Adversity is less terrifying than hope: Black Diamond Therapeutics Inc. (BDTX)

Black Diamond Therapeutics Inc. (NASDAQ: BDTX) stock fell -1.39% on Friday to $3.55 against a previous-day closing price of $3.60. With 0.93 million shares changed hands, the volume of the stock remained lighter than its average volume of 4.34 million shares. During the session, the Biotechnology company that operates in wider Healthcare sector, reached to the highest price of $3.6100 whereas the lowest price it dropped to was $3.4600. The 52-week range on BDTX shows that it touched its highest point at $6.85 and its lowest point at $1.18 during that stretch. It currently has a 1-year price target of $11.33. Beta for the stock currently stands at 2.46.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of BDTX was up-trending over the past week, with a rise of 1.72%, but this was up by 15.26% over a month. Three-month performance surged to 69.05% while six-month performance rose 112.57%. The stock gained 32.96% in the past year, while it has gained 97.22% so far this year. A look at the trailing 12-month EPS for BDTX yields -2.27 with Next year EPS estimates of -1.69. For the next quarter, that number is -0.46. This implies an EPS growth rate of 27.70% for this year and 15.50% for next year.

Float and Shares Shorts:

At present, 51.58 million BDTX shares are outstanding with a float of 50.24 million shares on hand for trading. On Aug 30, 2023, short shares totaled 1.14 million, which was 2.22% higher than short shares on Jul 30, 2023. In addition to Dr. David M. Epstein Ph.D. as the firm’s Co-Founder, Pres, CEO & Director, Dr. Fang Ni Pharm.D. serves as its CFO, Principal Financial Officer and Chief Bus. Officer.

Institutional Ownership:

Through their ownership of 59.55% of BDTX’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 45.67% of BDTX, in contrast to 45.48% held by mutual funds. Shares owned by individuals account for 19.93%. As the largest shareholder in BDTX with 15.78% of the stake, Bellevue Asset Management AG holds 8,135,839 shares worth 8,135,839. A second-largest stockholder of BDTX, RA Capital Management LP, holds 3,525,754 shares, controlling over 6.84% of the firm’s shares. Invus Public Equities Advisors LL is the third largest shareholder in BDTX, holding 2,046,517 shares or 3.97% stake. With a 15.74% stake in BDTX, the BB Biotech AG is the largest stakeholder. A total of 8,117,839 shares are owned by the mutual fund manager. The Vanguard Total Stock Market ETF, which owns about 2.34% of BDTX stock, is the second-largest Mutual Fund holder. It holds 1,204,957 shares valued at 4.06 million. Vanguard Extended Market Index Fu holds 0.51% of the stake in BDTX, owning 261,591 shares worth 0.88 million.

An Overview of Recent Financials:

Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Jun 29, 2023, BDTX reported revenue of $0.00 and operating income of -$23.17M. The EBITDA in the recently reported quarter was -$23.05M and diluted EPS was -$0.63.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for BDTX since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With BDTX analysts setting a high price target of $16.00 and a low target of $10.00, the average target price over the next 12 months is $11.33. Based on these targets, BDTX could surge 350.7% to reach the target high and rise by 181.69% to reach the target low. Reaching the average price target will result in a growth of 219.15% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.

Summary of Insider Activity:

Insiders traded BDTX stock several times over the past three months with 4 Buys and 1 Sells. In these transactions, 4,675,850 shares were bought while 25,000 shares were sold. The number of buy transactions has increased to 20 while that of sell transactions has risen to 1 over the past year. The total number of shares bought during that period was 5,477,693 while 25,000 shares were sold.

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