HC Wainwright Issues Positive Forecast for Black Diamond Therapeutics (NASDAQ:BDTX) Stock Price

Black Diamond Therapeutics (NASDAQ:BDTX) had its price target upped by HC Wainwright from $11.00 to $12.00 in a research note released on Tuesday,Benzinga reports. The firm currently has a buy rating on the stock.

Several other research analysts also recently commented on BDTX. Wedbush restated an “outperform” rating and issued a $11.00 target price (down previously from $16.00) on shares of Black Diamond Therapeutics in a research note on Friday, March 7th. Stifel Nicolaus cut their target price on Black Diamond Therapeutics from $16.00 to $15.00 and set a “buy” rating for the company in a research note on Friday, March 7th. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $14.60.

Black Diamond Therapeutics Stock Performance

BDTX stock opened at $1.68 on Tuesday. The company has a market capitalization of $95.19 million, a price-to-earnings ratio of -1.26 and a beta of 2.52. Black Diamond Therapeutics has a fifty-two week low of $1.59 and a fifty-two week high of $7.66. The stock has a fifty day moving average of $2.17 and a 200-day moving average of $2.93.

Black Diamond Therapeutics (NASDAQ:BDTX) last issued its earnings results on Thursday, March 6th. The company reported ($0.28) EPS for the quarter, topping the consensus estimate of ($0.31) by $0.03. Equities analysts predict that Black Diamond Therapeutics will post -1.3 EPS for the current year.

Institutional Trading of Black Diamond Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of BDTX. Vestal Point Capital LP raised its holdings in shares of 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 in the last quarter. Tang Capital Management LLC raised its holdings in shares of Black Diamond Therapeutics by 51.1% during the 4th quarter. Tang Capital Management LLC now owns 2,070,209 shares of the company’s stock valued at $4,430,000 after buying an additional 700,000 shares in the last quarter. Point72 Asset Management L.P. purchased a new position in shares of Black Diamond Therapeutics during the 3rd quarter valued at about $3,032,000. Renaissance Technologies LLC raised its holdings in shares of Black Diamond Therapeutics by 256.2% during the 4th quarter. Renaissance Technologies LLC now owns 904,000 shares of the company’s stock valued at $1,935,000 after buying an additional 650,200 shares in the last quarter. Finally, Affinity Asset Advisors LLC purchased a new position in shares of Black Diamond Therapeutics during the 4th quarter valued at about $1,197,000. Hedge funds and other institutional investors own 95.47% of the company’s stock.

Black Diamond Therapeutics Company Profile

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.