MetLife Investment Management LLC Purchases 12,557 Shares of Black Diamond Therapeutics, Inc. (NASDAQ:BDTX)

MetLife Investment Management LLC boosted its position in Black Diamond Therapeutics, Inc. (NASDAQ:BDTX) by 129.1% during the third quarter, HoldingsChannel.com reports. The fund owned 22,286 shares of the company’s stock after buying an additional 12,557 shares during the quarter. MetLife Investment Management LLC’s holdings in Black Diamond Therapeutics were worth $97,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Ally Bridge Group NY LLC acquired a new stake in Black Diamond Therapeutics in the second quarter valued at approximately $3,891,000. Affinity Asset Advisors LLC acquired a new stake in Black Diamond Therapeutics in the second quarter valued at approximately $3,029,000. TD Asset Management Inc boosted its position in Black Diamond Therapeutics by 275.9% in the second quarter. TD Asset Management Inc now owns 266,312 shares of the company’s stock valued at $1,241,000 after buying an additional 195,464 shares in the last quarter. Renaissance Technologies LLC boosted its position in Black Diamond Therapeutics by 24.1% in the second quarter. Renaissance Technologies LLC now owns 263,900 shares of the company’s stock valued at $1,230,000 after buying an additional 51,300 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in Black Diamond Therapeutics by 79.1% in the second quarter. Dimensional Fund Advisors LP now owns 200,044 shares of the company’s stock valued at $932,000 after buying an additional 88,378 shares in the last quarter. Institutional investors and hedge funds own 95.47% of the company’s stock.

Analyst Upgrades and Downgrades

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

Black Diamond Therapeutics Stock Performance

Shares of NASDAQ:BDTX opened at $2.44 on Wednesday. The firm has a market cap of $138.07 million, a PE ratio of -1.83 and a beta of 2.47. The firm’s fifty day moving average is $2.98 and its 200-day moving average is $4.50. Black Diamond Therapeutics, Inc. has a 52 week low of $2.31 and a 52 week high of $7.66.

Black Diamond Therapeutics (NASDAQ:BDTX) last issued its quarterly earnings results on Tuesday, November 5th. The company reported ($0.28) EPS for the quarter, topping analysts’ consensus estimates of ($0.37) by $0.09. Sell-side analysts forecast that Black Diamond Therapeutics, Inc. will post -1.3 EPS for the current 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.