Black Diamond Therapeutics (NASDAQ:BDTX) Earns “Buy” Rating from HC Wainwright

HC Wainwright reiterated their buy rating on shares of Black Diamond Therapeutics (NASDAQ:BDTX) in a research report sent to investors on Wednesday, Marketbeat reports. The firm currently has a $11.00 price target on the stock.

Several other equities analysts also recently weighed in on the company. Piper Sandler reiterated an overweight rating and set a $12.00 target price on shares of Black Diamond Therapeutics in a research report on Wednesday, July 3rd. Wedbush reiterated an outperform rating and set a $16.00 price objective on shares of Black Diamond Therapeutics in a report on Tuesday, September 10th. Finally, Raymond James initiated coverage on shares of Black Diamond Therapeutics in a report on Wednesday, July 31st. They issued an outperform rating and a $20.00 target price for the company.

Black Diamond Therapeutics Price Performance

NASDAQ:BDTX opened at $4.76 on Wednesday. The firm has a market cap of $267.76 million, a PE ratio of -2.87 and a beta of 2.49. The firm has a 50 day simple moving average of $5.69 and a 200-day simple moving average of $5.35. Black Diamond Therapeutics has a 1-year low of $1.62 and a 1-year high of $7.66.

Black Diamond Therapeutics (NASDAQ:BDTX) last issued its quarterly earnings results on Tuesday, August 6th. The company reported ($0.36) earnings per share for the quarter, beating the consensus estimate of ($0.39) by $0.03. As a group, sell-side analysts expect that Black Diamond Therapeutics will post -1.4 earnings per share for the current fiscal year.

Institutional Trading of Black Diamond Therapeutics

Institutional investors have recently added to or reduced their stakes in the business. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Black Diamond Therapeutics during the 1st quarter valued at about $82,000. Foundations Investment Advisors LLC lifted its position in shares of Black Diamond Therapeutics by 17.7% during the second quarter. Foundations Investment Advisors LLC now owns 113,550 shares of the company’s stock worth $529,000 after purchasing an additional 17,050 shares in the last quarter. Acadian Asset Management LLC boosted its stake in shares of Black Diamond Therapeutics by 13.8% in the first quarter. Acadian Asset Management LLC now owns 170,510 shares of the company’s stock valued at $864,000 after purchasing an additional 20,616 shares during the period. SG Americas Securities LLC acquired a new stake in Black Diamond Therapeutics during the 2nd quarter valued at $108,000. Finally, Jump Financial LLC increased its stake in Black Diamond Therapeutics by 245.0% during the 4th quarter. Jump Financial LLC now owns 38,888 shares of the company’s stock worth $109,000 after buying an additional 27,616 shares during the period. 95.47% of the stock is owned by hedge funds and other 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.