Growth N. V. Biotech Sells 5,784,292 Shares of Black Diamond Therapeutics, Inc. (NASDAQ:BDTX) Stock

Black Diamond Therapeutics, Inc. (NASDAQ:BDTX) major shareholder Growth N. V. Biotech sold 5,784,292 shares of Black Diamond Therapeutics stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $2.07, for a total transaction of $11,973,484.44. Following the completion of the sale, the insider now directly owns 2,733,547 shares in the company, valued at $5,658,442.29. This trade represents a 67.91 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Black Diamond Therapeutics Stock Performance

BDTX stock traded up $0.16 during midday trading on Thursday, reaching $1.88. 22,138,170 shares of the company’s stock traded hands, compared to its average volume of 1,354,593. The company has a 50-day moving average price of $2.17 and a two-hundred day moving average price of $2.93. Black Diamond Therapeutics, Inc. has a 52 week low of $1.59 and a 52 week high of $7.66. The firm has a market capitalization of $106.52 million, a PE ratio of -1.41 and a beta of 2.52.

Black Diamond Therapeutics (NASDAQ:BDTX) last released its quarterly earnings results on Thursday, March 6th. The company reported ($0.28) earnings per share for the quarter, topping the consensus estimate of ($0.31) by $0.03. As a group, analysts predict that Black Diamond Therapeutics, Inc. will post -1.3 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Vestal Point Capital LP increased its holdings in shares of Black Diamond Therapeutics by 11.4% in the fourth quarter. Vestal Point Capital LP now owns 5,600,000 shares of the company’s stock worth $11,984,000 after purchasing an additional 571,500 shares during the period. Squarepoint Ops LLC increased its holdings in shares of Black Diamond Therapeutics by 122.8% in the fourth quarter. Squarepoint Ops LLC now owns 131,874 shares of the company’s stock worth $282,000 after purchasing an additional 72,688 shares during the period. Tang Capital Management LLC grew its position in Black Diamond Therapeutics by 51.1% in the fourth quarter. Tang Capital Management LLC now owns 2,070,209 shares of the company’s stock worth $4,430,000 after acquiring an additional 700,000 shares in the last quarter. Nuveen Asset Management LLC grew its position in Black Diamond Therapeutics by 12.8% in the fourth quarter. Nuveen Asset Management LLC now owns 201,535 shares of the company’s stock worth $431,000 after acquiring an additional 22,802 shares in the last quarter. Finally, Millennium Management LLC grew its position in Black Diamond Therapeutics by 503.0% in the fourth quarter. Millennium Management LLC now owns 558,076 shares of the company’s stock worth $1,194,000 after acquiring an additional 465,531 shares in the last quarter. Institutional investors own 95.47% of the company’s stock.

Wall Street Analysts Forecast Growth

BDTX has been the topic of a number of research reports. Stifel Nicolaus lowered their price target 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. HC Wainwright lifted their price target on shares of Black Diamond Therapeutics from $11.00 to $12.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, Wedbush reaffirmed an “outperform” rating and issued a $11.00 price target on shares of Black Diamond Therapeutics in a report on Wednesday. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $14.60.

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.