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

Key Points

• Black Diamond Therapeutics (BDTX) was given a "sell (D)" rating by Weiss Ratings, indicating a negative outlook on the stock's performance.
• The company's stock has seen a significant price reduction in target forecasts, with HC Wainwright lowering it from $12.00 to $10.00 while maintaining a "buy" rating.
• Black Diamond Therapeutics recently reported earnings of ($0.19) EPS, surpassing expectations of ($0.25) EPS, suggesting a potential positive shift in financial performance.

Black Diamond Therapeutics (NASDAQ:BDTX - Get Free Report)'s stock had its "sell (d)" rating reissued by analysts at Weiss Ratings in a report released on Friday,Weiss Ratings reports.

Other research analysts also recently issued reports about the company. HC Wainwright reduced their target price on Black Diamond Therapeutics from $12.00 to $10.00 and set a "buy" rating for the company in a research note on Monday, August 11th. Stifel Nicolaus assumed coverage on Black Diamond Therapeutics in a research note on Wednesday, October 15th. They issued a "buy" rating and a $8.00 price target for the company. Guggenheim assumed coverage on Black Diamond Therapeutics in a research note on Wednesday, September 3rd. They issued a "buy" rating and a $8.00 price target for the company. Wall Street Zen downgraded Black Diamond Therapeutics from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Finally, Raymond James Financial upgraded Black Diamond Therapeutics to an "outperform" rating and set a $11.00 price target for the company in a research note on Tuesday, July 1st. Five analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Black Diamond Therapeutics presently has an average rating of "Moderate Buy" and a consensus price target of $9.60.

Black Diamond Therapeutics Stock Performance

Black Diamond Therapeutics stock traded up $0.06 during midday trading on Friday, reaching $3.94. The stock had a trading volume of 486,210 shares, compared to its average volume of 1,744,500. The firm's fifty day simple moving average is $3.36 and its 200-day simple moving average is $2.62. Black Diamond Therapeutics has a 1-year low of $1.20 and a 1-year high of $4.45. The stock has a market capitalization of $224.34 million, a P/E ratio of 17.13 and a beta of 3.07.

Black Diamond Therapeutics (NASDAQ:BDTX - Get Free Report) last announced its 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, sell-side analysts anticipate that Black Diamond Therapeutics will post -1.3 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Black Diamond Therapeutics

Institutional investors have recently made changes to their positions in the stock. R Squared Ltd bought a new stake in shares of Black Diamond Therapeutics in the 2nd quarter valued at about $25,000. Cerity Partners LLC bought a new stake in shares of Black Diamond Therapeutics in the 2nd quarter valued at about $26,000. Hudson Bay Capital Management LP bought a new stake in shares of Black Diamond Therapeutics in the 2nd quarter valued at about $26,000. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Black Diamond Therapeutics in the 2nd quarter valued at about $28,000. Finally, American Century Companies Inc. bought a new stake in shares of Black Diamond Therapeutics in the 2nd quarter valued at about $30,000. Institutional investors own 95.47% of the company's stock.

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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