Black Diamond Therapeutics Sees Unusually High Options Volume (NASDAQ:BDTX)

Black Diamond Therapeutics, Inc. (NASDAQ:BDTX) saw some unusual options trading activity on Wednesday. Stock investors purchased 1,853 call options on the stock. This is an increase of 1,419% compared to the typical daily volume of 122 call options.

Analyst Ratings Changes

BDTX has been the topic of several research reports. HC Wainwright lifted their price objective on shares of Black Diamond Therapeutics from $11.00 to $12.00 and gave the company a “buy” rating in a report on Tuesday. Wedbush reissued an “outperform” rating and set a $11.00 price objective on shares of Black Diamond Therapeutics in a report on Wednesday. Finally, Stifel Nicolaus cut their price objective on shares of Black Diamond Therapeutics from $16.00 to $15.00 and set a “buy” rating on the stock in a report on Friday, March 7th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $14.60.

Black Diamond Therapeutics Stock Up 2.4 %

Shares of BDTX opened at $1.72 on Thursday. The company has a market cap of $97.46 million, a price-to-earnings ratio of -1.29 and a beta of 2.52. Black Diamond Therapeutics has a twelve month low of $1.59 and a twelve month high of $7.66. The company has a 50 day moving average of $2.17 and a two-hundred day moving average of $2.93.

Black Diamond Therapeutics (NASDAQ:BDTX) last announced its earnings results on Thursday, March 6th. The company reported ($0.28) earnings per share for the quarter, beating the consensus estimate of ($0.31) by $0.03. On average, sell-side analysts expect that Black Diamond Therapeutics will post -1.3 EPS for the current year.

Institutional Investors Weigh In On Black Diamond Therapeutics

Several institutional investors have recently bought and sold shares of the company. Intech Investment Management LLC acquired a new stake in shares of Black Diamond Therapeutics during the third quarter worth $56,000. Charles Schwab Investment Management Inc. lifted its stake in shares of Black Diamond Therapeutics by 6.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 109,224 shares of the company’s stock worth $475,000 after buying an additional 7,021 shares during the period. FMR LLC acquired a new stake in shares of Black Diamond Therapeutics during the third quarter worth $779,000. MetLife Investment Management LLC lifted its stake in shares of Black Diamond Therapeutics by 129.1% during the third quarter. MetLife Investment Management LLC now owns 22,286 shares of the company’s stock worth $97,000 after buying an additional 12,557 shares during the period. Finally, Walleye Capital LLC acquired a new stake in shares of Black Diamond Therapeutics during the third quarter worth $49,000. 95.47% of the stock is currently owned by institutional investors and hedge funds.

About Black Diamond Therapeutics

Black Diamond Therapeutics, Inc, a clinical-stage oncology medicine company, focuses on the discovery and development of MasterKey therapies for patients with genetically defined tumors. The company's lead product candidate is BDTX-1535, a brain-penetrant epidermal growth factor receptor MasterKey inhibitor, which is in phase 2 clinical trial for the treatment of epidermal growth factor receptor mutant non-small cell lung cancer, as well as phase 1 clinical trial to treat glioblastoma.