Connor Clark & Lunn Investment Management Ltd. Sells 37,472 Shares of Black Diamond Therapeutics, Inc. (NASDAQ:BDTX)

Connor Clark & Lunn Investment Management Ltd. lessened its position in shares of Black Diamond Therapeutics, Inc. (NASDAQ:BDTX) by 13.2% during the fourth quarter, HoldingsChannel.com reports. The fund owned 246,681 shares of the company’s stock after selling 37,472 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Black Diamond Therapeutics were worth $528,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Walleye Capital LLC purchased a new position in shares of Black Diamond Therapeutics during the 3rd quarter valued at $49,000. Intech Investment Management LLC bought a new position in Black Diamond Therapeutics in the 3rd quarter worth about $56,000. SG Americas Securities LLC purchased a new stake in shares of Black Diamond Therapeutics in the 4th quarter valued at about $42,000. MetLife Investment Management LLC boosted its position in shares of Black Diamond Therapeutics by 129.1% during the 3rd quarter. MetLife Investment Management LLC now owns 22,286 shares of the company’s stock valued at $97,000 after acquiring an additional 12,557 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new position in shares of Black Diamond Therapeutics during the fourth quarter worth about $53,000. 95.47% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Black Diamond Therapeutics news, major shareholder Growth N. V. Biotech sold 5,784,292 shares of the firm’s stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $2.07, for a total value of $11,973,484.44. Following the sale, the insider now owns 2,733,547 shares of the company’s stock, valued at $5,658,442.29. This trade represents a 67.91 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 8.87% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on BDTX. Stifel Nicolaus lowered their target price on shares of Black Diamond Therapeutics from $16.00 to $15.00 and set a “buy” rating on the stock in a research note on Friday, March 7th. Wedbush reaffirmed an “outperform” rating and set a $11.00 price objective on shares of Black Diamond Therapeutics in a report on Wednesday. Finally, HC Wainwright raised their price target on Black Diamond Therapeutics from $11.00 to $12.00 and gave the company a “buy” rating in a research report on Tuesday, March 18th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $14.60.

Black Diamond Therapeutics Stock Performance

BDTX stock opened at $1.78 on Friday. The firm has a market cap of $100.86 million, a P/E ratio of -1.34 and a beta of 2.52. The firm’s fifty day moving average is $2.16 and its 200 day moving average is $2.87. Black Diamond Therapeutics, Inc. has a 52 week low of $1.59 and a 52 week high of $7.66.

Black Diamond Therapeutics (NASDAQ:BDTX) last released its quarterly earnings data on Thursday, March 6th. The company reported ($0.28) EPS for the quarter, topping the consensus estimate of ($0.31) by $0.03. As a group, 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.