Short Interest in Black Diamond Therapeutics, Inc. (NASDAQ:BDTX) Rises By 12.7%

Black Diamond Therapeutics, Inc. (NASDAQ:BDTX) was the recipient of a large increase in short interest during the month of March. As of March 31st, there was short interest totalling 2,040,000 shares, an increase of 12.7% from the March 15th total of 1,810,000 shares. Based on an average daily trading volume, of 592,500 shares, the days-to-cover ratio is presently 3.4 days.

Analyst Ratings Changes

Several equities research analysts recently weighed in on BDTX shares. Wedbush lifted their price target on Black Diamond Therapeutics from $10.00 to $16.00 and gave the company an “outperform” rating in a research report on Monday, April 8th. HC Wainwright restated a “buy” rating and set a $12.00 price target (up from $11.00) on shares of Black Diamond Therapeutics in a research report on Monday, March 18th.

Black Diamond Therapeutics Stock Performance

Shares of NASDAQ BDTX traded up $0.17 during mid-day trading on Tuesday, hitting $5.39. 190,002 shares of the stock traded hands, compared to its average volume of 567,479. The stock has a fifty day moving average price of $4.78 and a 200-day moving average price of $3.34. Black Diamond Therapeutics has a 52 week low of $1.43 and a 52 week high of $6.85. The company has a market cap of $278.76 million, a price-to-earnings ratio of -2.80 and a beta of 2.64.

Black Diamond Therapeutics (NASDAQ:BDTX) last released its earnings results on Tuesday, March 12th. The company reported ($0.34) EPS for the quarter, topping the consensus estimate of ($0.47) by $0.13. As a group, sell-side analysts predict that Black Diamond Therapeutics will post -1.71 EPS for the current fiscal year.

Institutional Investors Weigh In On Black Diamond Therapeutics

Several hedge funds have recently added to or reduced their stakes in the stock. Bellevue Group AG boosted its holdings in Black Diamond Therapeutics by 4.9% in the fourth quarter. Bellevue Group AG now owns 8,535,839 shares of the company’s stock worth $23,986,000 after acquiring an additional 400,000 shares in the last quarter. BlackRock Inc. raised its stake in shares of Black Diamond Therapeutics by 3.6% in the first quarter. BlackRock Inc. now owns 2,329,164 shares of the company’s stock worth $6,452,000 after purchasing an additional 80,697 shares during the last quarter. Point72 Asset Management L.P. purchased a new position in shares of Black Diamond Therapeutics in the second quarter worth $10,100,000. Vanguard Group Inc. raised its stake in shares of Black Diamond Therapeutics by 32.6% in the third quarter. Vanguard Group Inc. now owns 1,963,583 shares of the company’s stock worth $5,635,000 after purchasing an additional 482,198 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of Black Diamond Therapeutics by 195,562.9% in the second quarter. JPMorgan Chase & Co. now owns 1,080,059 shares of the company’s stock worth $5,454,000 after purchasing an additional 1,079,507 shares during the last quarter. 95.47% of the stock is owned by institutional investors.

About Black Diamond Therapeutics

Black Diamond Therapeutics, Inc, a clinical-stage precision oncology medicine company, focuses on the discovery and development of therapies for patients with genetically defined cancers. The company's lead product candidate, BDTX-1535, a brain-penetrant, mutant selective, irreversible EGFR MasterKey inhibitor, designed to inhibit a family of oncogenic mutations, currently under Phase 1 clinical trial.