Wedbush Reiterates "Outperform" Rating for Black Diamond Therapeutics (NASDAQ:BDTX)

Wedbush restated their outperform rating on shares of Black Diamond Therapeutics (NASDAQ:BDTX - Free Report) in a research report report published on Friday morning,RTT News reports. They currently have a $11.00 price objective on the stock, down from their prior price objective of $16.00. Wedbush also issued estimates for Black Diamond Therapeutics' Q1 2026 earnings at ($0.22) EPS, Q2 2026 earnings at ($0.23) EPS, Q3 2026 earnings at ($0.23) EPS and Q4 2026 earnings at ($0.24) EPS.

Black Diamond Therapeutics Stock Performance

Shares of BDTX traded down $0.02 during trading hours on Friday, hitting $1.69. The company had a trading volume of 508,177 shares, compared to its average volume of 816,156. The stock has a market capitalization of $95.63 million, a price-to-earnings ratio of -1.27 and a beta of 2.52. The firm has a fifty day moving average price of $2.22 and a 200-day moving average price of $3.10. Black Diamond Therapeutics has a 52-week low of $1.59 and a 52-week high of $7.66.

Black Diamond Therapeutics (NASDAQ:BDTX - Get Free Report) last released its quarterly earnings data on Thursday, March 6th. The company reported ($0.28) earnings per share for the quarter, beating analysts' consensus estimates of ($0.31) by $0.03. Research analysts anticipate that Black Diamond Therapeutics will post -1.3 earnings per share for the current fiscal year.

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Hedge Funds Weigh In On Black Diamond Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vestal Point Capital LP lifted its holdings in shares of Black Diamond Therapeutics by 11.4% during the fourth quarter. Vestal Point Capital LP now owns 5,600,000 shares of the company's stock valued at $11,984,000 after purchasing an additional 571,500 shares in the last quarter. Squarepoint Ops LLC increased its holdings in Black Diamond Therapeutics by 122.8% in the 4th quarter. Squarepoint Ops LLC now owns 131,874 shares of the company's stock worth $282,000 after buying an additional 72,688 shares in the last quarter. Tang Capital Management LLC raised its position in Black Diamond Therapeutics by 51.1% in the 4th quarter. Tang Capital Management LLC now owns 2,070,209 shares of the company's stock worth $4,430,000 after buying an additional 700,000 shares during the last quarter. Nuveen Asset Management LLC lifted its stake in Black Diamond Therapeutics by 12.8% during the 4th quarter. Nuveen Asset Management LLC now owns 201,535 shares of the company's stock valued at $431,000 after acquiring an additional 22,802 shares during the period. Finally, Millennium Management LLC boosted its holdings in shares of Black Diamond Therapeutics by 503.0% during the 4th quarter. Millennium Management LLC now owns 558,076 shares of the company's stock valued at $1,194,000 after acquiring an additional 465,531 shares during 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.