Black Diamond Therapeutics (NASDAQ:BDTX) Posts Earnings Results, Beats Estimates By $0.07 EPS

Black Diamond Therapeutics (NASDAQ:BDTX) released its quarterly earnings data on Tuesday. The company reported ($0.15) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.07, Zacks reports.

Black Diamond Therapeutics Trading Up 2.8%

Shares of BDTX traded up $0.11 on Thursday, reaching $3.98. The company’s stock had a trading volume of 963,742 shares, compared to its average volume of 1,699,814. Black Diamond Therapeutics has a twelve month low of $1.20 and a twelve month high of $4.45. The stock has a market capitalization of $226.60 million, a PE ratio of 17.31 and a beta of 3.12. The firm has a fifty day moving average of $3.56 and a 200-day moving average of $2.80.

Institutional Investors Weigh In On Black Diamond Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in BDTX. Marshall Wace LLP acquired a new stake in shares of Black Diamond Therapeutics in the 2nd quarter worth about $1,830,000. Jane Street Group LLC purchased a new stake in Black Diamond Therapeutics in the 2nd quarter valued at about $517,000. Arrowstreet Capital Limited Partnership purchased a new stake in Black Diamond Therapeutics in the 2nd quarter valued at about $343,000. AQR Capital Management LLC purchased a new stake in Black Diamond Therapeutics in the 1st quarter valued at about $84,000. Finally, Man Group plc purchased a new stake in Black Diamond Therapeutics in the 2nd quarter valued at about $103,000. Institutional investors and hedge funds own 95.47% of the company’s stock.

Wall Street Analysts Forecast Growth

BDTX has been the topic of a number of research analyst reports. Zacks Research cut shares of Black Diamond Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 10th. Stifel Nicolaus initiated coverage on shares of Black Diamond Therapeutics in a research report on Wednesday, October 15th. They set a “buy” rating and a $8.00 price objective on the stock. HC Wainwright cut their price objective 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. Guggenheim initiated coverage on shares of Black Diamond Therapeutics in a research report on Wednesday, September 3rd. They set a “buy” rating and a $8.00 price objective on the stock. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Black Diamond Therapeutics in a research report on Wednesday, October 8th. Five investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Black Diamond Therapeutics presently has an average rating of “Moderate Buy” and an average price target of $9.60.

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.