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

Black Diamond Therapeutics (NASDAQ:BDTX)‘s stock had its “buy” rating reaffirmed by stock analysts at HC Wainwright in a research report issued on Tuesday, Benzinga reports. They presently have a $11.00 price objective on the stock. HC Wainwright’s price objective points to a potential upside of 144.44% from the company’s current price.

Other analysts also recently issued research reports about the company. Piper Sandler lifted their target price on Black Diamond Therapeutics from $12.00 to $15.00 and gave the company an “overweight” rating in a research note on Monday. Raymond James initiated coverage on shares of Black Diamond Therapeutics in a research note on Wednesday, July 31st. They set an “outperform” rating and a $20.00 target price on the stock. Finally, Wedbush reiterated an “outperform” rating and set a $16.00 price target on shares of Black Diamond Therapeutics in a research report on Tuesday, September 10th.

Black Diamond Therapeutics Stock Down 5.5 %

Shares of NASDAQ BDTX opened at $4.50 on Tuesday. The firm’s 50-day moving average price is $5.66 and its two-hundred day moving average price is $5.36. Black Diamond Therapeutics has a 52-week low of $1.62 and a 52-week high of $7.66. The stock has a market capitalization of $253.14 million, a P/E ratio of -2.71 and a beta of 2.49.

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

Institutional Trading of Black Diamond Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the business. Susquehanna Fundamental Investments LLC acquired a new position in Black Diamond Therapeutics in the first quarter worth approximately $82,000. SG Americas Securities LLC acquired a new stake in Black Diamond Therapeutics during the 2nd quarter worth about $108,000. Jump Financial LLC raised its holdings 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. Algert Global LLC purchased a new stake in Black Diamond Therapeutics during the second quarter valued at about $133,000. Finally, Pale Fire Capital SE acquired a new position in shares of Black Diamond Therapeutics in the fourth quarter worth about $144,000. 95.47% of the stock is currently owned by institutional investors.

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.