Short Interest in Black Diamond Therapeutics, Inc. (NASDAQ:BDTX) Decreases By 6.2%

Black Diamond Therapeutics, Inc. (NASDAQ:BDTX) was the target of a significant decline in short interest during the month of November. As of November 15th, there was short interest totalling 5,940,000 shares, a decline of 6.2% from the October 31st total of 6,330,000 shares. Based on an average daily trading volume, of 1,180,000 shares, the short-interest ratio is currently 5.0 days.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on BDTX shares. HC Wainwright reissued a “buy” rating and set a $11.00 price target on shares of Black Diamond Therapeutics in a research note on Wednesday, November 6th. Wedbush reissued an “outperform” rating and issued a $16.00 price target on shares of Black Diamond Therapeutics in a research note on Tuesday, October 8th. Finally, Piper Sandler upped their price objective on shares of Black Diamond Therapeutics from $12.00 to $15.00 and gave the company an “overweight” rating in a research note on Monday, September 23rd.

Institutional Trading of Black Diamond Therapeutics

Several large investors have recently modified their holdings of the business. Walleye Capital LLC purchased a new position in Black Diamond Therapeutics in the third quarter valued at about $49,000. Intech Investment Management LLC acquired a new position in shares of Black Diamond Therapeutics in the 3rd quarter valued at approximately $56,000. Vontobel Holding Ltd. purchased a new position in shares of Black Diamond Therapeutics during the 3rd quarter valued at approximately $68,000. MetLife Investment Management LLC grew its stake in Black Diamond Therapeutics by 129.1% in the third quarter. MetLife Investment Management LLC now owns 22,286 shares of the company’s stock worth $97,000 after purchasing an additional 12,557 shares in the last quarter. Finally, SG Americas Securities LLC bought a new stake in shares of Black Diamond Therapeutics in the 2nd quarter valued at approximately $108,000. 95.47% of the stock is currently owned by institutional investors and hedge funds.

Black Diamond Therapeutics Stock Performance

Shares of NASDAQ:BDTX traded down $0.05 during midday trading on Monday, hitting $2.60. 491,701 shares of the company’s stock traded hands, compared to its average volume of 795,031. Black Diamond Therapeutics has a twelve month low of $2.23 and a twelve month high of $7.66. The firm’s fifty day moving average price is $3.25 and its two-hundred day moving average price is $4.62. The company has a market cap of $147.12 million, a PE ratio of -1.99 and a beta of 2.51.

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

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.