Short Interest in Black Diamond Therapeutics, Inc. (NASDAQ:BDTX) Declines By 6.2%

Black Diamond Therapeutics, Inc. (NASDAQ:BDTX) saw a significant decrease in short interest during the month of November. As of November 15th, there was short interest totalling 5,940,000 shares, a decrease of 6.2% from the October 31st total of 6,330,000 shares. Based on an average daily volume of 1,180,000 shares, the short-interest ratio is currently 5.0 days.

Black Diamond Therapeutics Price Performance

Shares of BDTX stock traded down $0.05 during midday trading on Monday, hitting $2.60. The company had a trading volume of 491,701 shares, compared to its average volume of 795,031. The stock has a market cap of $147.12 million, a price-to-earnings ratio of -1.99 and a beta of 2.51. The company’s 50 day simple moving average is $3.25 and its 200 day simple moving average is $4.62. Black Diamond Therapeutics has a 52-week low of $2.23 and a 52-week high of $7.66.

Black Diamond Therapeutics (NASDAQ:BDTX) last released its earnings results on Tuesday, November 5th. The company reported ($0.28) EPS for the quarter, topping the consensus estimate of ($0.37) by $0.09. Analysts anticipate that Black Diamond Therapeutics will post -1.3 EPS for the current year.

Analysts Set New Price Targets

BDTX has been the topic of several research analyst reports. HC Wainwright reiterated a “buy” rating and set a $11.00 price target on shares of Black Diamond Therapeutics in a research note on Wednesday, November 6th. Piper Sandler lifted their target price on Black Diamond Therapeutics from $12.00 to $15.00 and gave the stock an “overweight” rating in a research report on Monday, September 23rd. Finally, Wedbush restated an “outperform” rating and set a $16.00 price target on shares of Black Diamond Therapeutics in a research note on Tuesday, October 8th.

Hedge Funds Weigh In On Black Diamond Therapeutics

A number of large investors have recently modified their holdings of the business. Walleye Capital LLC acquired a new position in Black Diamond Therapeutics during the third quarter worth $49,000. Intech Investment Management LLC acquired a new position in shares of Black Diamond Therapeutics during the 3rd quarter worth $56,000. Vontobel Holding Ltd. purchased a new position in shares of Black Diamond Therapeutics in the 3rd quarter valued at about $68,000. MetLife Investment Management LLC lifted its stake in shares of Black Diamond Therapeutics by 129.1% in the third quarter. MetLife Investment Management LLC now owns 22,286 shares of the company’s stock valued at $97,000 after purchasing an additional 12,557 shares during the period. Finally, SG Americas Securities LLC purchased a new stake in Black Diamond Therapeutics during the second quarter worth about $108,000. 95.47% of the stock is owned by hedge funds and other institutional investors.

Black Diamond Therapeutics Company 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.