Black Diamond Therapeutics (NASDAQ:BDTX) Raised to Buy at Wall Street Zen

Black Diamond Therapeutics (NASDAQ:BDTX - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research note issued on Saturday.

A number of other equities research analysts also recently weighed in on BDTX. Stifel Nicolaus lowered their price target 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. Wedbush restated an "outperform" rating and issued a $11.00 price target on shares of Black Diamond Therapeutics in a research note on Wednesday, March 19th. Finally, HC Wainwright increased their price objective on Black Diamond Therapeutics from $11.00 to $12.00 and gave the company a "buy" rating in a research report on Tuesday, March 18th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of $14.60.

Black Diamond Therapeutics Stock Performance

NASDAQ BDTX traded down $0.07 during trading on Friday, hitting $2.32. 777,336 shares of the company's stock traded hands, compared to its average volume of 1,534,594. The stock has a market capitalization of $131.92 million, a price-to-earnings ratio of 38.67 and a beta of 2.71. Black Diamond Therapeutics has a 12-month low of $1.20 and a 12-month high of $6.75. The business has a 50 day moving average of $1.90 and a 200-day moving average of $2.03.

Insiders Place Their Bets

In related news, major shareholder Growth N. V. Biotech sold 5,784,292 shares of the business's stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $2.07, for a total transaction of $11,973,484.44. Following the transaction, the insider now directly owns 2,733,547 shares in the company, 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 Securities & Exchange Commission, which is available through this link. 5.97% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Black Diamond Therapeutics

A number of large investors have recently bought and sold shares of BDTX. D. E. Shaw & Co. Inc. purchased a new stake in shares of Black Diamond Therapeutics during the 4th quarter worth about $37,000. JPMorgan Chase & Co. raised its holdings in shares of Black Diamond Therapeutics by 429.6% during the 4th quarter. JPMorgan Chase & Co. now owns 18,929 shares of the company's stock worth $41,000 after acquiring an additional 15,355 shares during the period. Intech Investment Management LLC raised its stake in Black Diamond Therapeutics by 49.1% during the fourth quarter. Intech Investment Management LLC now owns 19,247 shares of the company's stock worth $41,000 after purchasing an additional 6,340 shares during the period. SG Americas Securities LLC purchased a new stake in shares of Black Diamond Therapeutics during the 4th quarter valued at approximately $42,000. Finally, Wells Fargo & Company MN raised its position in Black Diamond Therapeutics by 41.8% in the fourth quarter. Wells Fargo & Company MN now owns 20,119 shares of the company's stock valued at $43,000 after purchasing an additional 5,932 shares during the period. Hedge funds and other institutional investors own 95.47% of the company's stock.

About Black Diamond Therapeutics

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.