Black Diamond Therapeutics (NASDAQ:BDTX) Given Outperform Rating at Wedbush

Black Diamond Therapeutics (NASDAQ:BDTX)‘s stock had its “outperform” rating reissued by Wedbush in a report released on Wednesday,RTT News reports. They currently have a $11.00 price target on the stock. Wedbush’s price objective points to a potential upside of 410.44% from the company’s previous close.

BDTX has been the topic of several other reports. HC Wainwright increased their price target on shares of Black Diamond Therapeutics from $11.00 to $12.00 and gave the company a “buy” rating in a research report on Tuesday. Stifel Nicolaus lowered their price target on shares of Black Diamond Therapeutics from $16.00 to $15.00 and set a “buy” rating on the stock in a research report on Friday, March 7th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $14.60.

Black Diamond Therapeutics Stock Performance

BDTX traded up $0.48 on Wednesday, hitting $2.16. 91,938,464 shares of the company were exchanged, compared to its average volume of 1,181,657. The business’s fifty day moving average is $2.17 and its 200 day moving average is $2.93. Black Diamond Therapeutics has a fifty-two week low of $1.59 and a fifty-two week high of $7.66. The firm has a market capitalization of $122.11 million, a P/E ratio of -1.62 and a beta of 2.52.

Black Diamond Therapeutics (NASDAQ:BDTX) last released 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. Analysts forecast that Black Diamond Therapeutics will post -1.3 EPS for the current fiscal year.

Institutional Trading of Black Diamond Therapeutics

A number of hedge funds have recently bought and sold shares of BDTX. Intech Investment Management LLC acquired a new stake in Black Diamond Therapeutics during the third quarter worth approximately $56,000. Charles Schwab Investment Management Inc. raised its stake in Black Diamond Therapeutics by 6.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 109,224 shares of the company’s stock worth $475,000 after purchasing an additional 7,021 shares during the period. FMR LLC purchased a new position in Black Diamond Therapeutics during the third quarter worth approximately $779,000. MetLife Investment Management LLC raised its stake in Black Diamond Therapeutics by 129.1% during the third quarter. MetLife Investment Management LLC now owns 22,286 shares of the company’s stock worth $97,000 after purchasing an additional 12,557 shares during the period. Finally, Walleye Capital LLC purchased a new position in Black Diamond Therapeutics during the third quarter worth approximately $49,000. Institutional investors and hedge funds 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.