HC Wainwright Reiterates “Buy” Rating for Black Diamond Therapeutics (NASDAQ:BDTX)

HC Wainwright reissued their buy rating on shares of Black Diamond Therapeutics (NASDAQ:BDTX) in a research report released on Wednesday morning, Benzinga reports. The brokerage currently has a $11.00 price objective on the stock.

A number of other research analysts also recently commented on the stock. 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 price objective for the company. Wedbush reaffirmed an outperform rating and set a $16.00 price target on shares of Black Diamond Therapeutics in a research report on Wednesday, August 7th. Finally, Piper Sandler reaffirmed an overweight rating and set a $12.00 price target on shares of Black Diamond Therapeutics in a research note on Wednesday, July 3rd.

Black Diamond Therapeutics Stock Performance

Shares of BDTX opened at $5.62 on Wednesday. Black Diamond Therapeutics has a fifty-two week low of $1.62 and a fifty-two week high of $7.66. The company has a market capitalization of $317.59 million, a PE ratio of -3.39 and a beta of 2.49. The stock has a fifty day moving average of $5.53 and a two-hundred day moving average of $5.30.

Black Diamond Therapeutics (NASDAQ:BDTX) last announced its quarterly earnings data on Tuesday, August 6th. The company reported ($0.36) EPS for the quarter, beating analysts’ consensus estimates of ($0.39) by $0.03. As a group, equities research analysts forecast that Black Diamond Therapeutics will post -1.42 earnings per share for the current fiscal year.

Institutional Trading of Black Diamond Therapeutics

Institutional investors have recently modified their holdings of the company. Jump Financial LLC lifted its position 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. Pale Fire Capital SE acquired a new position in shares of Black Diamond Therapeutics during the 4th quarter valued at $144,000. Bellevue Group AG boosted its position 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 period. Susquehanna Fundamental Investments LLC acquired a new stake in Black Diamond Therapeutics in the 1st quarter valued at $82,000. Finally, Acadian Asset Management LLC increased its holdings in Black Diamond Therapeutics by 13.8% in the 1st 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 in the last quarter. Hedge funds and other institutional investors own 95.47% of the company’s stock.

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.