Black Diamond Therapeutics (NASDAQ:BDTX) Issues Quarterly Earnings Results, Beats Expectations By $0.03 EPS

Black Diamond Therapeutics (NASDAQ:BDTX) released its quarterly earnings results on Wednesday. The company reported ($0.17) earnings per share for the quarter, topping the consensus estimate of ($0.20) by $0.03, FiscalAI reports.

Black Diamond Therapeutics Stock Up 0.3%

Shares of BDTX traded up $0.01 during trading hours on Friday, hitting $1.93. 215,268 shares of the company were exchanged, compared to its average volume of 1,148,073. Black Diamond Therapeutics has a fifty-two week low of $1.60 and a fifty-two week high of $4.94. The company has a market cap of $110.30 million, a price-to-earnings ratio of -2.58 and a beta of 3.28. The firm’s fifty day moving average is $1.84 and its 200 day moving average is $2.27.

Wall Street Analyst Weigh In

A number of research analysts have commented on BDTX shares. TD Cowen reaffirmed a “buy” rating on shares of Black Diamond Therapeutics in a report on Thursday. HC Wainwright reissued a “buy” rating on shares of Black Diamond Therapeutics in a research report on Friday, May 22nd. BTIG Research upped their price target on shares of Black Diamond Therapeutics from $10.00 to $11.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Wall Street Zen downgraded shares of Black Diamond Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Finally, Raymond James Financial reaffirmed an “outperform” rating on shares of Black Diamond Therapeutics in a research report on Thursday. Eight equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Black Diamond Therapeutics has a consensus rating of “Moderate Buy” and a consensus price target of $9.83.

Institutional Investors Weigh In On Black Diamond Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the company. nVerses Capital LLC acquired a new stake in Black Diamond Therapeutics during the fourth quarter worth about $26,000. Hudson Bay Capital Management LP acquired a new position in shares of Black Diamond Therapeutics in the 2nd quarter valued at approximately $26,000. Cerity Partners LLC bought a new stake in shares of Black Diamond Therapeutics during the 2nd quarter worth approximately $26,000. Stokes Family Office LLC bought a new stake in shares of Black Diamond Therapeutics during the 4th quarter worth approximately $27,000. Finally, American Century Companies Inc. acquired a new stake in shares of Black Diamond Therapeutics during the 2nd quarter worth approximately $30,000. Institutional investors own 95.47% of the company’s stock.

About Black Diamond Therapeutics

Black Diamond Therapeutics, Inc is a precision oncology company focused on the discovery and development of small-molecule therapies that selectively target oncogenic proteins bearing tumor-driving mutations. Leveraging its proprietary Genetic Defined Allosteric (GDA) therapeutic platform, the company aims to identify unique allosteric binding sites in mutant proteins and engineer highly selective inhibitors. Headquartered in Cambridge, Massachusetts, Black Diamond applies structure-based drug design and molecular modeling to advance personalized cancer treatments.

The company’s development pipeline includes lead candidate BDTX-189, an allosteric inhibitor of mutant HER2, as well as programs directed at clinically relevant EGFR and KRAS mutations.