Raymond James Begins Coverage on Black Diamond Therapeutics (NASDAQ:BDTX)

Raymond James initiated coverage on shares of Black Diamond Therapeutics (NASDAQ:BDTX) in a report released on Wednesday morning, MarketBeat Ratings reports. The firm issued an outperform rating and a $20.00 price objective on the stock.

Other research analysts also recently issued reports about the stock. Piper Sandler reaffirmed an overweight rating and issued a $12.00 target price on shares of Black Diamond Therapeutics in a research report on Wednesday, July 3rd. Wedbush increased their target price on shares of Black Diamond Therapeutics from $10.00 to $16.00 and gave the company an outperform rating in a research report on Monday, April 8th. Finally, HC Wainwright reaffirmed a buy rating and issued a $11.00 target price on shares of Black Diamond Therapeutics in a research report on Friday, June 7th.

Black Diamond Therapeutics Trading Down 5.0 %

Shares of BDTX opened at $5.76 on Wednesday. Black Diamond Therapeutics has a twelve month low of $1.62 and a twelve month high of $7.66. The firm’s fifty day simple moving average is $5.28 and its 200-day simple moving average is $4.96. The firm has a market capitalization of $324 million, a price-to-earnings ratio of -3.47 and a beta of 2.49.

Black Diamond Therapeutics (NASDAQ:BDTX) last announced its quarterly earnings data on Thursday, May 9th. The company reported ($0.35) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.09. On average, analysts predict that Black Diamond Therapeutics will post -1.47 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Susquehanna Fundamental Investments LLC purchased a new position in Black Diamond Therapeutics during the 1st quarter worth $82,000. SG Americas Securities LLC purchased a new position in Black Diamond Therapeutics during the 2nd quarter worth $108,000. Jump Financial LLC grew its position in Black Diamond Therapeutics by 245.0% during the 4th quarter. Jump Financial LLC now owns 38,888 shares of the company’s stock worth $109,000 after purchasing an additional 27,616 shares during the last quarter. Pale Fire Capital SE purchased a new position in Black Diamond Therapeutics during the 4th quarter worth $144,000. Finally, Rhumbline Advisers boosted its holdings in shares of Black Diamond Therapeutics by 10,334.3% in the second quarter. Rhumbline Advisers now owns 46,850 shares of the company’s stock valued at $218,000 after acquiring an additional 46,401 shares in 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.