Dimensional Fund Advisors LP raised its stake in Black Diamond Therapeutics, Inc. (NASDAQ:BDTX - Free Report) by 158.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 661,436 shares of the company's stock after purchasing an additional 405,579 shares during the quarter. Dimensional Fund Advisors LP owned approximately 1.17% of Black Diamond Therapeutics worth $1,416,000 at the end of the most recent reporting period.
A number of other institutional investors have also added to or reduced their stakes in BDTX. Renaissance Technologies LLC boosted its stake in shares of Black Diamond Therapeutics by 256.2% during the 4th quarter. Renaissance Technologies LLC now owns 904,000 shares of the company's stock worth $1,935,000 after acquiring an additional 650,200 shares during the period. Affinity Asset Advisors LLC bought a new stake in shares of Black Diamond Therapeutics during the 4th quarter worth approximately $1,197,000. XTX Topco Ltd bought a new stake in shares of Black Diamond Therapeutics during the 4th quarter worth $197,000. Bank of New York Mellon Corp increased its holdings in Black Diamond Therapeutics by 46.1% in the 4th 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 in the last quarter. Finally, Walleye Capital LLC raised its position in shares of Black Diamond Therapeutics by 507.6% in the 4th quarter. Walleye Capital LLC now owns 68,016 shares of the company's stock worth $146,000 after acquiring an additional 56,821 shares in the last quarter. 95.47% of the stock is currently owned by institutional investors and hedge funds.
Insiders Place Their Bets
In other news, major shareholder Growth N. V. Biotech sold 5,784,292 shares of the company'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 transaction, the insider now owns 2,733,547 shares of the company's stock, valued at approximately $5,658,442.29. This represents a 67.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 8.87% of the company's stock.
Black Diamond Therapeutics Stock Performance
BDTX stock opened at $2.03 on Thursday. The stock has a fifty day moving average of $1.62 and a 200-day moving average of $2.11. Black Diamond Therapeutics, Inc. has a fifty-two week low of $1.20 and a fifty-two week high of $6.75. The company has a market capitalization of $115.43 million, a price-to-earnings ratio of -1.53 and a beta of 2.63.
Black Diamond Therapeutics (NASDAQ:BDTX - Get Free Report) last posted its earnings results on Thursday, March 6th. The company reported ($0.28) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.31) by $0.03. Equities analysts predict that Black Diamond Therapeutics, Inc. will post -1.3 EPS for the current year.
Wall Street Analyst Weigh In
BDTX has been the subject of several analyst reports. Wedbush reissued an "outperform" rating and issued a $11.00 price objective on shares of Black Diamond Therapeutics in a research note on Wednesday, March 19th. Stifel Nicolaus cut 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 report on Friday, March 7th. Finally, HC Wainwright lifted 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 report on Tuesday, March 18th. Five research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $14.60.
Get Our Latest Report on BDTX
Black Diamond Therapeutics Company Profile
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Free Report)
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.
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