Black Diamond Therapeutics' (BDTX) Sell (D) Rating Reaffirmed at Weiss Ratings

Key Points

• Black Diamond Therapeutics has received a "sell (d)" rating from Weiss Ratings, indicating a negative outlook on its stock performance.
• Despite the sell rating, the stock has a consensus rating of "Moderate Buy" with an average price target of $11.00 from various analysts.
• The company's lead product, BDTX-1535, is currently in phase 2 clinical trials for the treatment of non-small cell lung cancer, highlighting its focus on oncology medicine.

Black Diamond Therapeutics (NASDAQ:BDTX - Get Free Report)'s stock had its "sell (d)" rating reissued by research analysts at Weiss Ratings in a research note issued to investors on Wednesday,Weiss Ratings reports.

Several other research analysts have also recently commented on BDTX. HC Wainwright cut their price target on Black Diamond Therapeutics from $12.00 to $10.00 and set a "buy" rating on the stock in a research note on Monday, August 11th. Wall Street Zen cut Black Diamond Therapeutics from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Zacks Research upgraded Black Diamond Therapeutics to a "strong-buy" rating in a research note on Monday, August 11th. Raymond James Financial upgraded Black Diamond Therapeutics to an "outperform" rating and set a $11.00 price target on the stock in a research note on Tuesday, July 1st. Finally, Guggenheim began coverage on Black Diamond Therapeutics in a research note on Wednesday, September 3rd. They issued a "buy" rating and a $8.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $11.00.

Black Diamond Therapeutics Price Performance

BDTX stock traded up $0.08 during trading on Wednesday, reaching $3.99. 757,423 shares of the stock traded hands, compared to its average volume of 1,793,297. The business's 50 day moving average price is $3.03 and its 200-day moving average price is $2.43. Black Diamond Therapeutics has a 52-week low of $1.20 and a 52-week high of $4.11. The firm has a market capitalization of $227.19 million, a PE ratio of 17.35 and a beta of 3.07.

Black Diamond Therapeutics (NASDAQ:BDTX - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported ($0.19) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.25) by $0.06. On average, equities research analysts predict that Black Diamond Therapeutics will post -1.3 earnings per share for the current year.

Hedge Funds Weigh In On Black Diamond Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Marshall Wace LLP bought a new position in Black Diamond Therapeutics during the 2nd quarter valued at $1,830,000. AWM Investment Company Inc. acquired a new stake in shares of Black Diamond Therapeutics during the 1st quarter valued at $775,000. Jane Street Group LLC acquired a new stake in shares of Black Diamond Therapeutics during the 2nd quarter valued at $517,000. XTX Topco Ltd lifted its position in shares of Black Diamond Therapeutics by 324.7% during the 2nd quarter. XTX Topco Ltd now owns 179,234 shares of the company's stock valued at $444,000 after acquiring an additional 137,036 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in shares of Black Diamond Therapeutics during the 2nd quarter valued at $343,000. 95.47% of the stock is 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.

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