Marathon Trading Investment Management LLC Reduces Position in Black Diamond Therapeutics, Inc. (NASDAQ:BDTX)

Marathon Trading Investment Management LLC cut its position in Black Diamond Therapeutics, Inc. (NASDAQ:BDTX) by 79.8% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 19,116 shares of the company’s stock after selling 75,284 shares during the period. Marathon Trading Investment Management LLC’s holdings in Black Diamond Therapeutics were worth $89,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the company. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Black Diamond Therapeutics in the 1st quarter valued at approximately $82,000. Foundations Investment Advisors LLC boosted its holdings in shares of Black Diamond Therapeutics by 17.7% in the 2nd quarter. Foundations Investment Advisors LLC now owns 113,550 shares of the company’s stock valued at $529,000 after buying an additional 17,050 shares in the last quarter. Acadian Asset Management LLC boosted its holdings in shares of Black Diamond Therapeutics by 13.8% in the 1st quarter. Acadian Asset Management LLC now owns 170,510 shares of the company’s stock valued at $864,000 after buying an additional 20,616 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of Black Diamond Therapeutics in the 2nd quarter valued at $108,000. Finally, Jump Financial LLC boosted its holdings in shares of Black Diamond Therapeutics by 245.0% in the 4th quarter. Jump Financial LLC now owns 38,888 shares of the company’s stock valued at $109,000 after buying an additional 27,616 shares in the last quarter. 95.47% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. HC Wainwright restated a “buy” rating and issued a $11.00 target price on shares of Black Diamond Therapeutics in a report on Wednesday. Piper Sandler restated an “overweight” rating and issued a $12.00 target price on shares of Black Diamond Therapeutics in a report on Wednesday, July 3rd. Raymond James initiated coverage on shares of Black Diamond Therapeutics in a research note on Wednesday, July 31st. They set an “outperform” rating and a $20.00 price target for the company. Finally, Wedbush reiterated an “outperform” rating and set a $16.00 price target on shares of Black Diamond Therapeutics in a research note on Tuesday, September 10th.

Black Diamond Therapeutics Price Performance

Shares of NASDAQ:BDTX opened at $4.73 on Thursday. The stock has a market cap of $266.08 million, a P/E ratio of -2.85 and a beta of 2.49. The firm has a fifty day moving average price of $5.72 and a 200 day moving average price of $5.35. Black Diamond Therapeutics, Inc. has a 1-year low of $1.62 and a 1-year high of $7.66.

Black Diamond Therapeutics (NASDAQ:BDTX) last issued its quarterly earnings results on Tuesday, August 6th. The company reported ($0.36) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.39) by $0.03. Sell-side analysts expect that Black Diamond Therapeutics, Inc. will post -1.4 EPS for the current fiscal year.

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.