Wedbush Has Positive Forecast for BDTX Q1 Earnings

Black Diamond Therapeutics, Inc. (NASDAQ:BDTX - Free Report) - Equities research analysts at Wedbush increased their Q1 2025 earnings per share (EPS) estimates for shares of Black Diamond Therapeutics in a report issued on Wednesday, March 19th. Wedbush analyst R. Driscoll now anticipates that the company will earn $0.92 per share for the quarter, up from their previous forecast of ($0.28). Wedbush currently has a "Outperform" rating and a $11.00 price target on the stock. The consensus estimate for Black Diamond Therapeutics' current full-year earnings is ($1.30) per share. Wedbush also issued estimates for Black Diamond Therapeutics' FY2025 earnings at $0.07 EPS.

Black Diamond Therapeutics (NASDAQ:BDTX - Get Free Report) last announced its quarterly earnings results on Thursday, March 6th. The company reported ($0.28) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.31) by $0.03.

Other equities analysts have also recently issued research reports about the company. Stifel Nicolaus lowered their target price on Black Diamond Therapeutics from $16.00 to $15.00 and set a "buy" rating for the company in a report on Friday, March 7th. HC Wainwright upped their price objective on Black Diamond Therapeutics from $11.00 to $12.00 and gave the company a "buy" rating in a research note on Tuesday, March 18th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Black Diamond Therapeutics presently has a consensus rating of "Buy" and an average price target of $14.60.

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Black Diamond Therapeutics Stock Up 5.0 %

Shares of NASDAQ:BDTX traded up $0.08 during trading on Monday, hitting $1.67. 2,964,436 shares of the company were exchanged, compared to its average volume of 1,422,913. Black Diamond Therapeutics has a 1-year low of $1.55 and a 1-year high of $7.66. The company has a market capitalization of $94.63 million, a P/E ratio of -1.26 and a beta of 2.52. The business's 50 day moving average is $2.13 and its 200-day moving average is $2.79.

Insider Buying and Selling

In related news, major shareholder Growth N. V. Biotech sold 5,784,292 shares of Black Diamond Therapeutics stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $2.07, for a total transaction of $11,973,484.44. Following the completion of the transaction, the insider now owns 2,733,547 shares of the company's stock, valued at $5,658,442.29. This trade represents a 67.91 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 8.87% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Vestal Point Capital LP grew its stake in Black Diamond Therapeutics by 139.5% during the third quarter. Vestal Point Capital LP now owns 5,028,500 shares of the company's stock worth $21,874,000 after purchasing an additional 2,928,500 shares during the period. Tang Capital Management LLC increased its stake in shares of 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 valued at $4,430,000 after acquiring an additional 700,000 shares in the last quarter. Point72 Asset Management L.P. acquired a new position in shares of Black Diamond Therapeutics during the 3rd quarter valued at $3,032,000. Renaissance Technologies LLC boosted its stake in Black Diamond Therapeutics by 256.2% during the fourth quarter. Renaissance Technologies LLC now owns 904,000 shares of the company's stock worth $1,935,000 after acquiring an additional 650,200 shares in the last quarter. Finally, Affinity Asset Advisors LLC acquired a new stake in Black Diamond Therapeutics in the fourth quarter worth $1,197,000. 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.