Black Diamond Therapeutics (NASDAQ:BDTX) Earns “Overweight” Rating from Piper Sandler

Piper Sandler reissued their overweight rating on shares of Black Diamond Therapeutics (NASDAQ:BDTX) in a research report sent to investors on Wednesday morning, Benzinga reports. The firm currently has a $12.00 price target on the stock.

BDTX has been the subject of several other reports. Wedbush increased their price objective on Black Diamond Therapeutics from $10.00 to $16.00 and gave the stock an outperform rating in a report on Monday, April 8th. HC Wainwright reiterated a buy rating and set a $11.00 price objective on shares of Black Diamond Therapeutics in a report on Friday, June 7th.

Black Diamond Therapeutics Stock Up 0.7 %

BDTX opened at $4.47 on Wednesday. The stock has a fifty day moving average of $5.33 and a 200-day moving average of $4.57. The firm has a market capitalization of $251.45 million, a P/E ratio of -2.69 and a beta of 2.49. Black Diamond Therapeutics has a 12-month low of $1.62 and a 12-month high of $7.66.

Black Diamond Therapeutics (NASDAQ:BDTX) last released its earnings results on Thursday, May 9th. The company reported ($0.35) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.09. On average, analysts expect that Black Diamond Therapeutics will post -1.47 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Black Diamond Therapeutics

Several institutional investors have recently bought and sold shares of BDTX. Bellevue Group AG raised its holdings in Black Diamond Therapeutics by 4.9% during the fourth quarter. Bellevue Group AG now owns 8,535,839 shares of the company’s stock valued at $23,986,000 after buying an additional 400,000 shares in the last quarter. Cornercap Investment Counsel Inc. bought a new position in Black Diamond Therapeutics during the fourth quarter valued at about $233,000. Citigroup Inc. bought a new position in Black Diamond Therapeutics during the third quarter valued at about $176,000. Pale Fire Capital SE bought a new position in Black Diamond Therapeutics during the fourth quarter valued at about $144,000. Finally, Jump Financial LLC raised its holdings in Black Diamond Therapeutics by 245.0% during the fourth quarter. Jump Financial LLC now owns 38,888 shares of the company’s stock valued at $109,000 after buying an additional 27,616 shares in the last quarter. 95.47% of the stock is currently owned by institutional investors.

About Black Diamond Therapeutics

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.