Black Diamond Therapeutics Inc. [BDTX] is -4.32% lower this YTD. Is it still time to buy?


Black Diamond Therapeutics Inc. [NASDAQ: BDTX] closed the trading session at $5.10 on 01/11/22. The day’s price range saw the stock hit a low of $4.76, while the highest price level was $5.21. The company report on January 11, 2022 that Black Diamond Therapeutics Announces FDA Allowance of IND Application for BDTX-1535, A MasterKey Inhibitor of EGFR for the Treatment of Gliobastoma and Non-Small Cell Lung Cancer.

Black Diamond Therapeutics, Inc. (Nasdaq: BDTX), a precision oncology medicine company pioneering the discovery and development of MasterKey therapies, today announced that the U.S. Food and Drug Administration (FDA) has cleared an investigational new drug (IND) application for its MasterKey inhibitor BDTX-1535, an irreversible, mutant selective, brain-penetrant inhibitor of oncogenic mutations of epidermal growth factor receptor (EGFR) expressed in glioblastoma multiforme (GBM) and intrinsic and acquired resistance EGFR mutations in non-small cell lung cancer (NSCLC). The Company expects to initiate the Phase 1 study of BDTX-1535 in the first quarter of 2022 and expects to provide a clinical update in the second half of 2023.

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“We are incredibly pleased to announce the FDA allowance of our IND, representing a significant milestone for Black Diamond as we continue to mature our pipeline of MasterKey therapies,” said David Epstein, Ph.D., President and Chief Executive Officer of Black Diamond Therapeutics. “Based on the unique approach of our MAP discovery engine platform, we believe that BDTX-1535 is well positioned to address the unmet needs of EGFR mutant GBM and NSCLC with robust brain penetration to ensure adequate CNS exposure and potent and selective inhibition of EGFR mutations that drive intrinsic and acquired resistance to current generation tyrosine kinase inhibitors, coupled with favorable drug-like properties seen in preclinical models. We look forward to the upcoming initiation of the Phase 1 Study in the first quarter of 2022.”.

The stocks have a year to date performance of -4.32 percent and weekly performance of -2.49 percent. The stock has been moved at -50.72 percent over the last six months. The stock has performed -14.57 percent around the most recent 30 days and changed -36.49 percent over the most recent 3-months.

If compared to the average trading volume of 242.26K shares, BDTX reached to a volume of 18952623 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Black Diamond Therapeutics Inc. [BDTX]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for BDTX shares is $31.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on BDTX stock is a recommendation set at 1.90. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Stifel have made an estimate for Black Diamond Therapeutics Inc. shares, keeping their opinion on the stock as Hold, with their previous recommendation back on September 30, 2021. While these analysts kept the previous recommendation, Wedbush raised their target price to Outperform. The new note on the price target was released on January 07, 2021, representing the official price target for Black Diamond Therapeutics Inc. stock. Previously, the target price had yet another raise to $58, while Berenberg analysts kept a Buy rating on BDTX stock.

The Average True Range (ATR) for Black Diamond Therapeutics Inc. is set at 0.45 The Price to Book ratio for the last quarter was 0.84, with the Price to Cash per share for the same quarter was set at 6.63.

BDTX stock trade performance evaluation

Black Diamond Therapeutics Inc. [BDTX] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -2.49. With this latest performance, BDTX shares dropped by -14.57% in over the last four-week period, additionally sinking by -50.72% over the last 6 months – not to mention a drop of -82.78% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for BDTX stock in for the last two-week period is set at 42.92, with the RSI for the last a single of trading hit 46.13, and the three-weeks RSI is set at 40.74 for Black Diamond Therapeutics Inc. [BDTX]. The present Moving Average for the last 50 days of trading for this stock 6.32, while it was recorded at 4.93 for the last single week of trading, and 12.03 for the last 200 days.

Black Diamond Therapeutics Inc. [BDTX]: An insightful look at the core fundamentals

Return on Total Capital for BDTX is now -29.61, given the latest momentum, and Return on Invested Capital for the company is -28.69. Return on Equity for this stock declined to -51.61, with Return on Assets sitting at -27.57. When it comes to the capital structure of this company, Black Diamond Therapeutics Inc. [BDTX] has a Total Debt to Total Equity ratio set at 2.84. Additionally, BDTX Total Debt to Total Capital is recorded at 2.76, with Total Debt to Total Assets ending up at 2.65. Long-Term Debt to Equity for the company is recorded at 2.50, with the Long-Term Debt to Total Capital now at 2.43.

Reflecting on the efficiency of the workforce at the company, Black Diamond Therapeutics Inc. [BDTX] managed to generate an average of -$921,288 per employee.Black Diamond Therapeutics Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 9.20 and a Current Ratio set at 9.20.

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Black Diamond Therapeutics Inc. [BDTX]: Insider Ownership positions

There are presently around $123 million, or 85.20% of BDTX stock, in the hands of institutional investors. The top three institutional holders of BDTX stocks are: BELLEVUE GROUP AG with ownership of 3,463,000, which is approximately 0% of the company’s market cap and around 0.40% of the total institutional ownership; NEA MANAGEMENT COMPANY, LLC, holding 3,449,845 shares of the stock with an approximate value of $17.59 million in BDTX stocks shares; and RA CAPITAL MANAGEMENT, L.P., currently with $13.21 million in BDTX stock with ownership of nearly 0% of the company’s market capitalization.

Positions in Black Diamond Therapeutics Inc. stocks held by institutional investors increased at the end of March and at the time of the March reporting period, where 34 institutional holders increased their position in Black Diamond Therapeutics Inc. [NASDAQ:BDTX] by around 1,096,926 shares. Additionally, 50 investors decreased positions by around 2,202,996 shares, while 27 investors held positions by with 20,911,579 shares. The mentioned changes placed institutional holdings at 24,211,501 shares, according to the latest SEC report filing. BDTX stock had 12 new institutional investments in for a total of 504,534 shares, while 13 institutional investors sold positions of 206,400 shares during the same period.