Boxer Capital Management LLC Takes Position in Black Diamond Therapeutics, Inc. (NASDAQ:BDTX)

Boxer Capital Management LLC purchased a new stake in shares of Black Diamond Therapeutics, Inc. (NASDAQ:BDTX - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 506,000 shares of the company's stock, valued at approximately $1,083,000. Boxer Capital Management LLC owned 0.89% of Black Diamond Therapeutics at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in BDTX. Northern Trust Corp boosted its position in shares of Black Diamond Therapeutics by 10.9% in the fourth quarter. Northern Trust Corp now owns 382,747 shares of the company's stock valued at $819,000 after acquiring an additional 37,633 shares during the period. Susquehanna Fundamental Investments LLC acquired a new stake in Black Diamond Therapeutics in the 4th quarter worth $160,000. Hsbc Holdings PLC increased its holdings in shares of Black Diamond Therapeutics by 99.0% during the 4th quarter. Hsbc Holdings PLC now owns 27,159 shares of the company's stock worth $59,000 after purchasing an additional 13,511 shares during the period. Stifel Financial Corp lifted its stake in shares of Black Diamond Therapeutics by 10.4% in the fourth quarter. Stifel Financial Corp now owns 166,000 shares of the company's stock valued at $355,000 after buying an additional 15,676 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in Black Diamond Therapeutics by 158.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 661,436 shares of the company's stock valued at $1,416,000 after acquiring an additional 405,579 shares in the last quarter. Institutional investors own 95.47% of the company's stock.

Insider Activity at Black Diamond Therapeutics

In other 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 stock was 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 owns 2,733,547 shares in the company, 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 legal filing with the SEC, which is available through this link. 8.87% of the stock is currently owned by company insiders.

Black Diamond Therapeutics Price Performance

Shares of NASDAQ:BDTX traded up $0.08 during trading on Friday, reaching $1.78. The stock had a trading volume of 1,042,455 shares, compared to its average volume of 1,477,538. The stock has a market capitalization of $100.89 million, a PE ratio of -1.34 and a beta of 2.63. Black Diamond Therapeutics, Inc. has a 52 week low of $1.20 and a 52 week high of $7.66. The business's 50-day moving average price is $1.62 and its 200 day moving average price is $2.21.

Black Diamond Therapeutics (NASDAQ:BDTX - Get Free Report) last announced its earnings results on Thursday, March 6th. The company reported ($0.28) earnings per share for the quarter, beating analysts' consensus estimates of ($0.31) by $0.03. Analysts forecast that Black Diamond Therapeutics, Inc. will post -1.3 EPS for the current year.

Analyst Upgrades and Downgrades

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

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.