Black Diamond Therapeutics, Inc. (NASDAQ:BDTX) Stock Has Average Price Target of $10.25 According to Brokerages

Shares of Black Diamond Therapeutics, Inc. (NASDAQ:BDTX) have received an average recommendation of “Moderate Buy” from the eleven analysts that are currently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $10.25.

Several equities analysts have recently commented on the stock. Jefferies Financial Group restated a “buy” rating on shares of Black Diamond Therapeutics in a report on Thursday, August 6th. TD Cowen reaffirmed a “buy” rating on shares of Black Diamond Therapeutics in a research note on Thursday, August 6th. Weiss Ratings lowered Black Diamond Therapeutics from a “sell (d)” rating to a “sell (d-)” rating in a report on Monday, July 13th. Finally, Raymond James Financial reissued an “outperform” rating on shares of Black Diamond Therapeutics in a research report on Thursday, August 6th.

Black Diamond Therapeutics Stock Performance

BDTX stock opened at $1.80 on Friday. The firm has a 50 day simple moving average of $1.99 and a 200 day simple moving average of $2.17. Black Diamond Therapeutics has a 52 week low of $1.60 and a 52 week high of $4.94. The stock has a market cap of $103.41 million, a P/E ratio of -2.40 and a beta of 3.32.

Black Diamond Therapeutics (NASDAQ:BDTX) last released its quarterly earnings data on Wednesday, August 5th. The company reported ($0.17) earnings per share for the quarter, beating the consensus estimate of ($0.20) by $0.03. Sell-side analysts predict that Black Diamond Therapeutics will post -0.57 EPS for the current year.

Institutional Investors Weigh In On Black Diamond Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in BDTX. BlackRock Inc. bought a new stake in shares of Black Diamond Therapeutics in the 2nd quarter valued at approximately $7,247,000. Renaissance Technologies LLC increased its holdings in Black Diamond Therapeutics by 73.1% in the first quarter. Renaissance Technologies LLC now owns 1,643,747 shares of the company’s stock worth $3,501,000 after buying an additional 694,012 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Black Diamond Therapeutics by 51.9% during the first quarter. Dimensional Fund Advisors LP now owns 1,301,664 shares of the company’s stock valued at $2,772,000 after acquiring an additional 444,649 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in Black Diamond Therapeutics during the second quarter valued at approximately $2,022,000. Finally, AWM Investment Company Inc. bought a new position in Black Diamond Therapeutics during the second quarter valued at approximately $1,850,000. 95.47% of the stock is owned by hedge funds and other institutional investors.

About Black Diamond Therapeutics

Black Diamond Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing precision medicines for genetically defined cancers. The company uses its MasterKey platform to identify cancer-driving mutations and develop small-molecule therapies intended to address mutations across multiple tumor types, rather than focusing exclusively on a single tissue or cancer diagnosis.

Its pipeline has included brain-penetrant targeted therapies designed for patients with oncogenic alterations in pathways such as EGFR and RAF.