Black Diamond Therapeutics (NASDAQ:BDTX) Stock Rating Lowered by Wall Street Zen

Key Points

• Black Diamond Therapeutics has been downgraded from a "buy" to a "hold" rating by Wall Street Zen, impacting investor sentiment.
• Raymond James Financial has upgraded the stock to an "outperform" rating with a price target of $11.00, contrasting with Wall Street Zen's downgrade.
• The company's latest earnings report showed a loss of ($0.19) per share, which was better than analysts' expectations of ($0.25).

Wall Street Zen lowered shares of Black Diamond Therapeutics (NASDAQ:BDTX - Free Report) from a buy rating to a hold rating in a research note issued to investors on Saturday.

Separately, Raymond James Financial raised Black Diamond Therapeutics to an "outperform" rating and set a $11.00 price target for the company in a report on Tuesday, July 1st. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Black Diamond Therapeutics presently has an average rating of "Moderate Buy" and an average target price of $12.40.

Black Diamond Therapeutics Stock Performance

Shares of NASDAQ:BDTX traded up $0.22 on Friday, hitting $2.53. The stock had a trading volume of 1,420,069 shares, compared to its average volume of 2,018,248. Black Diamond Therapeutics has a twelve month low of $1.20 and a twelve month high of $6.75. The firm's 50 day moving average price is $2.64 and its 200-day moving average price is $2.14. The company has a market capitalization of $143.77 million, a price-to-earnings ratio of 10.98 and a beta of 2.87.

Black Diamond Therapeutics (NASDAQ:BDTX - Get Free Report) last issued its earnings results on Thursday, August 7th. The company reported ($0.19) EPS for the quarter, beating the consensus estimate of ($0.25) by $0.06. As a group, sell-side analysts predict that Black Diamond Therapeutics will post -1.3 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. R Squared Ltd bought a new stake in Black Diamond Therapeutics during the 2nd quarter worth about $25,000. Wealth Enhancement Advisory Services LLC bought a new stake in Black Diamond Therapeutics during the 2nd quarter worth about $28,000. American Century Companies Inc. bought a new stake in Black Diamond Therapeutics during the 2nd quarter worth about $30,000. CWM LLC raised its holdings in Black Diamond Therapeutics by 212.2% during the 2nd quarter. CWM LLC now owns 14,338 shares of the company's stock worth $36,000 after purchasing an additional 9,746 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd bought a new stake in Black Diamond Therapeutics during the 2nd quarter worth about $36,000. 95.47% of the stock is owned by institutional investors.

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.