Black Diamond Therapeutics (NASDAQ:BDTX) PT Raised to $16.00 at Wedbush

Black Diamond Therapeutics (NASDAQ:BDTX - Get Free Report) had its target price upped by equities researchers at Wedbush from $10.00 to $16.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm presently has an "outperform" rating on the stock. Wedbush's price target points to a potential upside of 199.07% from the company's previous close.

Separately, HC Wainwright reaffirmed a "buy" rating and issued a $12.00 price objective (up previously from $11.00) on shares of Black Diamond Therapeutics in a research report on Monday, March 18th.

Black Diamond Therapeutics Price Performance

Shares of NASDAQ:BDTX traded up $0.29 during trading hours on Monday, hitting $5.35. The company's stock had a trading volume of 450,531 shares, compared to its average volume of 581,337. The firm's fifty day moving average price is $4.65 and its 200 day moving average price is $3.26. Black Diamond Therapeutics has a 52 week low of $1.43 and a 52 week high of $6.85. The company has a market capitalization of $276.70 million, a price-to-earnings ratio of -2.85 and a beta of 2.64.

Black Diamond Therapeutics (NASDAQ:BDTX - Get Free Report) last issued its quarterly earnings data on Tuesday, March 12th. The company reported ($0.34) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.47) by $0.13. On average, equities research analysts predict that Black Diamond Therapeutics will post -1.76 earnings per share for the current fiscal year.

Institutional Trading of Black Diamond Therapeutics

Several large investors have recently bought and sold shares of the stock. Renaissance Technologies LLC grew its position in Black Diamond Therapeutics by 1.5% during the 2nd quarter. Renaissance Technologies LLC now owns 220,700 shares of the company's stock worth $1,115,000 after purchasing an additional 3,200 shares during the last quarter. Cubist Systematic Strategies LLC lifted its stake in Black Diamond Therapeutics by 25.8% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 15,804 shares of the company's stock valued at $39,000 after acquiring an additional 3,244 shares during the period. AQR Capital Management LLC lifted its stake in Black Diamond Therapeutics by 34.4% during the 2nd quarter. AQR Capital Management LLC now owns 18,663 shares of the company's stock valued at $46,000 after acquiring an additional 4,773 shares during the period. Newtyn Management LLC lifted its stake in Black Diamond Therapeutics by 2.5% during the 3rd quarter. Newtyn Management LLC now owns 205,000 shares of the company's stock valued at $588,000 after acquiring an additional 5,000 shares during the period. Finally, Jump Financial LLC acquired a new stake in Black Diamond Therapeutics during the 3rd quarter valued at approximately $32,000. 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 precision oncology medicine company, focuses on the discovery and development of therapies for patients with genetically defined cancers. The company's lead product candidate, BDTX-1535, a brain-penetrant, mutant selective, irreversible EGFR MasterKey inhibitor, designed to inhibit a family of oncogenic mutations, currently under Phase 1 clinical trial.