Black Diamond Therapeutics, Inc. (NASDAQ:BDTX) Receives $10.25 Consensus Target Price from Analysts

Shares of Black Diamond Therapeutics, Inc. (NASDAQ:BDTX) have earned a consensus rating of “Moderate Buy” from the eleven ratings firms that are presently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and eight have assigned a buy recommendation to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $10.25.

BDTX has been the subject of a number of recent research reports. TD Cowen reiterated a “buy” rating on shares of Black Diamond Therapeutics in a report on Thursday, August 6th. HC Wainwright reiterated a “buy” rating on shares of Black Diamond Therapeutics in a research report on Friday, May 22nd. Weiss Ratings downgraded Black Diamond Therapeutics from a “sell (d)” rating to a “sell (d-)” rating in a research report on Monday, July 13th. Raymond James Financial reaffirmed an “outperform” rating on shares of Black Diamond Therapeutics in a report on Thursday, August 6th. Finally, Jefferies Financial Group restated a “buy” rating on shares of Black Diamond Therapeutics in a research report on Thursday, August 6th.

Black Diamond Therapeutics Price Performance

BDTX opened at $1.98 on Wednesday. The stock’s fifty day moving average is $1.97 and its two-hundred day moving average is $2.22. The company has a market capitalization of $113.75 million, a P/E ratio of -2.64 and a beta of 3.31. Black Diamond Therapeutics has a 52 week low of $1.60 and a 52 week high of $4.94.

Black Diamond Therapeutics (NASDAQ:BDTX) last posted its quarterly earnings results on Wednesday, August 5th. The company reported ($0.17) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.03. Equities analysts anticipate that Black Diamond Therapeutics will post -0.57 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Renaissance Technologies LLC increased its position in Black Diamond Therapeutics by 73.1% during the first quarter. Renaissance Technologies LLC now owns 1,643,747 shares of the company’s stock worth $3,501,000 after purchasing an additional 694,012 shares during the last quarter. BlackRock Inc. purchased a new stake in shares of Black Diamond Therapeutics during the 2nd quarter valued at approximately $7,247,000. AWM Investment Company Inc. purchased a new position in Black Diamond Therapeutics in the second quarter worth approximately $1,850,000. Dimensional Fund Advisors LP increased its stake 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 worth $2,772,000 after acquiring an additional 444,649 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Black Diamond Therapeutics in the second quarter valued at $2,022,000. Hedge funds and other institutional investors own 95.47% of the company’s stock.

About Black Diamond Therapeutics

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.