Black Diamond Therapeutics, Inc. (NASDAQ:BDTX) Stock Has Consensus Target Price of $11.00

Key Points

• Analyst sentiment is moderately positive: Seven of 10 analysts rate Black Diamond Therapeutics a buy, while two recommend holding and one recommends selling. The consensus 12-month price target is $11.00, compared with shares opening at $1.83.
• Institutional ownership is substantial: Hedge funds and institutional investors own approximately 95.47% of BDTX, with BlackRock, Renaissance Technologies, and Dimensional Fund Advisors among notable holders.
• The stock remains highly speculative: BDTX has a market capitalization of about $105 million, a negative P/E ratio of -2.44, and trades near its 52-week low of $1.60. The company reported a quarterly loss of $0.17 per share, narrower than the expected $0.20 loss.

Shares of Black Diamond Therapeutics, Inc. (NASDAQ:BDTX - Get Free Report) have been assigned an average rating of "Moderate Buy" from the ten analysts that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating on the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $11.00.

A number of research firms recently commented on BDTX. Raymond James Financial restated an "outperform" rating on shares of Black Diamond Therapeutics in a research report on Thursday, August 6th. Jefferies Financial Group reiterated a "buy" rating on shares of Black Diamond Therapeutics in a report on Thursday, August 6th. TD Cowen reissued a "buy" rating on shares of Black Diamond Therapeutics in a research note on Thursday, August 6th. Wall Street Zen upgraded Black Diamond Therapeutics from a "sell" rating to a "hold" rating in a report on Saturday, October 24th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Black Diamond Therapeutics in a research report on Friday, October 9th.

Hedge Funds Weigh In On Black Diamond Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. acquired a new stake in Black Diamond Therapeutics during the 2nd quarter worth approximately $7,247,000. Renaissance Technologies LLC lifted its stake in Black Diamond Therapeutics by 73.1% in the first quarter. Renaissance Technologies LLC now owns 1,643,747 shares of the company's stock valued at $3,501,000 after buying an additional 694,012 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Black Diamond Therapeutics by 51.9% in the first quarter. Dimensional Fund Advisors LP now owns 1,301,664 shares of the company's stock valued at $2,772,000 after buying an additional 444,649 shares during the period. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Black Diamond Therapeutics in the second quarter valued at approximately $2,022,000. Finally, AWM Investment Company Inc. acquired a new position in shares of Black Diamond Therapeutics in the second quarter valued at approximately $1,850,000. 95.47% of the stock is currently owned by institutional investors and hedge funds.

Black Diamond Therapeutics Stock Performance

Shares of NASDAQ BDTX opened at $1.83 on Thursday. Black Diamond Therapeutics has a 52-week low of $1.60 and a 52-week high of $4.94. The stock has a market cap of $105.13 million, a P/E ratio of -2.44 and a beta of 3.32. The firm has a 50 day moving average price of $1.96 and a 200 day moving average price of $2.20.

Black Diamond Therapeutics (NASDAQ:BDTX - Get Free Report) last posted its earnings results on Wednesday, August 5th. The company reported ($0.17) earnings per share for the quarter, topping the consensus estimate of ($0.20) by $0.03. Analysts predict that Black Diamond Therapeutics will post -0.57 earnings per share for the current fiscal year.

About Black Diamond Therapeutics

Black Diamond Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing precision medicines for genetically defined cancers. The company uses its proprietary MasterKey platform to identify and develop small-molecule therapies designed to address oncogenic mutations across multiple tumor types, including alterations that may be difficult to target with conventional approaches.

Black Diamond's pipeline has included brain-penetrant therapies for cancers affecting the central nervous system.

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