Geode Capital Management LLC Raises Holdings in Black Diamond Therapeutics, Inc. (NASDAQ:BDTX)

Geode Capital Management LLC grew its position in Black Diamond Therapeutics, Inc. (NASDAQ:BDTX) by 12.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 944,877 shares of the company’s stock after acquiring an additional 102,445 shares during the quarter. Geode Capital Management LLC owned 1.67% of Black Diamond Therapeutics worth $4,111,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Barclays PLC lifted its stake in shares of Black Diamond Therapeutics by 201.9% in the 3rd quarter. Barclays PLC now owns 78,151 shares of the company’s stock valued at $339,000 after purchasing an additional 52,265 shares during the last quarter. Wellington Management Group LLP grew its holdings in Black Diamond Therapeutics by 12.8% during the 3rd quarter. Wellington Management Group LLP now owns 204,957 shares of the company’s stock valued at $892,000 after purchasing an additional 23,282 shares during the last quarter. State Street Corp raised its position in Black Diamond Therapeutics by 17.2% in the 3rd quarter. State Street Corp now owns 809,196 shares of the company’s stock worth $3,520,000 after purchasing an additional 118,764 shares during the period. Point72 Asset Management L.P. bought a new stake in Black Diamond Therapeutics in the third quarter worth about $3,032,000. Finally, Vestal Point Capital LP lifted its stake in Black Diamond Therapeutics by 139.5% in the third quarter. Vestal Point Capital LP now owns 5,028,500 shares of the company’s stock worth $21,874,000 after purchasing an additional 2,928,500 shares during the last quarter. 95.47% of the stock is owned by hedge funds and other institutional investors.

Black Diamond Therapeutics Price Performance

Shares of BDTX stock opened at $2.20 on Monday. The stock’s 50-day moving average is $2.58 and its 200 day moving average is $4.14. Black Diamond Therapeutics, Inc. has a 1-year low of $2.08 and a 1-year high of $7.66. The company has a market cap of $124.49 million, a P/E ratio of -1.65 and a beta of 2.49.

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

Analyst Upgrades and Downgrades

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

Black Diamond Therapeutics 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.