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

Black Diamond Therapeutics (NASDAQ:BDTX - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a report released on Saturday.

A number of other equities analysts have also commented on the stock. Jefferies Financial Group upgraded shares of Black Diamond Therapeutics to a "strong-buy" rating in a report on Thursday, April 23rd. Weiss Ratings upgraded shares of Black Diamond Therapeutics from a "sell (d)" rating to a "sell (d+)" rating in a report on Tuesday, April 21st. Piper Sandler cut their price target on shares of Black Diamond Therapeutics from $9.00 to $8.00 and set an "overweight" rating on the stock in a report on Friday, January 16th. Wedbush lifted their target price on Black Diamond Therapeutics from $13.00 to $14.00 and gave the stock an "outperform" rating in a report on Tuesday, March 17th. Finally, HC Wainwright reaffirmed a "buy" rating on shares of Black Diamond Therapeutics in a report on Wednesday, April 29th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, Black Diamond Therapeutics currently has an average rating of "Moderate Buy" and a consensus target price of $10.00.

Black Diamond Therapeutics Stock Up 9.9%

Shares of BDTX stock opened at $2.99 on Friday. The firm has a market capitalization of $171.33 million, a P/E ratio of -3.88 and a beta of 3.34. Black Diamond Therapeutics has a twelve month low of $1.61 and a twelve month high of $4.94. The stock's fifty day simple moving average is $2.49 and its 200 day simple moving average is $2.84.

Black Diamond Therapeutics (NASDAQ:BDTX - Get Free Report) last issued its quarterly earnings data on Monday, May 11th. The company reported ($0.16) earnings per share for the quarter, topping analysts' consensus estimates of ($0.18) by $0.02. As a group, equities research analysts expect that Black Diamond Therapeutics will post -0.6 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Brookstone Capital Management acquired a new position in Black Diamond Therapeutics during the 1st quarter worth about $30,000. WINTON GROUP Ltd acquired a new position in Black Diamond Therapeutics during the 4th quarter worth about $1,024,000. RB Capital Management LLC acquired a new position in Black Diamond Therapeutics during the 4th quarter worth about $85,000. Round Rock Advisors LLC bought a new position in shares of Black Diamond Therapeutics in the 4th quarter worth about $193,000. Finally, HCR Wealth Advisors bought a new position in shares of Black Diamond Therapeutics in the 4th quarter worth about $66,000. 95.47% of the stock is owned by institutional investors and hedge funds.

Black Diamond Therapeutics Company Profile

Black Diamond Therapeutics, Inc is a precision oncology company focused on the discovery and development of small-molecule therapies that selectively target oncogenic proteins bearing tumor-driving mutations. Leveraging its proprietary Genetic Defined Allosteric (GDA) therapeutic platform, the company aims to identify unique allosteric binding sites in mutant proteins and engineer highly selective inhibitors. Headquartered in Cambridge, Massachusetts, Black Diamond applies structure-based drug design and molecular modeling to advance personalized cancer treatments.

The company's development pipeline includes lead candidate BDTX-189, an allosteric inhibitor of mutant HER2, as well as programs directed at clinically relevant EGFR and KRAS mutations.

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