Brokerages Set Black Diamond Therapeutics, Inc. (NASDAQ:BDTX) Price Target at $14.60

Shares of Black Diamond Therapeutics, Inc. (NASDAQ:BDTX) have earned a consensus rating of “Buy” from the five analysts that are presently covering the stock, Marketbeat Ratings reports. Five research analysts have rated the stock with a buy rating. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $14.60.

A number of research firms have commented on BDTX. Wedbush restated an “outperform” rating and issued a $11.00 price objective on shares of Black Diamond Therapeutics in a research note on Wednesday, March 19th. HC Wainwright lifted their price objective on shares of Black Diamond Therapeutics from $11.00 to $12.00 and gave the company a “buy” rating in a research note on Tuesday, March 18th. Wall Street Zen upgraded shares of Black Diamond Therapeutics from a “hold” rating to a “buy” rating in a research note on Saturday, June 14th. Finally, Stifel Nicolaus dropped their price objective on shares of Black Diamond Therapeutics from $16.00 to $15.00 and set a “buy” rating on the stock in a research note on Friday, March 7th.

Hedge Funds Weigh In On Black Diamond Therapeutics

A number of large investors have recently modified their holdings of the business. Vestal Point Capital LP lifted its holdings in Black Diamond Therapeutics by 11.4% in the fourth quarter. Vestal Point Capital LP now owns 5,600,000 shares of the company’s stock valued at $11,984,000 after acquiring an additional 571,500 shares during the period. Tang Capital Management LLC grew its position in Black Diamond Therapeutics by 51.1% during the fourth quarter. Tang Capital Management LLC now owns 2,070,209 shares of the company’s stock worth $4,430,000 after buying an additional 700,000 shares during the period. Geode Capital Management LLC grew its position in Black Diamond Therapeutics by 1.5% during the fourth quarter. Geode Capital Management LLC now owns 959,316 shares of the company’s stock worth $2,053,000 after buying an additional 14,439 shares during the period. Renaissance Technologies LLC grew its position in Black Diamond Therapeutics by 256.2% during the fourth quarter. Renaissance Technologies LLC now owns 904,000 shares of the company’s stock worth $1,935,000 after buying an additional 650,200 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in Black Diamond Therapeutics by 158.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 661,436 shares of the company’s stock worth $1,416,000 after buying an additional 405,579 shares during the period. 95.47% of the stock is owned by hedge funds and other institutional investors.

Black Diamond Therapeutics Stock Performance

NASDAQ BDTX opened at $2.33 on Monday. The firm has a market cap of $132.48 million, a PE ratio of 38.83 and a beta of 2.71. Black Diamond Therapeutics has a one year low of $1.20 and a one year high of $6.75. The firm’s fifty day moving average is $1.92 and its two-hundred day moving average is $2.04.

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.