Black Diamond Therapeutics (NASDAQ:BDTX) Rating Reiterated by Wedbush

Black Diamond Therapeutics (NASDAQ:BDTX)‘s stock had its “outperform” rating reiterated by investment analysts at Wedbush in a research note issued to investors on Wednesday, Benzinga reports. They presently have a $16.00 price target on the stock. Wedbush’s price target suggests a potential upside of 229.90% from the company’s current price.

Other equities research analysts also recently issued reports about the stock. 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 price objective for the company. HC Wainwright reaffirmed a “buy” rating and issued a $11.00 price objective on shares of Black Diamond Therapeutics in a research report on Friday, June 7th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $12.00 price objective on shares of Black Diamond Therapeutics in a research report on Wednesday, July 3rd.

Black Diamond Therapeutics Price Performance

Shares of NASDAQ:BDTX traded down $0.16 during midday trading on Wednesday, hitting $4.85. 87,226 shares of the company’s stock were exchanged, compared to its average volume of 651,721. The stock has a 50 day moving average price of $5.32 and a 200-day moving average price of $5.04. The company has a market cap of $272.83 million, a PE ratio of -2.96 and a beta of 2.49. Black Diamond Therapeutics has a 12 month low of $1.62 and a 12 month high of $7.66.

Black Diamond Therapeutics (NASDAQ:BDTX) last posted its earnings results on Thursday, May 9th. The company reported ($0.35) EPS for the quarter, topping the consensus estimate of ($0.44) by $0.09. On average, analysts anticipate that Black Diamond Therapeutics will post -1.43 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Black Diamond Therapeutics during the 1st quarter valued at approximately $82,000. Foundations Investment Advisors LLC lifted 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 valued at $529,000 after buying an additional 17,050 shares in the last quarter. Acadian Asset Management LLC lifted its stake 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 buying an additional 20,616 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of Black Diamond Therapeutics during the 2nd quarter valued at approximately $108,000. Finally, Jump Financial LLC lifted its stake in Black Diamond Therapeutics by 245.0% in the 4th quarter. Jump Financial LLC now owns 38,888 shares of the company’s stock worth $109,000 after purchasing an additional 27,616 shares in the last quarter. 95.47% of the stock is 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.