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

Shares of Black Diamond Therapeutics, Inc. (NASDAQ:BDTX - Get Free Report) have been assigned an average rating of "Buy" from the five analysts that are covering the firm, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a buy recommendation. The average 1-year price objective among analysts that have covered the stock in the last year is $14.60.

Several equities analysts have commented on the stock. Wall Street Zen upgraded shares of Black Diamond Therapeutics from a "hold" rating to a "buy" rating in a report on Thursday, May 22nd. HC Wainwright upped their price target 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. Stifel Nicolaus lowered their price target on shares of Black Diamond Therapeutics from $16.00 to $15.00 and set a "buy" rating on the stock in a report on Friday, March 7th. Finally, Wedbush restated an "outperform" rating and set a $11.00 price objective on shares of Black Diamond Therapeutics in a report on Wednesday, March 19th.

Black Diamond Therapeutics Stock Performance

NASDAQ:BDTX traded up $0.05 during mid-day trading on Thursday, hitting $2.06. The stock had a trading volume of 527,469 shares, compared to its average volume of 2,492,864. Black Diamond Therapeutics has a twelve month low of $1.20 and a twelve month high of $6.75. The stock has a market cap of $116.91 million, a price-to-earnings ratio of -1.55 and a beta of 2.63. The company's 50 day simple moving average is $1.64 and its 200 day simple moving average is $2.07.

Black Diamond Therapeutics (NASDAQ:BDTX - Get Free Report) last issued its earnings results on Thursday, March 6th. The company reported ($0.28) EPS for the quarter, topping the consensus estimate of ($0.31) by $0.03. As a group, equities analysts forecast that Black Diamond Therapeutics will post -1.3 earnings per share for the current year.

Insider Activity at Black Diamond Therapeutics

In related news, major shareholder Growth N. V. Biotech sold 5,784,292 shares of the stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $2.07, for a total transaction of $11,973,484.44. Following the sale, the insider now owns 2,733,547 shares of the company's stock, valued at $5,658,442.29. This represents a 67.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 8.87% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Black Diamond Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Tang Capital Management LLC grew its holdings in shares of Black Diamond Therapeutics by 51.1% during the 4th quarter. Tang Capital Management LLC now owns 2,070,209 shares of the company's stock worth $4,430,000 after purchasing an additional 700,000 shares in the last quarter. Renaissance Technologies LLC lifted 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 purchasing an additional 650,200 shares during the period. Vestal Point Capital LP grew its stake in Black Diamond Therapeutics by 11.4% during the fourth quarter. Vestal Point Capital LP now owns 5,600,000 shares of the company's stock worth $11,984,000 after buying an additional 571,500 shares in the last quarter. Affinity Asset Advisors LLC bought a new position in Black Diamond Therapeutics in the 4th quarter valued at about $1,197,000. Finally, Boxer Capital Management LLC bought a new position in Black Diamond Therapeutics in the 4th quarter valued at about $1,083,000. 95.47% of the stock is owned by institutional investors and hedge funds.

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.