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

Black Diamond Therapeutics, Inc. (NASDAQ:BDTX) was the recipient of a large growth in short interest in the month of October. As of October 15th, there was short interest totalling 7,320,000 shares, a growth of 5.9% from the September 30th total of 6,910,000 shares. Based on an average daily trading volume, of 1,180,000 shares, the short-interest ratio is presently 6.2 days.

Institutional Investors Weigh In On Black Diamond Therapeutics

Institutional investors have recently added to or reduced their stakes in the business. Vontobel Holding Ltd. bought a new stake in shares of Black Diamond Therapeutics in the 3rd quarter valued at about $68,000. Susquehanna Fundamental Investments LLC bought a new stake in Black Diamond Therapeutics in the first quarter valued at approximately $82,000. SG Americas Securities LLC acquired a new stake in Black Diamond Therapeutics during the 2nd quarter valued at approximately $108,000. Algert Global LLC bought a new position in Black Diamond Therapeutics during the 2nd quarter worth approximately $133,000. Finally, Rhumbline Advisers raised its holdings in Black Diamond Therapeutics by 10,334.3% during the 2nd quarter. Rhumbline Advisers now owns 46,850 shares of the company’s stock worth $218,000 after purchasing an additional 46,401 shares during the last quarter. 95.47% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have weighed in on BDTX shares. Wedbush reiterated an “outperform” rating and issued a $16.00 price objective on shares of Black Diamond Therapeutics in a research note on Tuesday, October 8th. Raymond James started coverage on Black Diamond Therapeutics in a research report on Wednesday, July 31st. They set an “outperform” rating and a $20.00 price target on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $11.00 price objective on shares of Black Diamond Therapeutics in a report on Wednesday, October 9th. Finally, Piper Sandler increased their target price on Black Diamond Therapeutics from $12.00 to $15.00 and gave the stock an “overweight” rating in a report on Monday, September 23rd.

Black Diamond Therapeutics Stock Up 5.5 %

Shares of BDTX stock opened at $2.89 on Friday. Black Diamond Therapeutics has a twelve month low of $1.62 and a twelve month high of $7.66. The stock’s fifty day simple moving average is $4.48 and its 200 day simple moving average is $5.09. The firm has a market capitalization of $163.31 million, a P/E ratio of -1.92 and a beta of 2.47.

Black Diamond Therapeutics (NASDAQ:BDTX) last released its quarterly earnings results on Tuesday, August 6th. The company reported ($0.36) earnings per share for the quarter, topping the consensus estimate of ($0.39) by $0.03. As a group, equities research analysts expect that Black Diamond Therapeutics will post -1.44 EPS for the current fiscal year.

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.