics (NASDAQ:BDTX) Research Coverage Started at Guggenheim

Guggenheim initiated coverage on shares of Black Diamond Therapeutics (NASDAQ:BDTX) in a research report sent to investors on Wednesday morning, MarketBeat reports. The brokerage issued a buy rating and a $8.00 price target on the stock.

Other equities research analysts have also issued research reports about the stock. Wall Street Zen lowered shares of Black Diamond Therapeutics from a “buy” rating to a “hold” rating in a report on Saturday, August 9th. HC Wainwright cut their price target on shares of Black Diamond Therapeutics from $12.00 to $10.00 and set a “buy” rating on the stock in a research report on Monday, August 11th. Raymond James Financial upgraded shares of Black Diamond Therapeutics to an “outperform” rating and set a $11.00 target price on the stock in a report on Tuesday, July 1st. Finally, Zacks Research raised shares of Black Diamond Therapeutics to a “strong-buy” rating in a research note on Monday, August 11th. One research analyst has rated the stock with a Strong Buy rating and six have assigned a Buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $11.67.

Black Diamond Therapeutics Trading Up 2.4%

Shares of Black Diamond Therapeutics stock opened at $2.94 on Wednesday. The stock has a market capitalization of $167.40 million, a price-to-earnings ratio of 12.78 and a beta of 2.93. Black Diamond Therapeutics has a 1-year low of $1.20 and a 1-year high of $6.33. The firm has a fifty day simple moving average of $2.78 and a 200-day simple moving average of $2.19.

Black Diamond Therapeutics (NASDAQ:BDTX) last announced its quarterly earnings results on Thursday, August 7th. The company reported ($0.19) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.25) by $0.06. As a group, research analysts predict that Black Diamond Therapeutics will post -1.3 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. DLK Investment Management LLC increased its stake in shares of Black Diamond Therapeutics by 26.3% in the second quarter. DLK Investment Management LLC now owns 20,200 shares of the company’s stock valued at $50,000 after buying an additional 4,200 shares during the period. Wells Fargo & Company MN increased its stake in shares of 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 buying an additional 5,932 shares during the period. Barclays PLC increased its stake in shares of Black Diamond Therapeutics by 10.7% in the fourth quarter. Barclays PLC now owns 86,545 shares of the company’s stock valued at $186,000 after buying an additional 8,394 shares during the period. CWM LLC increased its stake in shares of Black Diamond Therapeutics by 212.2% in the second quarter. CWM LLC now owns 14,338 shares of the company’s stock valued at $36,000 after buying an additional 9,746 shares during the period. Finally, R Squared Ltd acquired a new position in shares of Black Diamond Therapeutics in the second quarter valued at approximately $25,000. Institutional investors and hedge funds own 95.47% of the company’s stock.

Black Diamond Therapeutics Company Profile

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.