Black Diamond Therapeutics (NASDAQ:BDTX) Earns “Outperform” Rating from Wedbush

Black Diamond Therapeutics (NASDAQ:BDTX)‘s stock had its “outperform” rating reissued by investment analysts at Wedbush in a report issued on Wednesday,RTT News reports. They presently have a $11.00 target price on the stock. Wedbush’s target price indicates a potential upside of 485.11% from the stock’s current price.

Other research analysts have also recently issued reports about the stock. HC Wainwright lifted their price objective on shares of Black Diamond Therapeutics from $11.00 to $12.00 and gave the company a “buy” rating in a report on Tuesday. Stifel Nicolaus reduced their price objective on shares of Black Diamond Therapeutics from $16.00 to $15.00 and set a “buy” rating for the company in a report on Friday, March 7th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $14.60.

Black Diamond Therapeutics Stock Up 9.3 %

Black Diamond Therapeutics stock opened at $1.88 on Wednesday. The firm’s fifty day moving average is $2.16 and its 200 day moving average is $2.92. Black Diamond Therapeutics has a 12-month low of $1.59 and a 12-month high of $7.66. The company has a market capitalization of $106.52 million, a PE ratio of -1.41 and a beta of 2.52.

Black Diamond Therapeutics (NASDAQ:BDTX) last issued its quarterly earnings data on Thursday, March 6th. The company reported ($0.28) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.03. Sell-side analysts expect that Black Diamond Therapeutics will post -1.3 EPS for the current fiscal year.

Insiders Place Their Bets

In other Black Diamond Therapeutics news, major shareholder Growth N. V. Biotech sold 5,784,292 shares of the company’s stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $2.07, for a total value of $11,973,484.44. Following the completion of the sale, the insider now directly owns 2,733,547 shares of the company’s stock, valued at approximately $5,658,442.29. This represents a 67.91 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 8.87% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Black Diamond Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the stock. D. E. Shaw & Co. Inc. purchased a new position in shares of Black Diamond Therapeutics in the 4th quarter worth about $37,000. Intech Investment Management LLC boosted its holdings in shares of Black Diamond Therapeutics by 49.1% in the 4th quarter. Intech Investment Management LLC now owns 19,247 shares of the company’s stock worth $41,000 after buying an additional 6,340 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Black Diamond Therapeutics by 429.6% in the 4th quarter. JPMorgan Chase & Co. now owns 18,929 shares of the company’s stock worth $41,000 after buying an additional 15,355 shares during the last quarter. SG Americas Securities LLC purchased a new position in shares of Black Diamond Therapeutics in the 4th quarter worth about $42,000. Finally, Wells Fargo & Company MN boosted its holdings in shares of Black Diamond Therapeutics by 41.8% in the 4th quarter. Wells Fargo & Company MN now owns 20,119 shares of the company’s stock worth $43,000 after buying an additional 5,932 shares during the last quarter. 95.47% of the stock is owned by hedge funds and other institutional investors.

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.