Black Diamond Therapeutics (NASDAQ:BDTX) Rating Reiterated by Piper Sandler

Black Diamond Therapeutics (NASDAQ:BDTX)‘s stock had its “overweight” rating reissued by stock analysts at Piper Sandler in a report issued on Wednesday, Benzinga reports. They presently have a $12.00 target price on the stock. Piper Sandler’s price target points to a potential upside of 170.27% from the company’s previous close.

Other analysts have also recently issued reports about the company. HC Wainwright restated a “buy” rating and set a $11.00 price target on shares of Black Diamond Therapeutics in a report on Friday, June 7th. Wedbush lifted their target price on shares of Black Diamond Therapeutics from $10.00 to $16.00 and gave the stock an “outperform” rating in a research report on Monday, April 8th.

Black Diamond Therapeutics Price Performance

BDTX stock opened at $4.44 on Wednesday. The stock has a market cap of $249.75 million, a price-to-earnings ratio of -2.67 and a beta of 2.49. The company has a 50 day simple moving average of $5.36 and a 200 day simple moving average of $4.56. 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 announced its quarterly earnings results on Thursday, May 9th. The company reported ($0.35) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.44) by $0.09. On average, equities research analysts anticipate that Black Diamond Therapeutics will post -1.47 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Acadian Asset Management LLC raised its position in shares of Black Diamond Therapeutics by 13.8% during the first quarter. Acadian Asset Management LLC now owns 170,510 shares of the company’s stock worth $864,000 after acquiring an additional 20,616 shares during the last quarter. Susquehanna Fundamental Investments LLC acquired a new stake in Black Diamond Therapeutics during the 1st quarter valued at approximately $82,000. Bellevue Group AG raised its holdings in Black Diamond Therapeutics by 4.9% during the 4th quarter. Bellevue Group AG now owns 8,535,839 shares of the company’s stock worth $23,986,000 after purchasing an additional 400,000 shares during the last quarter. Pale Fire Capital SE acquired a new position in shares of Black Diamond Therapeutics in the 4th quarter worth approximately $144,000. Finally, Jump Financial LLC boosted its stake in shares of Black Diamond Therapeutics by 245.0% in the 4th quarter. Jump Financial LLC now owns 38,888 shares of the company’s stock valued at $109,000 after purchasing an additional 27,616 shares during the last quarter. 95.47% of the stock is 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.