Black Diamond Therapeutics (BDTX) Soars 4.74% on Promising Phase 2 Data

Black Diamond Therapeutics (BDTX) shares surged 4.74% today, marking the fourth consecutive day of gains, with a cumulative increase of 14.80% over the past four days. The stock price reached its highest level since November 2024, with an intraday gain of 5.11%.

The strategy of buying BDTX shares after they reach a recent high and selling them one week later resulted in a -25.53% return over the past five years. The strategy had a maximum drawdown of 0.00% and a Sharpe ratio of -0.10, indicating a low risk but poor return compared to the benchmark, which had a return of -100.00%.

Analysts have given Black Diamond Therapeutics a consensus rating of "Buy" as of July 11, 2025. This positive rating could boost investor confidence and drive the stock price higher. The company's recent announcement of promising Phase 2 data for its oral treatment BDTX-1535 has also contributed to the bullish sentiment. The data showed that a 200 mg daily dose was well-tolerated, which could enhance the company's valuation and attract more investors.

Additionally, Raymond James initiated coverage of Black Diamond Therapeutics with a "Buy" rating and set a target price of $11. This move by Raymond James could further stimulate interest in the stock and influence its price trajectory. The combination of positive analyst ratings, promising clinical data, and new coverage from a reputable firm has created a favorable environment for BDTX's stock price to continue its upward trend.