Black Diamond Therapeutics (NASDAQ:BDTX) Upgraded by Wall Street Zen to "Buy" Rating

Wall Street Zen upgraded shares of Black Diamond Therapeutics (NASDAQ:BDTX - Free Report) from a hold rating to a buy rating in a report published on Thursday morning.

A number of other analysts have also recently commented on the company. Wedbush reaffirmed an "outperform" rating and set a $11.00 price target on shares of Black Diamond Therapeutics in a research report on Wednesday, March 19th. HC Wainwright raised their price objective on Black Diamond Therapeutics from $11.00 to $12.00 and gave the stock a "buy" rating in a research note on Tuesday, March 18th. Finally, Stifel Nicolaus dropped their target price on Black Diamond Therapeutics from $16.00 to $15.00 and set a "buy" rating on the stock in a research report on Friday, March 7th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $14.60.

Black Diamond Therapeutics Stock Up 2.3%

Shares of BDTX traded up $0.05 during mid-day trading on Thursday, hitting $2.06. 527,469 shares of the company traded hands, compared to its average volume of 2,492,864. The company has a market capitalization of $116.91 million, a PE ratio of -1.55 and a beta of 2.63. The business has a 50 day moving average of $1.64 and a 200 day moving average of $2.07. Black Diamond Therapeutics has a 1-year low of $1.20 and a 1-year high of $6.75.

Black Diamond Therapeutics (NASDAQ:BDTX - Get Free Report) last posted its quarterly earnings data on Thursday, March 6th. The company reported ($0.28) EPS for the quarter, topping the consensus estimate of ($0.31) by $0.03. As a group, research analysts expect that Black Diamond Therapeutics will post -1.3 EPS for the current fiscal year.

Insider Buying and Selling at Black Diamond Therapeutics

In other news, major shareholder Growth N. V. Biotech sold 5,784,292 shares of the business's stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $2.07, for a total value of $11,973,484.44. Following the completion of the transaction, the insider now owns 2,733,547 shares of the company's stock, valued at $5,658,442.29. The trade was a 67.91% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 8.87% of the company's stock.

Institutional Trading of Black Diamond Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Vestal Point Capital LP lifted its holdings in Black Diamond Therapeutics by 11.4% in the fourth quarter. Vestal Point Capital LP now owns 5,600,000 shares of the company's stock valued at $11,984,000 after acquiring an additional 571,500 shares during the period. Tang Capital Management LLC increased its holdings 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 purchasing an additional 700,000 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Black Diamond Therapeutics by 1.5% in the 4th quarter. Geode Capital Management LLC now owns 959,316 shares of the company's stock valued at $2,053,000 after purchasing an additional 14,439 shares during the period. Renaissance Technologies LLC lifted its stake in shares of Black Diamond Therapeutics by 256.2% in the 4th quarter. Renaissance Technologies LLC now owns 904,000 shares of the company's stock valued at $1,935,000 after purchasing an additional 650,200 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in Black Diamond Therapeutics by 158.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 661,436 shares of the company's stock worth $1,416,000 after buying an additional 405,579 shares in the last quarter. 95.47% of the stock is owned by institutional investors and hedge funds.

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.