Black Diamond Therapeutics (NASDAQ:BDTX) Downgraded by Wall Street Zen to “Hold”

Wall Street Zen downgraded shares of Black Diamond Therapeutics (NASDAQ:BDTX) from a buy rating to a hold rating in a report released on Friday morning.

BDTX has been the topic of several other reports. 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. Stifel Nicolaus decreased their price target on 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. Finally, Wedbush restated an “outperform” rating and set a $11.00 price target on shares of Black Diamond Therapeutics in a research report on Wednesday, March 19th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $14.60.

Black Diamond Therapeutics Trading Up 3.6%

BDTX stock opened at $2.58 on Friday. Black Diamond Therapeutics has a 1-year low of $1.20 and a 1-year high of $6.75. The firm has a market cap of $146.71 million, a P/E ratio of -1.94 and a beta of 2.71. The business’s 50 day moving average is $1.76 and its 200-day moving average is $2.04.

Black Diamond Therapeutics (NASDAQ:BDTX) last released its quarterly earnings data on Thursday, March 6th. The company reported ($0.28) earnings per share for the quarter, beating the consensus estimate of ($0.31) by $0.03. Sell-side analysts forecast that Black Diamond Therapeutics will post -1.3 EPS for the current year.

Insider Buying and Selling

In related news, major shareholder Growth N. V. Biotech sold 5,784,292 shares of the stock in a transaction that occurred on 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 sale, the insider now directly owns 2,733,547 shares in the company, valued at $5,658,442.29. This represents a 67.91% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 5.97% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Black Diamond Therapeutics

A number of large investors have recently bought and sold shares of BDTX. D. E. Shaw & Co. Inc. acquired a new position in Black Diamond Therapeutics during the 4th quarter worth $37,000. Intech Investment Management LLC lifted its holdings in Black Diamond Therapeutics by 49.1% during the 4th quarter. Intech Investment Management LLC now owns 19,247 shares of the company’s stock worth $41,000 after buying an additional 6,340 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Black Diamond Therapeutics by 429.6% during the 4th quarter. JPMorgan Chase & Co. now owns 18,929 shares of the company’s stock worth $41,000 after buying an additional 15,355 shares in the last quarter. SG Americas Securities LLC acquired a new position in Black Diamond Therapeutics during the 4th quarter worth $42,000. Finally, Wells Fargo & Company MN lifted its holdings in Black Diamond Therapeutics by 41.8% during the 4th quarter. Wells Fargo & Company MN now owns 20,119 shares of the company’s stock worth $43,000 after buying an additional 5,932 shares in the last quarter. 95.47% of the stock is currently owned by institutional investors.

Black Diamond Therapeutics Company Profile

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.