Black Diamond Therapeutics, Inc. (NASDAQ:BDTX) Receives Average Recommendation of "Buy" from Brokerages

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

A number of equities analysts have weighed in on the stock. Stifel Nicolaus dropped their price target on shares of Black Diamond Therapeutics from $16.00 to $15.00 and set a "buy" rating for the company in a research report on Friday, March 7th. Wall Street Zen upgraded shares of Black Diamond Therapeutics from a "hold" rating to a "buy" rating in a research note on Thursday. HC Wainwright increased their price target on Black Diamond Therapeutics from $11.00 to $12.00 and gave the stock a "buy" rating in a research note on Tuesday, March 18th. Finally, Wedbush reissued an "outperform" rating and set a $11.00 price target on shares of Black Diamond Therapeutics in a report on Wednesday, March 19th.

Insider Buying and Selling

In related news, major shareholder Growth N. V. Biotech sold 5,784,292 shares of the stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $2.07, for a total value of $11,973,484.44. Following the completion of the transaction, the insider now owns 2,733,547 shares of the company's stock, valued at approximately $5,658,442.29. This trade represents a 67.91% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 8.87% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Black Diamond Therapeutics

Large investors have recently added to or reduced their stakes in the stock. Wells Fargo & Company MN boosted its holdings in shares of Black Diamond Therapeutics by 41.8% in the 4th quarter. Wells Fargo & Company MN now owns 20,119 shares of the company's stock worth $43,000 after purchasing an additional 5,932 shares during the period. Intech Investment Management LLC lifted its position in Black Diamond Therapeutics by 49.1% in the fourth quarter. Intech Investment Management LLC now owns 19,247 shares of the company's stock worth $41,000 after buying an additional 6,340 shares during the last quarter. Rhumbline Advisers boosted its stake in Black Diamond Therapeutics by 14.9% during the fourth quarter. Rhumbline Advisers now owns 56,135 shares of the company's stock worth $120,000 after buying an additional 7,290 shares during the period. Barclays PLC increased its position in Black Diamond Therapeutics by 10.7% during the fourth quarter. Barclays PLC now owns 86,545 shares of the company's stock valued at $186,000 after acquiring an additional 8,394 shares during the last quarter. Finally, Hsbc Holdings PLC grew its holdings in Black Diamond Therapeutics by 99.0% during the 4th quarter. Hsbc Holdings PLC now owns 27,159 shares of the company's stock valued at $59,000 after purchasing an additional 13,511 shares during the last quarter. 95.47% of the stock is owned by institutional investors.

Black Diamond Therapeutics Stock Up 1.2%

Black Diamond Therapeutics stock traded up $0.02 during trading hours on Thursday, hitting $2.05. The stock had a trading volume of 250,789 shares, compared to its average volume of 1,493,484. The stock has a market capitalization of $116.80 million, a P/E ratio of -1.54 and a beta of 2.63. Black Diamond Therapeutics has a 12-month low of $1.20 and a 12-month high of $6.75. The stock's 50-day moving average price is $1.62 and its 200-day moving average price is $2.11.

Black Diamond Therapeutics (NASDAQ:BDTX - Get Free Report) last issued its earnings results on Thursday, March 6th. The company reported ($0.28) earnings per share for the quarter, topping analysts' consensus estimates of ($0.31) by $0.03. On average, research analysts expect that Black Diamond Therapeutics will post -1.3 EPS for the current fiscal year.

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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