AWM Investment Company Inc. Makes New Investment in Black Diamond Therapeutics, Inc. $BDTX

Key Points

• AWM Investment Company Inc. has acquired a stake in Black Diamond Therapeutics, purchasing 500,000 shares valued at approximately $775,000, representing 0.88% ownership.
• The stock of Black Diamond Therapeutics (NASDAQ: BDTX) has shown recent trading activity with a market cap of $159.43 million and has a 1-year price range of $1.20 to $6.33.
• Analysts hold a generally positive outlook on Black Diamond Therapeutics, with an average rating of "Buy" and a consensus price target of $12.40.

AWM Investment Company Inc. acquired a new stake in Black Diamond Therapeutics, Inc. (NASDAQ:BDTX - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 500,000 shares of the company's stock, valued at approximately $775,000. AWM Investment Company Inc. owned approximately 0.88% of Black Diamond Therapeutics at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in BDTX. D. E. Shaw & Co. Inc. bought a new stake in shares of Black Diamond Therapeutics in the fourth quarter valued at about $37,000. JPMorgan Chase & Co. raised its holdings in Black Diamond Therapeutics by 429.6% in the fourth quarter. JPMorgan Chase & Co. now owns 18,929 shares of the company's stock worth $41,000 after purchasing an additional 15,355 shares in the last quarter. Wells Fargo & Company MN raised its holdings 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 worth $43,000 after purchasing an additional 5,932 shares in the last quarter. Raymond James Financial Inc. bought a new position in Black Diamond Therapeutics in the fourth quarter worth about $53,000. Finally, Hsbc Holdings PLC raised its holdings in Black Diamond Therapeutics by 99.0% in the fourth quarter. Hsbc Holdings PLC now owns 27,159 shares of the company's stock worth $59,000 after purchasing an additional 13,511 shares in the last quarter. 95.47% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on BDTX shares. Raymond James Financial upgraded shares of Black Diamond Therapeutics to an "outperform" rating and set a $11.00 target price for the company in a report on Tuesday, July 1st. Guggenheim started coverage on shares of Black Diamond Therapeutics in a report on Wednesday. They issued a "buy" rating and a $8.00 target price for the company. Zacks Research upgraded shares of Black Diamond Therapeutics to a "strong-buy" rating in a report on Monday, August 11th. Wall Street Zen downgraded shares of Black Diamond Therapeutics from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Finally, HC Wainwright cut their price objective on shares of Black Diamond Therapeutics from $12.00 to $10.00 and set a "buy" rating on the stock in a report on Monday, August 11th. One analyst has rated the stock with a Strong Buy rating and six have assigned a Buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $11.67.

Black Diamond Therapeutics Stock Up 2.4%

Shares of BDTX traded up $0.07 during mid-day trading on Friday, hitting $2.94. 602,435 shares of the company traded hands, compared to its average volume of 772,637. The business has a 50 day moving average of $2.78 and a 200 day moving average of $2.19. The company has a market capitalization of $167.39 million, a PE ratio of 12.78 and a beta of 2.93. Black Diamond Therapeutics, Inc. has a 1-year low of $1.20 and a 1-year high of $6.33.

Black Diamond Therapeutics (NASDAQ:BDTX - Get Free Report) last issued its earnings results on Thursday, August 7th. The company reported ($0.19) EPS for the quarter, beating analysts' consensus estimates of ($0.25) by $0.06. As a group, research analysts expect that Black Diamond Therapeutics, Inc. will post -1.3 EPS for the current fiscal year.

About Black Diamond Therapeutics

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.