Stifel Nicolaus Issues Pessimistic Forecast for Black Diamond Therapeutics (NASDAQ:BDTX) Stock Price

Black Diamond Therapeutics (NASDAQ:BDTX) had its target price cut by equities researchers at Stifel Nicolaus from $16.00 to $15.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the stock.

Separately, Wedbush reissued an “outperform” rating and set a $11.00 price objective (down previously from $16.00) on shares of Black Diamond Therapeutics in a report on Friday. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Black Diamond Therapeutics has a consensus rating of “Buy” and a consensus target price of $14.40.

Black Diamond Therapeutics Trading Up 1.8 %

NASDAQ BDTX traded up $0.04 on Friday, reaching $1.94. The stock had a trading volume of 183,618 shares, compared to its average volume of 811,265. Black Diamond Therapeutics has a 1 year low of $1.77 and a 1 year high of $7.66. The business has a 50 day moving average price of $2.24 and a 200 day moving average price of $3.23. The company has a market capitalization of $109.49 million, a price-to-earnings ratio of -1.44 and a beta of 2.52.

Black Diamond Therapeutics (NASDAQ:BDTX) last announced its quarterly earnings results on Thursday, March 6th. The company reported ($0.28) EPS for the quarter, beating the consensus estimate of ($0.31) by $0.03. On average, analysts anticipate that Black Diamond Therapeutics will post -1.3 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Black Diamond Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. D. E. Shaw & Co. Inc. acquired a new position in Black Diamond Therapeutics in the fourth quarter worth about $37,000. Intech Investment Management LLC grew its stake 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 valued at $41,000 after purchasing an additional 6,340 shares during the period. JPMorgan Chase & Co. raised 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 in the last quarter. SG Americas Securities LLC bought a new position in shares of Black Diamond Therapeutics during the 4th quarter worth approximately $42,000. Finally, Wells Fargo & Company MN boosted its stake in Black Diamond Therapeutics by 41.8% in the 4th quarter. Wells Fargo & Company MN now owns 20,119 shares of the company’s stock valued at $43,000 after buying an additional 5,932 shares in the last quarter. 95.47% of the stock is owned by institutional investors.

About Black Diamond Therapeutics

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.