Black Diamond Therapeutics (NASDAQ:BDTX) Stock Price Up 2% - Should You Buy?

Key Points

• BDTX shares rose about 2% intraday to $2.50 (high $2.62) on volume of ~990,814 shares, about 62% above average; the company has a market cap near $143M and 50-/200-day moving averages of $2.29/$2.96.
• Analysts are mixed but leaning positive with a consensus rating of "Moderate Buy" and a consensus price target of $9.83 (five Buys, two Holds, one Sell), amid recent divergent moves like Piper Sandler cutting its target to $8 and Wedbush raising theirs to $14.
• Black Diamond, which uses its GDA platform to develop allosteric inhibitors (lead candidate BDTX‑189 for mutant HER2 and programs for EGFR/KRAS), beat quarterly EPS estimates (loss of $0.14 vs. -$0.18) while analysts forecast a full‑year EPS of about -1.3.

Black Diamond Therapeutics, Inc. (NASDAQ:BDTX - Get Free Report)'s stock price rose 2% during mid-day trading on Wednesday . The stock traded as high as $2.62 and last traded at $2.50. Approximately 990,814 shares were traded during trading, an increase of 62% from the average daily volume of 613,096 shares. The stock had previously closed at $2.45.

Analyst Upgrades and Downgrades

BDTX has been the subject of several research analyst reports. Piper Sandler lowered their price target on shares of Black Diamond Therapeutics from $9.00 to $8.00 and set an "overweight" rating for the company in a report on Friday, January 16th. Weiss Ratings reiterated a "sell (d+)" rating on shares of Black Diamond Therapeutics in a report on Monday, December 29th. Wedbush upped their price target on shares of Black Diamond Therapeutics from $13.00 to $14.00 and gave the stock an "outperform" rating in a report on Tuesday, March 17th. Finally, Zacks Research downgraded shares of Black Diamond Therapeutics from a "strong-buy" rating to a "hold" rating in a report on Friday, February 6th. Five investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $9.83.

Black Diamond Therapeutics Price Performance

The company has a market capitalization of $143.23 million, a price-to-earnings ratio of 6.76 and a beta of 3.38. The firm's fifty day moving average price is $2.29 and its 200-day moving average price is $2.96.

Black Diamond Therapeutics (NASDAQ:BDTX - Get Free Report) last posted its quarterly earnings data on Monday, March 16th. The company reported ($0.14) earnings per share for the quarter, beating analysts' consensus estimates of ($0.18) by $0.04. On average, research analysts predict that Black Diamond Therapeutics, Inc. will post -1.3 earnings per share for the current year.

Institutional Trading of Black Diamond Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of BDTX. Invesco Ltd. increased its holdings in Black Diamond Therapeutics by 152.5% in the first quarter. Invesco Ltd. now owns 45,989 shares of the company's stock valued at $71,000 after purchasing an additional 27,777 shares during the period. AQR Capital Management LLC acquired a new stake in Black Diamond Therapeutics in the first quarter valued at $84,000. American Century Companies Inc. acquired a new stake in Black Diamond Therapeutics in the second quarter valued at $30,000. Prudential Financial Inc. acquired a new stake in Black Diamond Therapeutics in the second quarter valued at $32,000. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in Black Diamond Therapeutics in the second quarter valued at $343,000. 95.47% of the stock is currently owned by institutional investors and hedge funds.

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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