Black Diamond Therapeutics (NASDAQ:BDTX) Now Covered by Analysts at Raymond James Financial

Analysts at Raymond James Financial started coverage on shares of Black Diamond Therapeutics (NASDAQ:BDTX - Get Free Report) in a report issued on Tuesday, MarketBeat Ratings reports. The brokerage set an "outperform" rating and a $11.00 price target on the stock. Raymond James Financial's price target suggests a potential upside of 343.55% from the company's previous close.

Several other research analysts have also issued reports on BDTX. 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. HC Wainwright increased their target price on Black Diamond Therapeutics from $11.00 to $12.00 and gave the stock a "buy" rating in a report on Tuesday, March 18th. Wedbush restated an "outperform" rating and set a $11.00 target price on shares of Black Diamond Therapeutics in a research report on Wednesday, March 19th. Finally, Wall Street Zen upgraded Black Diamond Therapeutics from a "hold" rating to a "buy" rating in a research report on Saturday, June 14th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, Black Diamond Therapeutics presently has a consensus rating of "Buy" and a consensus price target of $12.80.

Black Diamond Therapeutics Price Performance

Shares of NASDAQ:BDTX remained flat at $2.48 during trading on Tuesday. The stock had a trading volume of 1,275,109 shares, compared to its average volume of 1,546,085. The stock has a market capitalization of $141.01 million, a P/E ratio of 41.33 and a beta of 2.71. Black Diamond Therapeutics has a one year low of $1.20 and a one year high of $6.75. The company has a fifty day moving average price of $2.08 and a two-hundred day moving average price of $2.03.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the company. Bank of New York Mellon Corp increased its holdings in Black Diamond Therapeutics by 46.1% during the 4th quarter. Bank of New York Mellon Corp now owns 207,074 shares of the company's stock valued at $443,000 after purchasing an additional 65,341 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of Black Diamond Therapeutics by 7.9% during the fourth quarter. Wellington Management Group LLP now owns 221,236 shares of the company's stock worth $473,000 after purchasing an additional 16,279 shares during the last quarter. Barclays PLC increased its stake in shares of Black Diamond Therapeutics by 10.7% in the fourth quarter. Barclays PLC now owns 86,545 shares of the company's stock valued at $186,000 after buying an additional 8,394 shares in the last quarter. D. E. Shaw & Co. Inc. bought a new position in shares of Black Diamond Therapeutics in the fourth quarter valued at about $37,000. Finally, Sei Investments Co. bought a new position 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.

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.