Renaissance Technologies LLC Grows Holdings in Black Diamond Therapeutics, Inc. (NASDAQ:BDTX)

Renaissance Technologies LLC raised its position in Black Diamond Therapeutics, Inc. (NASDAQ:BDTX - Free Report) by 256.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 904,000 shares of the company's stock after buying an additional 650,200 shares during the period. Renaissance Technologies LLC owned about 1.60% of Black Diamond Therapeutics worth $1,935,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Geode Capital Management LLC lifted its holdings in Black Diamond Therapeutics by 1.5% during the 4th quarter. Geode Capital Management LLC now owns 959,316 shares of the company's stock valued at $2,053,000 after purchasing an additional 14,439 shares during the last quarter. State Street Corp lifted its position in shares of Black Diamond Therapeutics by 17.2% during the 3rd quarter. State Street Corp now owns 809,196 shares of the company's stock valued at $3,520,000 after acquiring an additional 118,764 shares during the period. Wellington Management Group LLP increased its position in shares of Black Diamond Therapeutics by 7.9% in the fourth quarter. Wellington Management Group LLP now owns 221,236 shares of the company's stock worth $473,000 after purchasing an additional 16,279 shares during the period. Bank of New York Mellon Corp lifted its position in Black Diamond Therapeutics by 46.1% during the fourth quarter. Bank of New York Mellon Corp now owns 207,074 shares of the company's stock worth $443,000 after purchasing an additional 65,341 shares during the period. Finally, Barclays PLC grew its stake in Black Diamond Therapeutics by 201.9% during the third quarter. Barclays PLC now owns 78,151 shares of the company's stock worth $339,000 after buying an additional 52,265 shares in the last quarter. Institutional investors own 95.47% of the company's stock.

Insider Buying and Selling

In other Black Diamond Therapeutics news, major shareholder Growth N. V. Biotech sold 5,784,292 shares of the business'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 completion of the sale, the insider now directly owns 2,733,547 shares of the company's stock, valued at $5,658,442.29. The trade was a 67.91 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 8.87% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on BDTX shares. Stifel Nicolaus reduced their price target on shares of Black Diamond Therapeutics from $16.00 to $15.00 and set a "buy" rating on the stock in a research report on Friday, March 7th. Wedbush reaffirmed an "outperform" rating and issued a $11.00 price objective on shares of Black Diamond Therapeutics in a research note on Wednesday, March 19th. Finally, HC Wainwright increased their target price on shares of Black Diamond Therapeutics from $11.00 to $12.00 and gave the stock a "buy" rating in a report on Tuesday, March 18th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Black Diamond Therapeutics currently has an average rating of "Buy" and an average price target of $14.60.

Black Diamond Therapeutics Price Performance

Shares of Black Diamond Therapeutics stock traded up $0.01 during trading on Thursday, hitting $1.71. The company's stock had a trading volume of 188,974 shares, compared to its average volume of 1,470,246. The stock has a market cap of $96.63 million, a price-to-earnings ratio of -1.28 and a beta of 2.81. Black Diamond Therapeutics, Inc. has a 52 week low of $1.20 and a 52 week high of $7.66. The stock has a 50-day moving average price of $1.64 and a two-hundred day moving average price of $2.24.

Black Diamond Therapeutics (NASDAQ:BDTX - Get Free Report) last posted its quarterly earnings results on Thursday, March 6th. The company reported ($0.28) EPS for the quarter, topping analysts' consensus estimates of ($0.31) by $0.03. On average, equities analysts predict that Black Diamond Therapeutics, Inc. will post -1.3 EPS for the current fiscal year.

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.