Black Diamond Therapeutics, Inc. (NASDAQ:BDTX) Short Interest Up 42.0% in March

Black Diamond Therapeutics, Inc. (NASDAQ:BDTX) was the target of a significant increase in short interest during the month of March. As of March 31st, there was short interest totalling 10,170,000 shares, an increase of 42.0% from the March 15th total of 7,160,000 shares. Based on an average daily volume of 3,290,000 shares, the short-interest ratio is currently 3.1 days. Approximately 19.7% of the shares of the company are short sold.

Insider Activity at Black Diamond Therapeutics

In related news, major shareholder Growth N. V. Biotech sold 5,784,292 shares of the business’s stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $2.07, for a total value of $11,973,484.44. Following the sale, the insider now directly owns 2,733,547 shares in the company, valued at approximately $5,658,442.29. The trade was a 67.91 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 8.87% of the stock is owned by company insiders.

Institutional Investors Weigh In On Black Diamond Therapeutics

Several institutional investors have recently bought and sold shares of BDTX. D. E. Shaw & Co. Inc. bought a new stake in Black Diamond Therapeutics in the fourth quarter valued at approximately $37,000. Intech Investment Management LLC increased its stake in shares of Black Diamond Therapeutics by 49.1% in the fourth quarter. Intech Investment Management LLC now owns 19,247 shares of the company’s stock worth $41,000 after buying an additional 6,340 shares during the period. JPMorgan Chase & Co. boosted its position in Black Diamond Therapeutics by 429.6% during the 4th quarter. JPMorgan Chase & Co. now owns 18,929 shares of the company’s stock valued at $41,000 after buying an additional 15,355 shares during the period. SG Americas Securities LLC bought a new stake in Black Diamond Therapeutics in the 4th quarter worth $42,000. Finally, Wells Fargo & Company MN increased its position in shares of Black Diamond Therapeutics by 41.8% in the fourth quarter. Wells Fargo & Company MN now owns 20,119 shares of the company’s stock valued at $43,000 after acquiring an additional 5,932 shares during the period. 95.47% of the stock is currently owned by hedge funds and other institutional investors.

Black Diamond Therapeutics Stock Performance

BDTX stock opened at $1.44 on Friday. The company has a market capitalization of $81.59 million, a PE ratio of -1.08 and a beta of 2.81. Black Diamond Therapeutics has a one year low of $1.20 and a one year high of $7.66. The company’s 50 day moving average price is $1.77 and its two-hundred day moving average price is $2.37.

Black Diamond Therapeutics (NASDAQ:BDTX) last issued its earnings results on Thursday, March 6th. The company reported ($0.28) EPS for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.03. On average, research analysts predict that Black Diamond Therapeutics will post -1.3 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on BDTX shares. Wedbush reaffirmed an “outperform” rating and issued a $11.00 target price on shares of Black Diamond Therapeutics in a research note on Wednesday, March 19th. Stifel Nicolaus dropped their price objective on shares of Black Diamond Therapeutics from $16.00 to $15.00 and set a “buy” rating for the company in a report on Friday, March 7th. Finally, HC Wainwright increased their target price on Black Diamond Therapeutics from $11.00 to $12.00 and gave the company a “buy” rating in a research note on Tuesday, March 18th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Black Diamond Therapeutics currently has a consensus rating of “Buy” and a consensus target price of $14.60.

Black Diamond Therapeutics Company Profile

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.