Black Diamond Therapeutics, Inc. (NASDAQ:BDTX) Receives Consensus Rating of "Buy" from Analysts

Shares of Black Diamond Therapeutics, Inc. (NASDAQ:BDTX - Get Free Report) have been assigned an average rating of "Buy" from the five research firms that are presently covering the stock, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a buy recommendation. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $14.60.

BDTX has been the topic of a number of recent analyst reports. Wall Street Zen upgraded Black Diamond Therapeutics from a "hold" rating to a "buy" rating in a research report on Saturday. HC Wainwright raised their target price on shares of Black Diamond Therapeutics from $11.00 to $12.00 and gave the company a "buy" rating in a research report on Tuesday, March 18th. Wedbush reiterated an "outperform" rating and set a $11.00 price target on shares of Black Diamond Therapeutics in a report on Wednesday, March 19th. Finally, Stifel Nicolaus dropped their price target on Black Diamond Therapeutics from $16.00 to $15.00 and set a "buy" rating for the company in a research note on Friday, March 7th.

Insider Activity

In other Black Diamond Therapeutics news, major shareholder Growth N. V. Biotech sold 5,784,292 shares of the company's stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $2.07, for a total value of $11,973,484.44. Following the sale, the insider now owns 2,733,547 shares in the company, valued at approximately $5,658,442.29. The trade was a 67.91% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 5.97% of the company's stock.

Institutional Investors Weigh In On Black Diamond Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in BDTX. D. E. Shaw & Co. Inc. acquired a new position in Black Diamond Therapeutics during the 4th quarter worth approximately $37,000. Intech Investment Management LLC raised its position in Black Diamond Therapeutics by 49.1% in the 4th quarter. Intech Investment Management LLC now owns 19,247 shares of the company's stock valued at $41,000 after buying an additional 6,340 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Black Diamond Therapeutics by 429.6% during the 4th quarter. JPMorgan Chase & Co. now owns 18,929 shares of the company's stock valued at $41,000 after acquiring an additional 15,355 shares in the last quarter. Wells Fargo & Company MN boosted its holdings in Black Diamond Therapeutics by 41.8% during the 4th quarter. Wells Fargo & Company MN now owns 20,119 shares of the company's stock worth $43,000 after acquiring an additional 5,932 shares during the last quarter. Finally, Sei Investments Co. purchased a new stake in shares of Black Diamond Therapeutics in the fourth quarter valued at about $49,000. Institutional investors own 95.47% of the company's stock.

Black Diamond Therapeutics Trading Down 2.9%

BDTX stock traded down $0.07 during trading hours on Monday, hitting $2.32. 777,336 shares of the stock were exchanged, compared to its average volume of 1,530,146. Black Diamond Therapeutics has a 12 month low of $1.20 and a 12 month high of $6.75. The firm has a market capitalization of $131.92 million, a P/E ratio of 39.83 and a beta of 2.71. The company has a 50-day simple moving average of $1.88 and a two-hundred day simple moving average of $2.03.

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.