Insider Selling: Black Diamond Therapeutics, Inc. (NASDAQ:BDTX) Major Shareholder Sells 5,784,292 Shares of Stock

Black Diamond Therapeutics, Inc. (NASDAQ:BDTX) major shareholder Growth N. V. Biotech sold 5,784,292 shares of the company’s stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $2.07, for a total transaction of $11,973,484.44. Following the completion of the sale, the insider now directly owns 2,733,547 shares in the company, valued at approximately $5,658,442.29. The trade was a 67.91 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Black Diamond Therapeutics Stock Down 5.3 %

Black Diamond Therapeutics stock opened at $1.78 on Friday. The stock has a market cap of $100.86 million, a P/E ratio of -1.34 and a beta of 2.52. Black Diamond Therapeutics, Inc. has a twelve month low of $1.59 and a twelve month high of $7.66. The company’s 50-day moving average price is $2.16 and its two-hundred day moving average price is $2.89.

Black Diamond Therapeutics (NASDAQ:BDTX) last released its quarterly earnings results on Thursday, March 6th. The company reported ($0.28) earnings per share for the quarter, beating the consensus estimate of ($0.31) by $0.03. Equities analysts anticipate that Black Diamond Therapeutics, Inc. will post -1.3 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of BDTX. D. E. Shaw & Co. Inc. bought a new position in Black Diamond Therapeutics in the 4th quarter valued at about $37,000. Intech Investment Management LLC grew its position in shares of Black Diamond Therapeutics by 49.1% during the 4th quarter. Intech Investment Management LLC now owns 19,247 shares of the company’s stock worth $41,000 after purchasing an additional 6,340 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of Black Diamond Therapeutics by 429.6% during the 4th quarter. JPMorgan Chase & Co. now owns 18,929 shares of the company’s stock worth $41,000 after purchasing an additional 15,355 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of Black Diamond Therapeutics during the 4th quarter worth approximately $42,000. Finally, Wells Fargo & Company MN grew its position in shares of Black Diamond Therapeutics by 41.8% during the 4th quarter. Wells Fargo & Company MN now owns 20,119 shares of the company’s stock worth $43,000 after purchasing an additional 5,932 shares in the last quarter. 95.47% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on BDTX shares. Wedbush reaffirmed an “outperform” rating and issued a $11.00 target price on shares of Black Diamond Therapeutics in a report on Wednesday. HC Wainwright upped their target price on shares of Black Diamond Therapeutics from $11.00 to $12.00 and gave the company a “buy” rating in a report on Tuesday. Finally, Stifel Nicolaus dropped 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 report on Friday, March 7th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $14.60.

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.