Black Diamond Therapeutics, Inc. (NASDAQ:BDTX) Sees Significant Decline in Short Interest

Black Diamond Therapeutics, Inc. (NASDAQ:BDTX) was the target of a large drop in short interest in January. As of January 31st, there was short interest totalling 7,050,000 shares, a drop of 5.9% from the January 15th total of 7,490,000 shares. Based on an average trading volume of 761,200 shares, the days-to-cover ratio is presently 9.3 days.

Analysts Set New Price Targets

Separately, HC Wainwright reissued a “buy” rating and set a $11.00 target price on shares of Black Diamond Therapeutics in a research report on Wednesday, November 6th.

Institutional Investors Weigh In On Black Diamond Therapeutics

Several large investors have recently modified their holdings of the stock. Vestal Point Capital LP grew its stake in Black Diamond Therapeutics by 139.5% in the 3rd quarter. Vestal Point Capital LP now owns 5,028,500 shares of the company’s stock valued at $21,874,000 after buying an additional 2,928,500 shares in the last quarter. Point72 Asset Management L.P. purchased a new position in Black Diamond Therapeutics in the 3rd quarter valued at approximately $3,032,000. FMR LLC purchased a new position in Black Diamond Therapeutics in the 3rd quarter valued at approximately $779,000. Barclays PLC grew its stake in 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 buying an additional 52,265 shares in the last quarter. Finally, State Street Corp grew its stake in Black Diamond Therapeutics by 17.2% in the 3rd quarter. State Street Corp now owns 809,196 shares of the company’s stock valued at $3,520,000 after buying an additional 118,764 shares in the last quarter. Hedge funds and other institutional investors own 95.47% of the company’s stock.

Black Diamond Therapeutics Stock Up 3.9 %

Shares of BDTX stock opened at $2.37 on Thursday. The company has a 50 day moving average of $2.31 and a 200-day moving average of $3.44. Black Diamond Therapeutics has a 12-month low of $1.91 and a 12-month high of $7.66. The firm has a market cap of $134.09 million, a P/E ratio of -1.78 and a beta of 2.51.

About Black Diamond Therapeutics

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.