Traders Purchase High Volume of Put Options on Black Diamond Therapeutics (NASDAQ:BDTX)

Black Diamond Therapeutics, Inc. (NASDAQ:BDTX) saw unusually large options trading on Monday. Traders bought 4,719 put options on the company. This is an increase of approximately 355% compared to the average volume of 1,037 put options.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Susquehanna Fundamental Investments LLC bought a new position in shares of Black Diamond Therapeutics during the 1st quarter valued at about $82,000. SG Americas Securities LLC bought a new position in shares of Black Diamond Therapeutics during the 2nd quarter valued at about $108,000. Jump Financial LLC lifted its holdings in shares of Black Diamond Therapeutics by 245.0% during the 4th 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. Algert Global LLC bought a new position in shares of Black Diamond Therapeutics during the 2nd quarter valued at about $133,000. Finally, Pale Fire Capital SE bought a new stake in Black Diamond Therapeutics in the 4th quarter valued at approximately $144,000. 95.47% of the stock is owned by institutional investors and hedge funds.

Black Diamond Therapeutics Trading Up 1.8 %

NASDAQ BDTX opened at $4.58 on Wednesday. The stock has a 50-day simple moving average of $5.63 and a 200 day simple moving average of $5.36. The company has a market capitalization of $257.64 million, a PE ratio of -2.76 and a beta of 2.49. Black Diamond Therapeutics has a 12 month low of $1.62 and a 12 month high of $7.66.

Black Diamond Therapeutics (NASDAQ:BDTX) last released its quarterly earnings data on Tuesday, August 6th. The company reported ($0.36) EPS for the quarter, beating analysts’ consensus estimates of ($0.39) by $0.03. As a group, sell-side analysts predict that Black Diamond Therapeutics will post -1.4 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Piper Sandler upped their price target on Black Diamond Therapeutics from $12.00 to $15.00 and gave the company an “overweight” rating in a research note on Monday. HC Wainwright reaffirmed a “buy” rating and set a $11.00 price target on shares of Black Diamond Therapeutics in a research note on Tuesday. Raymond James assumed coverage on Black Diamond Therapeutics in a research note on Wednesday, July 31st. They set an “outperform” rating and a $20.00 price target on the stock. Finally, Wedbush reaffirmed an “outperform” rating and set a $16.00 price target on shares of Black Diamond Therapeutics in a research note on Tuesday, September 10th.

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.