Black Diamond Therapeutics, Inc. (NASDAQ:BDTX) Sees Large Growth in Short Interest

Black Diamond Therapeutics, Inc. (NASDAQ:BDTX) was the recipient of a large increase in short interest during the month of August. As of August 15th, there was short interest totalling 6,010,000 shares, an increase of 35.4% from the July 31st total of 4,440,000 shares. Based on an average daily volume of 637,100 shares, the days-to-cover ratio is presently 9.4 days.

Institutional Investors Weigh In On Black Diamond Therapeutics

Large investors have recently modified their holdings of the stock. Jump Financial LLC grew its stake in Black Diamond Therapeutics by 245.0% in the fourth quarter. Jump Financial LLC now owns 38,888 shares of the company’s stock valued at $109,000 after purchasing an additional 27,616 shares in the last quarter. Pale Fire Capital SE bought a new stake in shares of Black Diamond Therapeutics in the 4th quarter worth approximately $144,000. Bellevue Group AG raised its stake in shares of Black Diamond Therapeutics by 4.9% in the 4th quarter. Bellevue Group AG now owns 8,535,839 shares of the company’s stock valued at $23,986,000 after buying an additional 400,000 shares in the last quarter. Susquehanna Fundamental Investments LLC bought a new position in Black Diamond Therapeutics during the first quarter worth about $82,000. Finally, Acadian Asset Management LLC grew its position in Black Diamond Therapeutics by 13.8% in the first quarter. Acadian Asset Management LLC now owns 170,510 shares of the company’s stock valued at $864,000 after acquiring an additional 20,616 shares during the period. 95.47% of the stock is owned by institutional investors.

Black Diamond Therapeutics Stock Down 0.2 %

Shares of Black Diamond Therapeutics stock traded down $0.01 during trading hours on Friday, hitting $6.10. 1,083,844 shares of the company’s stock traded hands, compared to its average volume of 647,170. The company has a market cap of $343.14 million, a PE ratio of -3.49 and a beta of 2.49. The stock has a 50 day simple moving average of $5.44 and a 200-day simple moving average of $5.26. Black Diamond Therapeutics has a twelve month low of $1.62 and a twelve month high of $7.66.

Black Diamond Therapeutics (NASDAQ:BDTX) last announced its quarterly earnings results on Tuesday, August 6th. The company reported ($0.36) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.39) by $0.03. As a group, equities research analysts predict that Black Diamond Therapeutics will post -1.43 EPS for the current year.

Analyst Ratings Changes

A number of research firms have recently issued reports on BDTX. Raymond James assumed coverage on shares of Black Diamond Therapeutics in a research note on Wednesday, July 31st. They issued an “outperform” rating and a $20.00 price target on the stock. HC Wainwright reissued a “buy” rating and issued a $11.00 price target on shares of Black Diamond Therapeutics in a research report on Friday, June 7th. Wedbush reaffirmed an “outperform” rating and issued a $16.00 target price on shares of Black Diamond Therapeutics in a report on Wednesday, August 7th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $12.00 price objective on shares of Black Diamond Therapeutics in a research note on Wednesday, July 3rd.

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.