Black Diamond Therapeutics (NASDAQ:BDTX) Receives Outperform Rating from Wedbush

Black Diamond Therapeutics (NASDAQ:BDTX - Get Free Report)'s stock had its "outperform" rating reiterated by equities researchers at Wedbush in a note issued to investors on Wednesday,RTT News reports. They presently have a $11.00 target price on the stock.

A number of other analysts have also weighed in on the company. HC Wainwright upped their target price on Black Diamond Therapeutics from $11.00 to $12.00 and gave the stock a "buy" rating in a report on Tuesday, March 18th. Stifel Nicolaus decreased their price objective on Black Diamond Therapeutics from $16.00 to $15.00 and set a "buy" rating for the company in a research note on Friday, March 7th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $14.60.

Black Diamond Therapeutics Stock Down 5.3 %

Shares of BDTX stock traded down $0.10 on Wednesday, hitting $1.78. The stock had a trading volume of 5,916,558 shares, compared to its average volume of 1,376,300. Black Diamond Therapeutics has a one year low of $1.59 and a one year high of $7.66. The business has a 50 day moving average price of $2.16 and a 200 day moving average price of $2.85. The company has a market cap of $100.86 million, a PE ratio of -1.34 and a beta of 2.52.

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Black Diamond Therapeutics (NASDAQ:BDTX - Get Free Report) last posted 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. Equities research analysts expect that Black Diamond Therapeutics will post -1.3 EPS for the current year.

Insider Transactions at Black Diamond Therapeutics

In related news, major shareholder Growth N. V. Biotech sold 5,784,292 shares of the company's stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $2.07, for a total transaction of $11,973,484.44. Following the transaction, the insider now directly owns 2,733,547 shares of the company's stock, valued at $5,658,442.29. This represents a 67.91 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 8.87% of the company's stock.

Institutional Investors Weigh In On Black Diamond Therapeutics

A number of large investors have recently modified their holdings of BDTX. Intech Investment Management LLC purchased a new position in shares of Black Diamond Therapeutics in the 3rd quarter valued at approximately $56,000. Charles Schwab Investment Management Inc. raised its holdings in shares of Black Diamond Therapeutics by 6.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 109,224 shares of the company's stock worth $475,000 after buying an additional 7,021 shares during the last quarter. FMR LLC acquired a new stake in shares of Black Diamond Therapeutics during the third quarter worth $779,000. MetLife Investment Management LLC grew its holdings in shares of Black Diamond Therapeutics by 129.1% during the third quarter. MetLife Investment Management LLC now owns 22,286 shares of the company's stock valued at $97,000 after buying an additional 12,557 shares during the last quarter. Finally, Walleye Capital LLC purchased a new stake in shares of Black Diamond Therapeutics during the third quarter valued at $49,000. Hedge funds and other 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.