Black Diamond Therapeutics, Inc. (NASDAQ:BDTX) Shares Bought by Vestal Point Capital LP

Vestal Point Capital LP raised its stake in Black Diamond Therapeutics, Inc. (NASDAQ:BDTX) by 11.4% during the fourth quarter, Holdings Channel.com reports. The firm owned 5,600,000 shares of the company’s stock after purchasing an additional 571,500 shares during the quarter. Vestal Point Capital LP owned 0.10% of Black Diamond Therapeutics worth $11,984,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. Squarepoint Ops LLC raised its position in Black Diamond Therapeutics by 122.8% in the 4th quarter. Squarepoint Ops LLC now owns 131,874 shares of the company’s stock valued at $282,000 after purchasing an additional 72,688 shares in the last quarter. Tang Capital Management LLC raised its position in Black Diamond Therapeutics by 51.1% in the 4th quarter. Tang Capital Management LLC now owns 2,070,209 shares of the company’s stock valued at $4,430,000 after purchasing an additional 700,000 shares in the last quarter. Nuveen Asset Management LLC raised its position in shares of Black Diamond Therapeutics by 12.8% during the 4th 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. Millennium Management LLC raised its position in shares of Black Diamond Therapeutics by 503.0% during the 4th 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. Finally, D. E. Shaw & Co. Inc. acquired a new stake in shares of Black Diamond Therapeutics during the 4th quarter worth about $37,000. Institutional investors and hedge funds own 95.47% of the company’s stock.

Insider Buying and Selling

In related news, major shareholder Growth N. V. Biotech sold 5,784,292 shares of Black Diamond Therapeutics stock in a transaction 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 transaction, the insider now directly owns 2,733,547 shares of the company’s stock, valued at approximately $5,658,442.29. The trade was a 67.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 8.87% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

BDTX has been the topic of a number of research reports. HC Wainwright raised their price target on Black Diamond Therapeutics from $11.00 to $12.00 and gave the stock a “buy” rating in a research note on Tuesday, March 18th. Wedbush restated an “outperform” rating and set a $11.00 price target on shares of Black Diamond Therapeutics in a research note on Wednesday, March 19th. Finally, Stifel Nicolaus dropped their price target on Black Diamond Therapeutics from $16.00 to $15.00 and set a “buy” rating on the stock in a research note on Friday, March 7th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $14.60.

Black Diamond Therapeutics Price Performance

Black Diamond Therapeutics stock opened at $1.95 on Monday. Black Diamond Therapeutics, Inc. has a 1-year low of $1.20 and a 1-year high of $6.75. The company has a market cap of $110.88 million, a PE ratio of -1.47 and a beta of 2.63. The stock’s 50 day moving average price is $1.60 and its 200 day moving average price is $2.11.

Black Diamond Therapeutics (NASDAQ:BDTX) last issued its quarterly earnings data on Thursday, March 6th. The company reported ($0.28) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.31) by $0.03. On average, equities research analysts anticipate that Black Diamond Therapeutics, Inc. 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.