Black Diamond Therapeutics (NASDAQ:BDTX) Posts Earnings Results

Key Points

• Black Diamond Therapeutics beat earnings expectations, reporting a quarterly loss of $0.17 per share versus the consensus estimate of a $0.18 loss.
• BDTX shares traded at $1.79, near the lower end of their 52-week range, while institutional investors held a significant 95.47% of outstanding shares.
• Analyst sentiment remains mixed but leans positive, with a “Moderate Buy” consensus and an average price target of $9.83 compared with the current share price.

Black Diamond Therapeutics (NASDAQ:BDTX - Get Free Report) issued its quarterly earnings results on Wednesday. The company reported ($0.17) earnings per share for the quarter, beating the consensus estimate of ($0.18) by $0.01, FiscalAI reports.

Black Diamond Therapeutics Price Performance

Shares of BDTX traded up $0.01 during trading hours on Wednesday, hitting $1.79. The stock had a trading volume of 384,210 shares, compared to its average volume of 1,157,156. Black Diamond Therapeutics has a 1-year low of $1.60 and a 1-year high of $4.94. The firm has a market capitalization of $102.57 million, a P/E ratio of -2.32 and a beta of 3.28. The firm has a 50 day simple moving average of $1.86 and a 200-day simple moving average of $2.28.

Institutional Trading of Black Diamond Therapeutics

Several hedge funds have recently bought and sold shares of BDTX. Vanguard Group Inc. raised its holdings in Black Diamond Therapeutics by 4.1% during the third quarter. Vanguard Group Inc. now owns 2,188,857 shares of the company's stock worth $8,296,000 after buying an additional 85,825 shares during the last quarter. Renaissance Technologies LLC increased its position in shares of Black Diamond Therapeutics by 58.4% during the fourth quarter. Renaissance Technologies LLC now owns 949,735 shares of the company's stock worth $2,308,000 after acquiring an additional 350,335 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in shares of Black Diamond Therapeutics by 549.2% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 896,853 shares of the company's stock worth $3,399,000 after acquiring an additional 758,709 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Black Diamond Therapeutics by 88.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 857,015 shares of the company's stock worth $2,083,000 after acquiring an additional 401,145 shares during the last quarter. Finally, Marshall Wace LLP bought a new position in Black Diamond Therapeutics in the 2nd quarter valued at about $1,830,000. Institutional investors and hedge funds own 95.47% of the company's stock.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Weiss Ratings downgraded shares of Black Diamond Therapeutics from a "sell (d)" rating to a "sell (d-)" rating in a research report on Monday, July 13th. Raymond James Financial reiterated an "outperform" rating on shares of Black Diamond Therapeutics in a research report on Friday, May 22nd. Jefferies Financial Group raised shares of Black Diamond Therapeutics to a "strong-buy" rating in a research report on Thursday, April 23rd. Wall Street Zen downgraded Black Diamond Therapeutics from a "hold" rating to a "sell" rating in a report on Saturday, May 9th. Finally, TD Cowen restated a "buy" rating on shares of Black Diamond Therapeutics in a research report on Friday, May 22nd. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $9.83.

About Black Diamond Therapeutics

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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