AWM Investment Company Inc. Invests $1.85 Million in Black Diamond Therapeutics, Inc. $BDTX

Key Points

• AWM Investment Company acquired 1 million shares of Black Diamond Therapeutics during the second quarter, worth approximately $1.85 million and representing about 1.74% of the company. Institutional investors collectively own 95.47% of BDTX.
• Analyst sentiment remains positive overall, with eight Buy ratings, two Holds and one Sell, producing a consensus “Moderate Buy” rating and an average price target of $9.80.
• BDTX opened at $2.24, with a market capitalization of roughly $128.7 million. The company reported a quarterly loss of $0.17 per share, beating estimates of a $0.20 loss, while analysts expect a full-year loss of $0.57 per share.

AWM Investment Company Inc. acquired a new stake in Black Diamond Therapeutics, Inc. (NASDAQ:BDTX - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,000,000 shares of the company's stock, valued at approximately $1,850,000. AWM Investment Company Inc. owned approximately 1.74% of Black Diamond Therapeutics as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in BDTX. BlackRock Inc. purchased a new position in Black Diamond Therapeutics during the second quarter worth approximately $7,247,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Black Diamond Therapeutics in the 2nd quarter valued at $2,022,000. Arrowstreet Capital Limited Partnership grew its stake in shares of Black Diamond Therapeutics by 549.2% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 896,853 shares of the company's stock valued at $3,399,000 after buying an additional 758,709 shares during the period. Marshall Wace LLP purchased a new stake in shares of Black Diamond Therapeutics during the 2nd quarter valued at $1,830,000. Finally, Renaissance Technologies LLC increased its holdings in shares of Black Diamond Therapeutics by 73.1% during the 1st quarter. Renaissance Technologies LLC now owns 1,643,747 shares of the company's stock worth $3,501,000 after buying an additional 694,012 shares during the last quarter. Institutional investors and hedge funds own 95.47% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on BDTX. Wall Street Zen downgraded Black Diamond Therapeutics from a "hold" rating to a "sell" rating in a research report on Saturday, May 9th. Jefferies Financial Group restated a "buy" rating on shares of Black Diamond Therapeutics in a report on Thursday, August 6th. BTIG Research lifted their price objective on Black Diamond Therapeutics from $10.00 to $11.00 and gave the company a "buy" rating in a research note on Wednesday, April 29th. HC Wainwright reiterated a "buy" rating on shares of Black Diamond Therapeutics in a report on Friday, May 22nd. Finally, TD Cowen reissued a "buy" rating on shares of Black Diamond Therapeutics in a research report on Thursday, August 6th. Eight equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $9.80.

Black Diamond Therapeutics Price Performance

NASDAQ:BDTX opened at $2.24 on Wednesday. The firm has a 50-day moving average of $1.88 and a two-hundred day moving average of $2.23. The stock has a market cap of $128.69 million, a P/E ratio of -2.99 and a beta of 3.28. Black Diamond Therapeutics, Inc. has a 1-year low of $1.60 and a 1-year high of $4.94.

Black Diamond Therapeutics (NASDAQ:BDTX - Get Free Report) last announced its earnings results on Wednesday, August 5th. The company reported ($0.17) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.20) by $0.03. As a group, equities analysts expect that Black Diamond Therapeutics, Inc. will post -0.57 earnings per share for the current year.

Black Diamond Therapeutics Company Profile

Black Diamond Therapeutics, Inc is a precision oncology company focused on the discovery and development of small-molecule therapies that selectively target oncogenic proteins bearing tumor-driving mutations. Leveraging its proprietary Genetic Defined Allosteric (GDA) therapeutic platform, the company aims to identify unique allosteric binding sites in mutant proteins and engineer highly selective inhibitors. Headquartered in Cambridge, Massachusetts, Black Diamond applies structure-based drug design and molecular modeling to advance personalized cancer treatments.

The company's development pipeline includes lead candidate BDTX-189, an allosteric inhibitor of mutant HER2, as well as programs directed at clinically relevant EGFR and KRAS mutations.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.