Wedbush Reaffirms “Outperform” Rating for Black Diamond Therapeutics (NASDAQ:BDTX)

Wedbush reissued their outperform rating on shares of Black Diamond Therapeutics (NASDAQ:BDTX) in a research report report published on Tuesday morning, Benzinga reports. The brokerage currently has a $16.00 target price on the stock.

A number of other analysts have also recently weighed in on BDTX. HC Wainwright reaffirmed a buy rating and set a $11.00 price objective on shares of Black Diamond Therapeutics in a research report on Wednesday, September 4th. Piper Sandler reaffirmed an overweight rating and set a $12.00 price objective on shares of Black Diamond Therapeutics in a research report on Wednesday, July 3rd. Finally, Raymond James initiated coverage on Black Diamond Therapeutics in a research report on Wednesday, July 31st. They set an outperform rating and a $20.00 price objective for the company.

Black Diamond Therapeutics Stock Up 5.8 %

Shares of NASDAQ BDTX opened at $6.19 on Tuesday. The stock has a market cap of $348.21 million, a PE ratio of -3.73 and a beta of 2.49. Black Diamond Therapeutics has a 52-week low of $1.62 and a 52-week high of $7.66. The business has a 50-day moving average price of $5.68 and a 200 day moving average price of $5.33.

Black Diamond Therapeutics (NASDAQ:BDTX) last announced its earnings results on Tuesday, August 6th. The company reported ($0.36) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.39) by $0.03. Sell-side analysts anticipate that Black Diamond Therapeutics will post -1.4 earnings per share for the current year.

Institutional Trading of Black Diamond Therapeutics

Several hedge funds have recently modified their holdings of BDTX. Ally Bridge Group NY LLC acquired a new stake in shares of Black Diamond Therapeutics in the 2nd quarter valued at approximately $3,891,000. Affinity Asset Advisors LLC acquired a new stake in shares of Black Diamond Therapeutics in the 2nd quarter valued at approximately $3,029,000. Bellevue Group AG lifted its holdings in shares of Black Diamond Therapeutics by 4.9% in the 4th quarter. Bellevue Group AG now owns 8,535,839 shares of the company’s stock valued at $23,986,000 after buying an additional 400,000 shares during the period. TD Asset Management Inc lifted its holdings in shares of Black Diamond Therapeutics by 275.9% in the 2nd quarter. TD Asset Management Inc now owns 266,312 shares of the company’s stock valued at $1,241,000 after buying an additional 195,464 shares during the period. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Black Diamond Therapeutics in the 2nd quarter valued at approximately $508,000. 95.47% of the stock is owned by institutional investors and hedge funds.

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.