Renaissance Technologies LLC Increases Position in Black Diamond Therapeutics, Inc. (NASDAQ:BDTX)

Renaissance Technologies LLC lifted its stake in Black Diamond Therapeutics, Inc. (NASDAQ:BDTX - Free Report) by 256.2% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 904,000 shares of the company's stock after purchasing an additional 650,200 shares during the period. Renaissance Technologies LLC owned 1.60% of Black Diamond Therapeutics worth $1,935,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. JPMorgan Chase & Co. boosted its stake in 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 acquiring an additional 15,355 shares during the last quarter. Intech Investment Management LLC boosted its position in shares of Black Diamond Therapeutics by 49.1% during the fourth 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. SG Americas Securities LLC acquired a new position in shares of Black Diamond Therapeutics in the 4th quarter valued at $42,000. Wells Fargo & Company MN increased its position in shares of Black Diamond Therapeutics by 41.8% in the 4th quarter. Wells Fargo & Company MN now owns 20,119 shares of the company's stock valued at $43,000 after buying an additional 5,932 shares in the last quarter. Finally, Sei Investments Co. acquired a new stake in shares of Black Diamond Therapeutics during the fourth quarter worth about $49,000. 95.47% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently weighed in on BDTX. Wedbush reiterated an "outperform" rating and issued a $11.00 price target on shares of Black Diamond Therapeutics in a report on Wednesday, March 19th. HC Wainwright upped their target price on shares of Black Diamond Therapeutics from $11.00 to $12.00 and gave the stock a "buy" rating in a research note on Tuesday, March 18th. Finally, Stifel Nicolaus lowered their target price on Black Diamond Therapeutics from $16.00 to $15.00 and set a "buy" rating for the company in a report on Friday, March 7th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $14.60.

Insider Buying and Selling at Black Diamond Therapeutics

In other news, major shareholder Growth N. V. Biotech sold 5,784,292 shares of Black Diamond Therapeutics stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $2.07, for a total transaction of $11,973,484.44. Following the sale, the insider now directly owns 2,733,547 shares of the company's stock, valued at approximately $5,658,442.29. This trade represents a 67.91 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 8.87% of the company's stock.

Black Diamond Therapeutics Stock Performance

BDTX traded up $0.05 on Wednesday, hitting $1.65. 350,495 shares of the company were exchanged, compared to its average volume of 1,469,844. The stock's fifty day moving average is $1.65 and its 200-day moving average is $2.24. Black Diamond Therapeutics, Inc. has a 12 month low of $1.20 and a 12 month high of $7.66. The company has a market cap of $93.23 million, a PE ratio of -1.24 and a beta of 2.81.

Black Diamond Therapeutics (NASDAQ:BDTX - Get Free Report) last released its 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. As a group, equities research analysts expect that Black Diamond Therapeutics, Inc. will post -1.3 EPS for the current fiscal year.

Black Diamond Therapeutics 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.