Black Diamond Therapeutics, Inc. (NASDAQ:BDTX) Stock Has Average Target Price of $11.00

Shares of Black Diamond Therapeutics, Inc. (NASDAQ:BDTX) have received a consensus rating of “Moderate Buy” from the ten research firms that are covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $11.00.

A number of analysts have recently weighed in on the stock. Jefferies Financial Group reaffirmed a “buy” rating on shares of Black Diamond Therapeutics in a research note on Thursday, August 6th. HC Wainwright reiterated a “buy” rating on shares of Black Diamond Therapeutics in a research note on Thursday. Raymond James Financial reissued an “outperform” rating on shares of Black Diamond Therapeutics in a report on Thursday, August 6th. Weiss Ratings reissued a “sell (d-)” rating on shares of Black Diamond Therapeutics in a report on Friday, October 9th. Finally, Wall Street Zen upgraded Black Diamond Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, October 24th.

Black Diamond Therapeutics Stock Down 4.3%

Shares of NASDAQ BDTX opened at $1.78 on Thursday. Black Diamond Therapeutics has a fifty-two week low of $1.60 and a fifty-two week high of $4.94. The firm’s 50-day simple moving average is $1.95 and its 200 day simple moving average is $2.19. The stock has a market cap of $102.26 million, a P/E ratio of -2.37 and a beta of 3.32.

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

Institutional Trading of Black Diamond Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of BDTX. Beacon Capital Management LLC raised its position in Black Diamond Therapeutics by 64.0% in the third quarter. Beacon Capital Management LLC now owns 25,615 shares of the company’s stock worth $48,000 after acquiring an additional 10,000 shares in the last quarter. Spark Investment Management LLC acquired a new stake in Black Diamond Therapeutics in the 2nd quarter valued at about $29,000. RB Capital Management LLC acquired a new stake in Black Diamond Therapeutics in the 2nd quarter valued at about $185,000. Empowered Funds LLC bought a new position in shares of Black Diamond Therapeutics during the 2nd quarter valued at about $459,000. Finally, Bank of America Corp DE bought a new position in shares of Black Diamond Therapeutics during the 2nd quarter valued at about $765,000. Institutional investors own 95.47% of the company’s stock.

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 proprietary MasterKey platform to identify and develop small-molecule therapies designed to address oncogenic mutations across multiple tumor types, including alterations that may be difficult to target with conventional approaches.

Black Diamond’s pipeline has included brain-penetrant therapies for cancers affecting the central nervous system.