Black Diamond Therapeutics, Inc. (NASDAQ:BDTX) has been given an average rating of “Buy” by the six ratings firms that are covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $33.80.
A number of equities analysts recently issued reports on BDTX shares. Berenberg Bank restated a “buy” rating and issued a $34.00 target price on shares of Black Diamond Therapeutics in a research note on Tuesday, August 17th. Zacks Investment Research upgraded Black Diamond Therapeutics from a “sell” rating to a “hold” rating in a research note on Tuesday, October 19th. Wedbush cut their price target on Black Diamond Therapeutics from $48.00 to $22.00 and set an “outperform” rating for the company in a research note on Wednesday, August 18th. Finally, Stifel Nicolaus initiated coverage on Black Diamond Therapeutics in a research note on Wednesday, September 29th. They issued a “hold” rating and a $10.00 price target for the company.
Shares of NASDAQ:BDTX traded up $0.11 during trading hours on Thursday, hitting $6.88. The company’s stock had a trading volume of 86,150 shares, compared to its average volume of 460,744. Black Diamond Therapeutics has a 52 week low of $6.57 and a 52 week high of $37.76. The company has a market capitalization of $249.26 million, a price-to-earnings ratio of -2.03 and a beta of 1.44. The firm’s fifty day moving average price is $8.19 and its 200 day moving average price is $10.84.
Several institutional investors have recently modified their holdings of BDTX. Trexquant Investment LP lifted its stake in Black Diamond Therapeutics by 9.2% during the 2nd quarter. Trexquant Investment LP now owns 12,826 shares of the company’s stock worth $156,000 after acquiring an additional 1,078 shares in the last quarter. Cubist Systematic Strategies LLC grew its position in Black Diamond Therapeutics by 7.5% in the 1st quarter. Cubist Systematic Strategies LLC now owns 20,489 shares of the company’s stock valued at $497,000 after acquiring an additional 1,426 shares in the last quarter. Royal Bank of Canada grew its position in Black Diamond Therapeutics by 456.9% in the 1st quarter. Royal Bank of Canada now owns 2,194 shares of the company’s stock valued at $53,000 after acquiring an additional 1,800 shares in the last quarter. Boothbay Fund Management LLC grew its position in Black Diamond Therapeutics by 9.4% in the 2nd quarter. Boothbay Fund Management LLC now owns 21,284 shares of the company’s stock valued at $259,000 after acquiring an additional 1,835 shares in the last quarter. Finally, ProShare Advisors LLC grew its position in Black Diamond Therapeutics by 26.2% in the 2nd quarter. ProShare Advisors LLC now owns 12,406 shares of the company’s stock valued at $151,000 after acquiring an additional 2,577 shares in the last quarter. Institutional investors and hedge funds own 69.90% of the company’s stock.
About Black Diamond Therapeutics
Black Diamond Therapeutics, Inc, a biotechnology company, discover and develops small molecule, tumor-agnostic therapies. Its lead product candidate is BDTX-189, an irreversible small molecule inhibitor that is designed to block the function of family of oncogenic proteins defined by driver mutations across a range of tumor types, and which affect the epidermal growth factor receptor (EGFR), the tyrosine-protein kinase, or human epidermal growth factor receptor 2.
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