Black Diamond Therapeutics (NASDAQ:BDTX) Releases Earnings Results

Black Diamond Therapeutics (NASDAQ:BDTX) released its quarterly earnings data on Monday. The company reported ($0.27) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.18) by ($0.09), FiscalAI reports.

Black Diamond Therapeutics Trading Up 3.1%

Shares of NASDAQ BDTX traded up $0.07 during trading hours on Monday, reaching $2.19. The stock had a trading volume of 300,904 shares, compared to its average volume of 772,717. Black Diamond Therapeutics has a fifty-two week low of $1.20 and a fifty-two week high of $4.94. The firm has a 50-day moving average of $2.43 and a 200-day moving average of $3.07. The firm has a market cap of $124.48 million, a price-to-earnings ratio of 6.07 and a beta of 3.34.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of BDTX. Invesco Ltd. grew its stake in shares of Black Diamond Therapeutics by 37.9% in the 4th quarter. Invesco Ltd. now owns 131,438 shares of the company’s stock valued at $319,000 after purchasing an additional 36,094 shares during the last quarter. Mackenzie Financial Corp acquired a new stake in shares of Black Diamond Therapeutics in the 4th quarter valued at approximately $876,000. nVerses Capital LLC acquired a new position in Black Diamond Therapeutics during the fourth quarter worth $26,000. Stokes Family Office LLC acquired a new stake in Black Diamond Therapeutics in the fourth quarter valued at $27,000. Finally, Verdad Advisers LP purchased a new stake in shares of Black Diamond Therapeutics during the 4th quarter worth $234,000. 95.47% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on BDTX. Zacks Research cut shares of Black Diamond Therapeutics from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 6th. Piper Sandler decreased their target price on Black Diamond Therapeutics from $9.00 to $8.00 and set an “overweight” rating on the stock in a research note on Friday, January 16th. Guggenheim cut shares of Black Diamond Therapeutics from a “buy” rating to a “neutral” rating in a report on Wednesday, December 3rd. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Black Diamond Therapeutics in a research note on Monday, December 29th. Five equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $9.33.

Black Diamond Therapeutics Company Profile

Black Diamond Therapeutics, Inc is a precision oncology company focused on the discovery and development of small-molecule therapies that selectively target oncogenic proteins bearing tumor-driving mutations. Leveraging its proprietary Genetic Defined Allosteric (GDA) therapeutic platform, the company aims to identify unique allosteric binding sites in mutant proteins and engineer highly selective inhibitors. Headquartered in Cambridge, Massachusetts, Black Diamond applies structure-based drug design and molecular modeling to advance personalized cancer treatments.

The company’s development pipeline includes lead candidate BDTX-189, an allosteric inhibitor of mutant HER2, as well as programs directed at clinically relevant EGFR and KRAS mutations.