Black Diamond Therapeutics (NASDAQ:BDTX) Releases Earnings Results

Black Diamond Therapeutics (NASDAQ:BDTX) posted its earnings results on Tuesday. The company reported ($0.15) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.07, Zacks reports.

Black Diamond Therapeutics Stock Up 2.8%

BDTX traded up $0.11 during trading on Thursday, reaching $3.98. 963,742 shares of the stock traded hands, compared to its average volume of 1,699,814. The stock has a market capitalization of $226.60 million, a PE ratio of 17.31 and a beta of 3.12. The stock’s 50-day moving average is $3.56 and its 200 day moving average is $2.80. Black Diamond Therapeutics has a 12 month low of $1.20 and a 12 month high of $4.45.

Institutional Trading of Black Diamond Therapeutics

A number of institutional investors have recently bought and sold shares of BDTX. Marshall Wace LLP bought a new stake in Black Diamond Therapeutics during the second quarter valued at $1,830,000. Jane Street Group LLC bought a new stake in Black Diamond Therapeutics during the second quarter valued at $517,000. Arrowstreet Capital Limited Partnership bought a new stake in Black Diamond Therapeutics during the second quarter valued at $343,000. AQR Capital Management LLC bought a new stake in Black Diamond Therapeutics during the first quarter valued at $84,000. Finally, Man Group plc bought a new stake in Black Diamond Therapeutics during the second quarter valued at $103,000. Institutional investors own 95.47% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Black Diamond Therapeutics in a research note on Wednesday, October 8th. Wall Street Zen cut shares of Black Diamond Therapeutics from a “buy” rating to a “hold” rating in a research note on Saturday, August 9th. Zacks Research cut shares of Black Diamond Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 10th. HC Wainwright decreased their target price on shares of Black Diamond Therapeutics from $12.00 to $10.00 and set a “buy” rating on the stock in a research note on Monday, August 11th. Finally, Guggenheim began coverage on shares of Black Diamond Therapeutics in a research note on Wednesday, September 3rd. They issued a “buy” rating and a $8.00 price objective on the stock. Five equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Black Diamond Therapeutics has an average rating of “Moderate Buy” and a consensus price target of $9.60.

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.