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

Shares of Black Diamond Therapeutics, Inc. (NASDAQ:BDTX - Get Free Report) have earned an average recommendation of "Buy" from the five analysts that are currently covering the company, MarketBeat reports. Five analysts have rated the stock with a buy rating. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $12.80.

BDTX has been the topic of a number of recent research reports. Wall Street Zen raised Black Diamond Therapeutics from a "hold" rating to a "buy" rating in a research report on Saturday, June 14th. HC Wainwright upped their price target on Black Diamond Therapeutics from $11.00 to $12.00 and gave the stock a "buy" rating in a report on Tuesday, March 18th. Raymond James Financial raised Black Diamond Therapeutics to an "outperform" rating and set a $11.00 price target on the stock in a research report on Tuesday, July 1st. Finally, Wedbush restated an "outperform" rating and set a $11.00 target price on shares of Black Diamond Therapeutics in a research note on Wednesday, March 19th.

Hedge Funds Weigh In On Black Diamond Therapeutics

Several large investors have recently bought and sold shares of BDTX. Bank of New York Mellon Corp boosted its stake in Black Diamond Therapeutics by 46.1% in the fourth quarter. Bank of New York Mellon Corp now owns 207,074 shares of the company's stock valued at $443,000 after acquiring an additional 65,341 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Black Diamond Therapeutics in the fourth quarter valued at $53,000. Intech Investment Management LLC boosted its stake 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 valued at $41,000 after acquiring an additional 6,340 shares in the last quarter. Sei Investments Co. acquired a new position in Black Diamond Therapeutics in the fourth quarter valued at $49,000. Finally, JPMorgan Chase & Co. boosted its stake in Black Diamond Therapeutics by 429.6% in the fourth 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. Institutional investors and hedge funds own 95.47% of the company's stock.

Black Diamond Therapeutics Stock Up 4.7%

NASDAQ BDTX traded up $0.13 on Friday, reaching $2.87. The stock had a trading volume of 1,009,206 shares, compared to its average volume of 1,553,974. The firm has a market capitalization of $163.19 million, a price-to-earnings ratio of 47.83 and a beta of 2.71. Black Diamond Therapeutics has a 12-month low of $1.20 and a 12-month high of $6.75. The stock has a fifty day moving average price of $2.25 and a two-hundred day moving average price of $2.05.

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.