Insider Selling: Black Diamond Therapeutics, Inc. (NASDAQ:BDTX) Major Shareholder Sells $11,973,484.44 in Stock

Black Diamond Therapeutics, Inc. (NASDAQ:BDTX) major shareholder Growth N. V. Biotech sold 5,784,292 shares of the business’s stock in a transaction that occurred on Wednesday, March 19th. The shares were 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 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Black Diamond Therapeutics Trading Down 5.3 %

Shares of BDTX stock opened at $1.78 on Friday. The company’s fifty day simple moving average is $2.16 and its 200-day simple moving average is $2.87. Black Diamond Therapeutics, Inc. has a 52 week low of $1.59 and a 52 week high of $7.66. The company has a market cap of $100.86 million, a PE ratio of -1.34 and a beta of 2.52.

Black Diamond Therapeutics (NASDAQ:BDTX) last released its quarterly earnings data on Thursday, March 6th. The company reported ($0.28) EPS for the quarter, beating the consensus estimate of ($0.31) by $0.03. Equities research analysts expect that Black Diamond Therapeutics, Inc. will post -1.3 EPS for the current fiscal year.

Hedge Funds Weigh In On Black Diamond Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Vestal Point Capital LP raised its stake in shares of Black Diamond Therapeutics by 11.4% during the fourth quarter. Vestal Point Capital LP now owns 5,600,000 shares of the company’s stock valued at $11,984,000 after purchasing an additional 571,500 shares during the period. Squarepoint Ops LLC lifted its holdings in Black Diamond Therapeutics by 122.8% in the 4th quarter. Squarepoint Ops LLC now owns 131,874 shares of the company’s stock worth $282,000 after buying an additional 72,688 shares in the last quarter. Tang Capital Management LLC boosted 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 buying an additional 700,000 shares during the last quarter. Nuveen Asset Management LLC grew its stake in shares of Black Diamond Therapeutics by 12.8% during the fourth quarter. Nuveen Asset Management LLC now owns 201,535 shares of the company’s stock valued at $431,000 after acquiring an additional 22,802 shares in the last quarter. Finally, Millennium Management LLC increased its position in shares of Black Diamond Therapeutics by 503.0% during 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 during the last quarter. Hedge funds and other institutional investors own 95.47% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on BDTX shares. Wedbush reissued an “outperform” rating and set a $11.00 price objective on shares of Black Diamond Therapeutics in a research note on Wednesday. HC Wainwright boosted their price target on Black Diamond Therapeutics from $11.00 to $12.00 and gave the company a “buy” rating in a research report on Tuesday, March 18th. Finally, Stifel Nicolaus cut their price objective on Black Diamond Therapeutics from $16.00 to $15.00 and set a “buy” rating on the stock in a report on Friday, March 7th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $14.60.

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.