Black Diamond Therapeutics (NASDAQ:BDTX) Raised to Strong-Buy at Piper Sandler

Black Diamond Therapeutics (NASDAQ:BDTX) was upgraded by Piper Sandler to a “strong-buy” rating in a note issued to investors on Monday,Zacks.com reports.

BDTX has been the subject of a number of other research reports. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Black Diamond Therapeutics in a report on Wednesday, October 8th. Zacks Research downgraded Black Diamond Therapeutics from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 10th. HC Wainwright cut 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 report on Monday, August 11th. Guggenheim began coverage on shares of Black Diamond Therapeutics in a report on Wednesday, September 3rd. They set a “buy” rating and a $8.00 target price on the stock. Finally, Wall Street Zen downgraded shares of Black Diamond Therapeutics from a “buy” rating to a “hold” rating in a research note on Saturday, August 9th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Black Diamond Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus price target of $9.50.

Black Diamond Therapeutics Price Performance

Shares of NASDAQ:BDTX opened at $3.97 on Monday. Black Diamond Therapeutics has a one year low of $1.20 and a one year high of $4.94. The company has a market cap of $226.17 million, a price-to-earnings ratio of 11.03 and a beta of 3.12. The firm has a 50 day simple moving average of $3.80 and a 200 day simple moving average of $2.97.

Black Diamond Therapeutics (NASDAQ:BDTX) last announced its quarterly earnings results on Thursday, November 6th. The company reported ($0.15) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.22) by $0.07. As a group, analysts expect that Black Diamond Therapeutics will post -1.3 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in BDTX. XTX Topco Ltd boosted its stake in shares of Black Diamond Therapeutics by 20.6% in the 3rd quarter. XTX Topco Ltd now owns 216,195 shares of the company’s stock valued at $819,000 after purchasing an additional 36,961 shares during the last quarter. Qube Research & Technologies Ltd lifted its holdings in Black Diamond Therapeutics by 17.8% in the third quarter. Qube Research & Technologies Ltd now owns 78,266 shares of the company’s stock valued at $297,000 after buying an additional 11,815 shares during the period. Bank of America Corp DE boosted its position in Black Diamond Therapeutics by 22.5% during the third quarter. Bank of America Corp DE now owns 43,359 shares of the company’s stock valued at $164,000 after acquiring an additional 7,972 shares during the last quarter. Virtu Financial LLC bought a new stake in Black Diamond Therapeutics during the third quarter valued at $39,000. Finally, Man Group plc grew its holdings in Black Diamond Therapeutics by 88.4% during the 3rd quarter. Man Group plc now owns 78,326 shares of the company’s stock worth $297,000 after acquiring an additional 36,749 shares during the period. Institutional investors own 95.47% of the company’s stock.

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.