Black Diamond Therapeutics (NASDAQ:BDTX) Price Target Cut to $15.00 by Analysts at Stifel Nicolaus

Black Diamond Therapeutics (NASDAQ:BDTX) had its price objective cut by equities research analysts at Stifel Nicolaus from $16.00 to $15.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the stock.

Separately, Wedbush restated an “outperform” rating and issued a $11.00 price target (down previously from $16.00) on shares of Black Diamond Therapeutics in a research report on Friday. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $14.40.

Black Diamond Therapeutics Stock Up 1.8 %

Black Diamond Therapeutics stock traded up $0.04 during mid-day trading on Friday, hitting $1.94. 183,618 shares of the company’s stock traded hands, compared to its average volume of 811,265. Black Diamond Therapeutics has a one year low of $1.77 and a one year high of $7.66. The firm has a 50 day moving average price of $2.24 and a 200 day moving average price of $3.23. The company has a market cap of $109.49 million, a PE ratio of -1.44 and a beta of 2.52.

Black Diamond Therapeutics (NASDAQ:BDTX) last posted its quarterly earnings data on Thursday, March 6th. The company reported ($0.28) EPS for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.03. On average, analysts expect that Black Diamond Therapeutics will post -1.3 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Black Diamond Therapeutics

A number of large investors have recently made changes to their positions in BDTX. Vestal Point Capital LP grew its position in 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 in the last quarter. Squarepoint Ops LLC grew its holdings in shares of Black Diamond Therapeutics by 122.8% during the fourth quarter. Squarepoint Ops LLC now owns 131,874 shares of the company’s stock valued at $282,000 after buying an additional 72,688 shares in the last quarter. Tang Capital Management LLC raised its position in Black Diamond Therapeutics by 51.1% during the fourth quarter. Tang Capital Management LLC now owns 2,070,209 shares of the company’s stock valued at $4,430,000 after buying an additional 700,000 shares during the period. Nuveen Asset Management LLC lifted its stake in Black Diamond Therapeutics by 12.8% in the 4th quarter. Nuveen Asset Management LLC now owns 201,535 shares of the company’s stock worth $431,000 after acquiring an additional 22,802 shares in the last quarter. Finally, Millennium Management LLC lifted its stake in Black Diamond Therapeutics by 503.0% in the 4th quarter. Millennium Management LLC now owns 558,076 shares of the company’s stock worth $1,194,000 after acquiring an additional 465,531 shares in the last quarter. Institutional investors and hedge funds own 95.47% of the company’s stock.

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.