Affinity Asset Advisors LLC Sells 309,163 Shares of Black Diamond Therapeutics, Inc. $BDTX

Key Points

• Affinity Asset Advisors LLC has reduced its stake in Black Diamond Therapeutics, Inc. by 55.3%, now holding 250,000 shares valued at approximately $388,000.
• Multiple hedge funds, including JPMorgan Chase & Co., have significantly increased their positions in Black Diamond Therapeutics, indicating varied investor confidence in the company.
• Analysts have mixed ratings on Black Diamond Therapeutics, with a consensus "Buy" rating but varying price targets, reflecting differing market sentiment.

Affinity Asset Advisors LLC lessened its holdings in Black Diamond Therapeutics, Inc. (NASDAQ:BDTX - Free Report) by 55.3% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 250,000 shares of the company's stock after selling 309,163 shares during the quarter. Affinity Asset Advisors LLC owned 0.44% of Black Diamond Therapeutics worth $388,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. D. E. Shaw & Co. Inc. acquired a new position in Black Diamond Therapeutics in the fourth quarter valued at about $37,000. JPMorgan Chase & Co. raised its stake in Black Diamond Therapeutics by 429.6% in the fourth quarter. JPMorgan Chase & Co. now owns 18,929 shares of the company's stock valued at $41,000 after purchasing an additional 15,355 shares in the last quarter. Wells Fargo & Company MN raised its stake in Black Diamond Therapeutics by 41.8% in the fourth quarter. Wells Fargo & Company MN now owns 20,119 shares of the company's stock valued at $43,000 after purchasing an additional 5,932 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Black Diamond Therapeutics in the fourth quarter valued at about $53,000. Finally, Hsbc Holdings PLC raised its stake in Black Diamond Therapeutics by 99.0% in the fourth quarter. Hsbc Holdings PLC now owns 27,159 shares of the company's stock valued at $59,000 after purchasing an additional 13,511 shares in the last quarter. Institutional investors own 95.47% of the company's stock.

Black Diamond Therapeutics Stock Performance

Shares of Black Diamond Therapeutics stock traded down $0.10 on Friday, hitting $2.75. The stock had a trading volume of 563,573 shares, compared to its average volume of 871,646. The stock has a 50 day moving average of $2.74 and a 200 day moving average of $2.17. Black Diamond Therapeutics, Inc. has a twelve month low of $1.20 and a twelve month high of $6.37. The firm has a market capitalization of $156.59 million, a P/E ratio of 11.96 and a beta of 2.87.

Black Diamond Therapeutics (NASDAQ:BDTX - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported ($0.19) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.25) by $0.06. Equities analysts expect that Black Diamond Therapeutics, Inc. will post -1.3 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts recently commented on BDTX shares. Raymond James Financial raised Black Diamond Therapeutics to an "outperform" rating and set a $11.00 price target for the company in a research note on Tuesday, July 1st. HC Wainwright dropped their price target on Black Diamond Therapeutics from $12.00 to $10.00 and set a "buy" rating for the company in a research note on Monday, August 11th. Wall Street Zen downgraded Black Diamond Therapeutics from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Finally, Zacks Research raised Black Diamond Therapeutics to a "strong-buy" rating in a research note on Monday, August 11th. One research analyst has rated the stock with a Strong Buy rating and five have issued a Buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $12.40.

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.