Black Diamond Therapeutics (NASDAQ:BDTX) Trading Down 1.1% – What’s Next?

Black Diamond Therapeutics, Inc. (NASDAQ:BDTX) shares were down 1.1% during trading on Friday . The company traded as low as $1.78 and last traded at $1.79. Approximately 708,166 shares traded hands during trading, a decline of 62% from the average session volume of 1,840,584 shares. The stock had previously closed at $1.81.

Wall Street Analysts Forecast Growth

BDTX has been the subject of several research analyst reports. Raymond James Financial reiterated an “outperform” rating on shares of Black Diamond Therapeutics in a report on Friday, May 22nd. Wall Street Zen downgraded Black Diamond Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Weiss Ratings lowered Black Diamond Therapeutics from a “sell (d)” rating to a “sell (d-)” rating in a research note on Monday. BTIG Research lifted their price target on shares of Black Diamond Therapeutics from $10.00 to $11.00 and gave the company a “buy” rating in a report on Wednesday, April 29th. Finally, Jefferies Financial Group raised shares of Black Diamond Therapeutics to a “strong-buy” rating in a research report on Thursday, April 23rd. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $9.83.

Black Diamond Therapeutics Stock Down 1.1%

The company’s fifty day simple moving average is $2.11 and its 200 day simple moving average is $2.36. The firm has a market capitalization of $102.57 million, a PE ratio of -2.32 and a beta of 3.25.

Black Diamond Therapeutics (NASDAQ:BDTX) last posted its quarterly earnings data on Thursday, May 7th. The company reported ($0.16) earnings per share for the quarter, beating the consensus estimate of ($0.18) by $0.02. Equities research analysts forecast that Black Diamond Therapeutics, Inc. will post -0.6 EPS for the current year.

Institutional Investors Weigh In On Black Diamond Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Cerity Partners LLC purchased a new stake in Black Diamond Therapeutics in the second quarter worth $26,000. Hudson Bay Capital Management LP purchased a new position in Black Diamond Therapeutics during the second quarter valued at $26,000. nVerses Capital LLC bought a new stake in shares of Black Diamond Therapeutics during the 4th quarter valued at $26,000. Stokes Family Office LLC bought a new stake in shares of Black Diamond Therapeutics during the 4th quarter valued at $27,000. Finally, Brookstone Capital Management purchased a new stake in shares of Black Diamond Therapeutics in the 1st quarter worth about $30,000. 95.47% of the stock is owned by hedge funds and other institutional investors.

About Black Diamond Therapeutics

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.