Black Diamond Therapeutics’ (BDTX) “Buy” Rating Reaffirmed at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Black Diamond Therapeutics (NASDAQ:BDTX) in a research note issued to investors on Wednesday, Benzinga reports. HC Wainwright currently has a $11.00 price objective on the stock.

Several other research firms have also recently weighed in on BDTX. Wedbush reaffirmed an “outperform” rating and set a $16.00 target price on shares of Black Diamond Therapeutics in a research note on Tuesday, October 8th. Piper Sandler boosted their price objective on shares of Black Diamond Therapeutics from $12.00 to $15.00 and gave the company an “overweight” rating in a research report on Monday, September 23rd. Finally, Raymond James initiated coverage on shares of Black Diamond Therapeutics in a research report on Wednesday, July 31st. They issued an “outperform” rating and a $20.00 target price for the company.

Black Diamond Therapeutics Stock Performance

Black Diamond Therapeutics stock opened at $3.29 on Wednesday. Black Diamond Therapeutics has a 52 week low of $1.62 and a 52 week high of $7.66. The firm has a market capitalization of $185.90 million, a price-to-earnings ratio of -2.47 and a beta of 2.51. The company has a 50 day moving average price of $4.21 and a 200 day moving average price of $5.02.

Black Diamond Therapeutics (NASDAQ:BDTX) last issued its earnings results on Tuesday, November 5th. The company reported ($0.28) EPS for the quarter, topping the consensus estimate of ($0.37) by $0.09. Equities analysts forecast that Black Diamond Therapeutics will post -1.44 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Black Diamond Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Vontobel Holding Ltd. bought a new stake in shares of Black Diamond Therapeutics in the 3rd quarter valued at approximately $68,000. Susquehanna Fundamental Investments LLC bought a new stake in Black Diamond Therapeutics in the first quarter worth approximately $82,000. Foundations Investment Advisors LLC increased its stake in shares of Black Diamond Therapeutics by 17.7% during the 2nd 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 during the last quarter. Acadian Asset Management LLC raised its holdings in shares of Black Diamond Therapeutics by 13.8% during 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. Finally, SG Americas Securities LLC bought a new position in shares of Black Diamond Therapeutics during the 2nd quarter valued at $108,000. 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.