Stifel Nicolaus Lowers Black Diamond Therapeutics (NASDAQ:BDTX) Price Target to $15.00

Black Diamond Therapeutics (NASDAQ:BDTX) had its price target cut by Stifel Nicolaus from $16.00 to $15.00 in a research report sent to investors on Friday morning,Benzinga reports. They currently have a buy rating on the stock.

Separately, Wedbush reiterated an “outperform” rating and set a $11.00 price objective (down from $16.00) on shares of Black Diamond Therapeutics in a research report on Friday. Five analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and an average price target of $14.40.

Black Diamond Therapeutics Price Performance

BDTX stock opened at $1.88 on Friday. The company has a 50 day simple moving average of $2.23 and a 200 day simple moving average of $3.20. The stock has a market cap of $106.38 million, a price-to-earnings ratio of -1.41 and a beta of 2.52. Black Diamond Therapeutics has a 1 year low of $1.77 and a 1 year high of $7.66.

Black Diamond Therapeutics (NASDAQ:BDTX) last released its quarterly earnings data on Thursday, March 6th. The company reported ($0.28) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.03. On average, equities research analysts anticipate that Black Diamond Therapeutics will post -1.3 EPS for the current fiscal year.

Hedge Funds Weigh In On Black Diamond Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in BDTX. Vestal Point Capital LP increased its position in Black Diamond Therapeutics by 139.5% in the 3rd quarter. Vestal Point Capital LP now owns 5,028,500 shares of the company’s stock valued at $21,874,000 after acquiring an additional 2,928,500 shares during the period. Tang Capital Management LLC increased its position in Black Diamond Therapeutics by 51.1% in the 4th quarter. Tang Capital Management LLC now owns 2,070,209 shares of the company’s stock valued at $4,430,000 after acquiring an additional 700,000 shares during the period. Point72 Asset Management L.P. acquired a new position in Black Diamond Therapeutics in the 3rd quarter valued at approximately $3,032,000. Renaissance Technologies LLC increased its position in Black Diamond Therapeutics by 256.2% in the 4th quarter. Renaissance Technologies LLC now owns 904,000 shares of the company’s stock valued at $1,935,000 after acquiring an additional 650,200 shares during the period. Finally, Affinity Asset Advisors LLC acquired a new position in Black Diamond Therapeutics in the 4th quarter valued at approximately $1,197,000. 95.47% of the stock is currently 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.