Black Diamond Therapeutics (NASDAQ:BDTX) Receives Outperform Rating from Wedbush

Wedbush reissued their outperform rating on shares of Black Diamond Therapeutics (NASDAQ:BDTX) in a research report sent to investors on Wednesday,RTT News reports. Wedbush currently has a $11.00 price target on the stock.

A number of other research analysts have also recently weighed in on BDTX. Stifel Nicolaus dropped their price objective on shares of Black Diamond Therapeutics from $16.00 to $15.00 and set a “buy” rating for the company in a research note on Friday, March 7th. HC Wainwright raised their target price on shares of Black Diamond Therapeutics from $11.00 to $12.00 and gave the stock a “buy” rating in a research report on Tuesday. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Black Diamond Therapeutics currently has an average rating of “Buy” and a consensus price target of $14.60.

Black Diamond Therapeutics Price Performance

Shares of BDTX opened at $1.78 on Wednesday. The firm has a 50 day simple moving average of $2.16 and a 200-day simple moving average of $2.89. Black Diamond Therapeutics has a 1-year low of $1.59 and a 1-year high of $7.66. The stock has a market cap of $100.86 million, a price-to-earnings ratio of -1.34 and a beta of 2.52.

Black Diamond Therapeutics (NASDAQ:BDTX) last issued its quarterly earnings data on Thursday, March 6th. The company reported ($0.28) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.03. On average, equities analysts expect that Black Diamond Therapeutics will post -1.3 earnings per share for the current fiscal year.

Insider Buying and Selling at Black Diamond Therapeutics

In related news, major shareholder Growth N. V. Biotech sold 5,784,292 shares of Black Diamond Therapeutics stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $2.07, for a total transaction of $11,973,484.44. Following the transaction, the insider now owns 2,733,547 shares in the company, valued at approximately $5,658,442.29. The trade was a 67.91 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 8.87% of the stock is owned by company insiders.

Hedge Funds Weigh In On Black Diamond Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in BDTX. D. E. Shaw & Co. Inc. acquired a new position in shares of Black Diamond Therapeutics during the 4th quarter valued at $37,000. Intech Investment Management LLC lifted its holdings in shares of Black Diamond Therapeutics by 49.1% during the 4th quarter. Intech Investment Management LLC now owns 19,247 shares of the company’s stock valued at $41,000 after acquiring an additional 6,340 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Black Diamond Therapeutics by 429.6% during the 4th quarter. JPMorgan Chase & Co. now owns 18,929 shares of the company’s stock valued at $41,000 after acquiring an additional 15,355 shares in the last quarter. SG Americas Securities LLC purchased a new stake in Black Diamond Therapeutics during the 4th quarter worth $42,000. Finally, Wells Fargo & Company MN increased its stake in Black Diamond Therapeutics by 41.8% during the 4th quarter. Wells Fargo & Company MN now owns 20,119 shares of the company’s stock worth $43,000 after buying an additional 5,932 shares during the period. Institutional investors and hedge funds 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.