Black Diamond Therapeutics (NASDAQ:BDTX) Issues Quarterly Earnings Results

Black Diamond Therapeutics (NASDAQ:BDTX) released its quarterly earnings data on Wednesday. The company reported ($0.17) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.03, FiscalAI reports.

Black Diamond Therapeutics Stock Up 5.3%

Shares of Black Diamond Therapeutics stock traded up $0.10 during mid-day trading on Thursday, reaching $1.89. 142,200 shares of the stock traded hands, compared to its average volume of 1,149,411. Black Diamond Therapeutics has a fifty-two week low of $1.60 and a fifty-two week high of $4.94. The business has a 50-day moving average of $1.85 and a 200 day moving average of $2.28. The stock has a market capitalization of $108.01 million, a PE ratio of -2.45 and a beta of 3.28.

Wall Street Analysts Forecast Growth

BDTX has been the topic of several research reports. HC Wainwright restated a “buy” rating on shares of Black Diamond Therapeutics in a research note on Friday, May 22nd. Jefferies Financial Group raised Black Diamond Therapeutics to a “strong-buy” rating in a research report on Thursday, April 23rd. TD Cowen reissued a “buy” rating on shares of Black Diamond Therapeutics in a research report on Friday, May 22nd. Weiss Ratings downgraded Black Diamond Therapeutics from a “sell (d)” rating to a “sell (d-)” rating in a research report on Monday, July 13th. Finally, Raymond James Financial reissued an “outperform” rating on shares of Black Diamond Therapeutics in a research report on Friday, May 22nd. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $9.83.

Institutional Investors Weigh In On Black Diamond Therapeutics

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

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.