Black Diamond Therapeutics, Inc. (NASDAQ:BDTX) Short Interest Up 17.8% in January

Black Diamond Therapeutics, Inc. (NASDAQ:BDTX) was the recipient of a large increase in short interest in January. As of January 15th, there was short interest totalling 7,490,000 shares, an increase of 17.8% from the December 31st total of 6,360,000 shares. Based on an average daily trading volume, of 769,500 shares, the days-to-cover ratio is currently 9.7 days.

Analysts Set New Price Targets

A number of research analysts have issued reports on BDTX shares. HC Wainwright restated a “buy” rating and issued a $11.00 target price on shares of Black Diamond Therapeutics in a report on Wednesday, November 6th. Wedbush restated an “outperform” rating and issued a $16.00 target price on shares of Black Diamond Therapeutics in a report on Tuesday, October 8th.

Hedge Funds Weigh In On Black Diamond Therapeutics

Large investors have recently bought and sold shares of the business. Vestal Point Capital LP lifted its holdings in shares of Black Diamond Therapeutics by 139.5% in the 3rd quarter. Vestal Point Capital LP now owns 5,028,500 shares of the company’s stock worth $21,874,000 after purchasing an additional 2,928,500 shares during the last quarter. Point72 Asset Management L.P. bought a new position in shares of Black Diamond Therapeutics during the third quarter worth about $3,032,000. FMR LLC acquired a new stake in shares of Black Diamond Therapeutics in the 3rd quarter worth about $779,000. State Street Corp lifted its position in Black Diamond Therapeutics by 17.2% in the 3rd quarter. State Street Corp now owns 809,196 shares of the company’s stock valued at $3,520,000 after purchasing an additional 118,764 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in Black Diamond Therapeutics by 12.2% in the 3rd quarter. Geode Capital Management LLC now owns 944,877 shares of the company’s stock worth $4,111,000 after buying an additional 102,445 shares in the last quarter. Institutional investors own 95.47% of the company’s stock.

Black Diamond Therapeutics Stock Performance

Shares of BDTX stock traded down $0.17 during trading hours on Monday, reaching $2.45. The company had a trading volume of 1,044,971 shares, compared to its average volume of 1,326,878. The company has a market capitalization of $138.63 million, a P/E ratio of -1.84 and a beta of 2.49. Black Diamond Therapeutics has a twelve month low of $1.91 and a twelve month high of $7.66. The stock’s fifty day simple moving average is $2.34 and its 200 day simple moving average is $3.76.

Black Diamond Therapeutics (NASDAQ:BDTX) last issued its quarterly earnings results on Tuesday, November 5th. The company reported ($0.28) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.37) by $0.09. As a group, equities analysts expect that Black Diamond Therapeutics will post -1.3 earnings per share for the current year.

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.