Black Diamond Therapeutics (NASDAQ:BDTX) Earns Outperform Rating from Wedbush

Wedbush restated their outperform rating on shares of Black Diamond Therapeutics (NASDAQ:BDTX) in a research report released on Wednesday,RTT News reports. Wedbush currently has a $11.00 price objective on the stock.

A number of other research analysts have also weighed in on BDTX. HC Wainwright lifted their price target on shares of Black Diamond Therapeutics from $11.00 to $12.00 and gave the company a “buy” rating in a research note on Tuesday. Stifel Nicolaus cut their price target on shares of Black Diamond Therapeutics from $16.00 to $15.00 and set a “buy” rating on the stock in a research note on Friday, March 7th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $14.60.

Black Diamond Therapeutics Price Performance

Black Diamond Therapeutics stock opened at $1.72 on Wednesday. The company’s 50 day simple moving average is $2.17 and its 200 day simple moving average is $2.93. Black Diamond Therapeutics has a fifty-two week low of $1.59 and a fifty-two week high of $7.66. The firm has a market capitalization of $97.46 million, a price-to-earnings ratio of -1.29 and a beta of 2.52.

Black Diamond Therapeutics (NASDAQ:BDTX) last announced its quarterly earnings results on Thursday, March 6th. The company reported ($0.28) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.03. As a group, analysts predict that Black Diamond Therapeutics will post -1.3 EPS for the current fiscal year.

Institutional Trading of Black Diamond Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the business. Vestal Point Capital LP raised its holdings in shares of Black Diamond Therapeutics by 139.5% in the third quarter. Vestal Point Capital LP now owns 5,028,500 shares of the company’s stock valued at $21,874,000 after purchasing an additional 2,928,500 shares during the last quarter. Point72 Asset Management L.P. acquired a new stake in shares of Black Diamond Therapeutics in the third quarter valued at approximately $3,032,000. FMR LLC acquired a new stake in shares of Black Diamond Therapeutics in the third quarter valued at approximately $779,000. Barclays PLC raised its holdings in shares of Black Diamond Therapeutics by 201.9% in the third quarter. Barclays PLC now owns 78,151 shares of the company’s stock valued at $339,000 after purchasing an additional 52,265 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new position in Black Diamond Therapeutics during the fourth quarter worth $42,000. 95.47% of the stock is currently owned by institutional investors and hedge funds.

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.