The stock of Black Diamond Therapeutics Inc. (NASDAQ:BDTX) increased by $0.08 on Tuesday to finish at $3.28, up 2.50 percent. The last five days have seen an average of 569,340 shares of common stock traded. 10 times new highs were reached in the current year, with a gain of $1.48. The average number of shares traded over the last 20 days was 403,225, while the average volume over the last 50 days totaled 5,388,834.
BDTX stock dropped -12.06% since last month. On 08/18/23, the company’s shares reached a one-month low of $3.01. The stock touched a high of $6.85 on 06/27/23, after rallying from a low of $1.18 in 52 weeks. The price of BDTX stock has risen by 82.22% or $1.48 this year, reaching a new high 10 times. Still, the stock price is down -52.12% from the 52-week high.
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Insider Transactions
BDTX stock investors should be aware that Black Diamond Therapeutics Inc. (BDTX) stock had its last reported insider trading activity 56 days ago on Jul 05. On Jul 05, Director Behbahani Ali acquired 1,000,000 shares at $5.00 each. This transaction resulted in the insider spending $5,000,000. On Jul 05, RA CAPITAL MANAGEMENT, L.P. added 935,850 shares at a price of US$5.00. After the transaction, the insider now owns 3,213,828 shares. 10% Owner BIOTECH GROWTH N V had earlier bought 1,000,000 shares on Jun 30 for $5.00 a share. The transaction was completed for $5,000,000.
Financial Health
For the three months ended June 29, Black Diamond Therapeutics Inc.’s quick ratio was 6.70, while its current ratio was 6.70, indicating its ability to pay off its debt.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. BDTX’s return on assets (ROA) during the last 12 months has been -55.90%. In the meantime, the return on equity (ROE) for the last 12 months was -77.10%.
Earnings Surprise
According to Black Diamond Therapeutics Inc.’s quarterly financial report for the quarter that ended June 29. It was predicted that Black Diamond Therapeutics Inc.’s quarterly earnings would be -$0.52, but it ended up being -$0.54, beating the consensus by 3.70%. At the end of Black Diamond Therapeutics Inc.’s most recent quarter ended June 29, its liabilities totaled 37.68 million, while its total debt was $26.76 million. Equity owned by shareholders amounts to $51.58 million.
Technical Picture
Here’s a quick look at Black Diamond Therapeutics Inc.’s (BDTX) price momentum from a technical perspective. As of 29 August, the RSI 9-day stood at 48.01%, suggesting the stock is Neutral, with a 28.60% historical volatility rate.
The stochastic %K and %D were 45.33% and 44.30% respectively, while the average true range (ATR) was 0.19. Based on the 14-day stochastic reading of 54.00%, the RSI (14) reading is 45.80%. On the 9-day MACD Oscillator, the stock is at 0.05, and the 14-day reading is at 0.03.
Analyst Ratings
In its analyst report released on July 14, 2023, Piper Sandler began covering Black Diamond Therapeutics Inc. (NASDAQ: BDTX). The stock was rated as an Overweight by the brokerage firm. Analysts have assigned Black Diamond Therapeutics Inc. (BDTX) an Buy rating. BDTX is a stock that is recommended for selling by 0 brokerage firms, while 0 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 0 rates it overweight and 6 others recommend it as a buy.
What is BDTX’s price target for the next 12 months?
The current consensus forecast for the stock is between $10.00 and $11.00, with a median target price of $10.00. In analyzing these forecasts, the average price target given by analysts for Black Diamond Therapeutics Inc. (BDTX) is $10.40.
