Black Diamond Therapeutics (NASDAQ:BDTX) Announces Earnings Results

Black Diamond Therapeutics (NASDAQ:BDTX) announced its quarterly earnings results on Monday. The company reported ($0.27) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.09), FiscalAI reports.

Black Diamond Therapeutics Stock Up 3.1%

Shares of BDTX traded up $0.07 during mid-day trading on Monday, reaching $2.19. 300,904 shares of the stock traded hands, compared to its average volume of 772,717. The stock has a fifty day simple moving average of $2.43 and a 200 day simple moving average of $3.07. The firm has a market cap of $124.48 million, a price-to-earnings ratio of 6.07 and a beta of 3.34. Black Diamond Therapeutics has a 12-month low of $1.20 and a 12-month high of $4.94.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on BDTX shares. Piper Sandler cut their price objective on 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. Guggenheim downgraded shares of Black Diamond Therapeutics from a “buy” rating to a “neutral” rating in a research note on Wednesday, December 3rd. Zacks Research lowered Black Diamond Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 6th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Black Diamond Therapeutics in a research report on Monday, December 29th. Five equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Black Diamond Therapeutics currently has an average rating of “Moderate Buy” and a consensus target price of $9.33.

Institutional Trading of Black Diamond Therapeutics

Several institutional investors have recently added to or reduced their stakes in the business. nVerses Capital LLC bought a new position in shares of Black Diamond Therapeutics during the fourth quarter worth about $26,000. Hudson Bay Capital Management LP acquired a new stake in shares of Black Diamond Therapeutics during the 2nd quarter valued at $26,000. Cerity Partners LLC purchased a new position in Black Diamond Therapeutics in the 2nd quarter worth about $26,000. Stokes Family Office LLC purchased a new position in Black Diamond Therapeutics during the 4th quarter worth approximately $27,000. Finally, American Century Companies Inc. acquired a new stake in shares of Black Diamond Therapeutics during the second quarter worth approximately $30,000. Institutional investors own 95.47% of the company’s stock.

Black Diamond Therapeutics Company Profile

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.