Brokerages Set Black Diamond Therapeutics, Inc. (NASDAQ:BDTX) Target Price at $14.60

Black Diamond Therapeutics, Inc. (NASDAQ:BDTX) has been given a consensus recommendation of “Buy” by the five analysts that are presently covering the stock, MarketBeat.com reports. Five equities research analysts have rated the stock with a buy recommendation. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $14.60.

BDTX has been the subject of several recent research reports. Wall Street Zen raised shares of Black Diamond Therapeutics from a “hold” rating to a “buy” rating in a research report on Saturday, June 14th. Stifel Nicolaus decreased their price target on shares of Black Diamond Therapeutics from $16.00 to $15.00 and set a “buy” rating for the company in a research report on Friday, March 7th. HC Wainwright raised 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, March 18th. Finally, Wedbush reissued an “outperform” rating and issued a $11.00 price target on shares of Black Diamond Therapeutics in a research report on Wednesday, March 19th.

Black Diamond Therapeutics Price Performance

Shares of BDTX stock opened at $2.33 on Monday. Black Diamond Therapeutics has a 52 week low of $1.20 and a 52 week high of $6.75. The stock has a market capitalization of $132.48 million, a PE ratio of 38.83 and a beta of 2.71. The firm has a 50 day moving average of $1.96 and a two-hundred day moving average of $2.03.

Institutional Investors Weigh In On Black Diamond Therapeutics

Several institutional investors have recently modified their holdings of the company. Vestal Point Capital LP lifted its position in shares of Black Diamond Therapeutics by 11.4% during the 4th quarter. Vestal Point Capital LP now owns 5,600,000 shares of the company’s stock worth $11,984,000 after purchasing an additional 571,500 shares during the last quarter. Tang Capital Management LLC lifted its position in shares of Black Diamond Therapeutics by 51.1% during the 4th quarter. Tang Capital Management LLC now owns 2,070,209 shares of the company’s stock worth $4,430,000 after purchasing an additional 700,000 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Black Diamond Therapeutics by 1.5% during the 4th quarter. Geode Capital Management LLC now owns 959,316 shares of the company’s stock worth $2,053,000 after purchasing an additional 14,439 shares during the last quarter. Renaissance Technologies LLC lifted its position in shares of Black Diamond Therapeutics by 256.2% during the 4th quarter. Renaissance Technologies LLC now owns 904,000 shares of the company’s stock worth $1,935,000 after purchasing an additional 650,200 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of Black Diamond Therapeutics by 158.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 661,436 shares of the company’s stock worth $1,416,000 after purchasing an additional 405,579 shares during the last quarter. 95.47% of the stock is owned by hedge funds and other 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.