Black Diamond Therapeutics (NASDAQ:BDTX) Stock Price Expected to Rise, HC Wainwright Analyst Says

Black Diamond Therapeutics (NASDAQ:BDTX) had its price target raised by HC Wainwright from $11.00 to $12.00 in a report released on Tuesday,Benzinga reports. HC Wainwright currently has a buy rating on the stock.

Several other research firms have also issued reports on BDTX. Wedbush restated an “outperform” rating and set a $11.00 price target (down from $16.00) on shares of Black Diamond Therapeutics in a research report on Friday, March 7th. Stifel Nicolaus reduced their price target on Black Diamond Therapeutics from $16.00 to $15.00 and set a “buy” rating on the stock in a research report on Friday, March 7th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $14.60.

Black Diamond Therapeutics Trading Down 1.8 %

Shares of NASDAQ BDTX opened at $1.68 on Tuesday. The stock has a market cap of $95.19 million, a price-to-earnings ratio of -1.26 and a beta of 2.52. Black Diamond Therapeutics has a 1-year low of $1.59 and a 1-year high of $7.66. The stock’s 50-day moving average is $2.17 and its 200 day moving average is $2.93.

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

Institutional Investors Weigh In On Black Diamond Therapeutics

Large investors have recently made changes to their positions in the business. Vestal Point Capital LP grew its position in shares of Black Diamond Therapeutics by 139.5% in the 3rd quarter. Vestal Point Capital LP now owns 5,028,500 shares of the company’s stock worth $21,874,000 after buying an additional 2,928,500 shares during the last quarter. Point72 Asset Management L.P. bought a new stake in shares of Black Diamond Therapeutics in the 3rd quarter worth approximately $3,032,000. FMR LLC bought a new stake in shares of Black Diamond Therapeutics during the third quarter valued at approximately $779,000. Barclays PLC boosted its position in shares of Black Diamond Therapeutics by 201.9% during the third quarter. Barclays PLC now owns 78,151 shares of the company’s stock valued at $339,000 after purchasing an additional 52,265 shares in the last quarter. Finally, SG Americas Securities LLC bought a new stake in shares of Black Diamond Therapeutics during the fourth quarter valued at approximately $42,000. 95.47% of the stock is currently owned by 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.