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

Shares of Black Diamond Therapeutics, Inc. (NASDAQ:BDTX - Get Free Report) have been assigned a consensus recommendation of "Buy" from the five ratings firms that are currently covering the stock, MarketBeat reports. Five investment analysts have rated the stock with a buy rating. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $12.80.

Several equities research analysts have recently commented on BDTX shares. Wall Street Zen upgraded Black Diamond Therapeutics from a "hold" rating to a "buy" rating in a report on Saturday, June 14th. HC Wainwright boosted their price objective on Black Diamond Therapeutics from $11.00 to $12.00 and gave the company a "buy" rating in a report on Tuesday, March 18th. Raymond James Financial upgraded Black Diamond Therapeutics to an "outperform" rating and set a $11.00 price objective for the company in a report on Tuesday, July 1st. 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.

Institutional Investors Weigh In On Black Diamond Therapeutics

Several large investors have recently modified their holdings of the stock. Vestal Point Capital LP grew its holdings 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 valued at $11,984,000 after purchasing an additional 571,500 shares during the period. Tang Capital Management LLC lifted its position 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 valued at $4,430,000 after buying an additional 700,000 shares during the last quarter. Geode Capital Management LLC increased its holdings in Black Diamond Therapeutics by 1.5% in the 4th quarter. Geode Capital Management LLC now owns 959,316 shares of the company's stock worth $2,053,000 after acquiring an additional 14,439 shares during the last quarter. Renaissance Technologies LLC increased its holdings in Black Diamond Therapeutics by 256.2% in the 4th quarter. Renaissance Technologies LLC now owns 904,000 shares of the company's stock worth $1,935,000 after acquiring an additional 650,200 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in Black Diamond Therapeutics by 158.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 661,436 shares of the company's stock worth $1,416,000 after acquiring an additional 405,579 shares during the last quarter. Hedge funds and other institutional investors own 95.47% of the company's stock.

Black Diamond Therapeutics Trading Up 2.4%

BDTX stock traded up $0.07 during mid-day trading on Friday, reaching $2.94. The company's stock had a trading volume of 1,240,006 shares, compared to its average volume of 1,560,588. The company has a market cap of $167.17 million, a price-to-earnings ratio of 49.00 and a beta of 2.71. The business's 50 day moving average price is $2.25 and its 200 day moving average price is $2.04. Black Diamond Therapeutics has a 12 month low of $1.20 and a 12 month high of $6.75.

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.