Black Diamond Therapeutics, Inc. (NASDAQ:BDTX) Short Interest Down 13.5% in October

Black Diamond Therapeutics, Inc. (NASDAQ:BDTX) was the recipient of a significant decrease in short interest in October. As of October 31st, there was short interest totalling 6,330,000 shares, a decrease of 13.5% from the October 15th total of 7,320,000 shares. Based on an average daily trading volume, of 1,210,000 shares, the short-interest ratio is currently 5.2 days.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on BDTX shares. HC Wainwright reaffirmed a “buy” rating and issued a $11.00 target price on shares of Black Diamond Therapeutics in a report on Wednesday, November 6th. Piper Sandler raised their price objective on Black Diamond Therapeutics from $12.00 to $15.00 and gave the company an “overweight” rating in a research note on Monday, September 23rd. Wedbush reissued an “outperform” rating and set a $16.00 target price on shares of Black Diamond Therapeutics in a research note on Tuesday, October 8th. Finally, Raymond James assumed coverage on shares of Black Diamond Therapeutics in a research note on Wednesday, July 31st. They issued an “outperform” rating and a $20.00 price target on the stock.

Black Diamond Therapeutics Stock Performance

Shares of Black Diamond Therapeutics stock opened at $2.62 on Friday. The stock has a market capitalization of $148.24 million, a PE ratio of -1.97 and a beta of 2.51. Black Diamond Therapeutics has a 52 week low of $2.09 and a 52 week high of $7.66. The stock has a 50 day moving average price of $3.83 and a two-hundred day moving average price of $4.92.

Black Diamond Therapeutics (NASDAQ:BDTX) last announced its quarterly earnings results on Tuesday, November 5th. The company reported ($0.28) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.37) by $0.09. Research analysts forecast that Black Diamond Therapeutics will post -1.3 EPS for the current year.

Institutional Trading of Black Diamond Therapeutics

A number of institutional investors have recently added to or reduced their stakes in BDTX. Walleye Capital LLC bought a new position in shares of Black Diamond Therapeutics in the third quarter valued at approximately $49,000. Intech Investment Management LLC bought a new position in Black Diamond Therapeutics in the 3rd quarter valued at $56,000. Vontobel Holding Ltd. purchased a new position in shares of Black Diamond Therapeutics during the 3rd quarter valued at $68,000. MetLife Investment Management LLC increased its holdings in shares of 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 during the period. Finally, SG Americas Securities LLC purchased a new position in Black Diamond Therapeutics during the second quarter worth about $108,000. Hedge funds and other institutional investors own 95.47% of the company’s stock.

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.