Millennium Management LLC Buys 465,531 Shares of Black Diamond Therapeutics, Inc. (NASDAQ:BDTX)

Millennium Management LLC increased its stake in Black Diamond Therapeutics, Inc. (NASDAQ:BDTX - Free Report) by 503.0% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 558,076 shares of the company's stock after purchasing an additional 465,531 shares during the quarter. Millennium Management LLC owned about 0.99% of Black Diamond Therapeutics worth $1,194,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. D. E. Shaw & Co. Inc. bought a new position in Black Diamond Therapeutics in the 4th quarter worth about $37,000. Intech Investment Management LLC boosted its position in shares of Black Diamond Therapeutics by 49.1% in the fourth quarter. Intech Investment Management LLC now owns 19,247 shares of the company's stock valued at $41,000 after acquiring an additional 6,340 shares during the period. JPMorgan Chase & Co. grew its stake in Black Diamond Therapeutics by 429.6% during the fourth quarter. JPMorgan Chase & Co. now owns 18,929 shares of the company's stock valued at $41,000 after acquiring an additional 15,355 shares in the last quarter. SG Americas Securities LLC purchased a new position in Black Diamond Therapeutics during the fourth quarter valued at approximately $42,000. Finally, Wells Fargo & Company MN increased its holdings in Black Diamond Therapeutics by 41.8% during the 4th quarter. Wells Fargo & Company MN now owns 20,119 shares of the company's stock worth $43,000 after acquiring an additional 5,932 shares during the period. 95.47% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Wedbush reissued an "outperform" rating and issued a $11.00 price target on shares of Black Diamond Therapeutics in a report on Wednesday, March 19th. Stifel Nicolaus dropped their price objective on Black Diamond Therapeutics from $16.00 to $15.00 and set a "buy" rating for the company in a research note on Friday, March 7th. HC Wainwright boosted their target price on Black Diamond Therapeutics from $11.00 to $12.00 and gave the stock a "buy" rating in a research report on Tuesday, March 18th. Finally, Wall Street Zen raised Black Diamond Therapeutics from a "hold" rating to a "buy" rating in a report on Thursday, May 22nd. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Black Diamond Therapeutics has a consensus rating of "Buy" and an average target price of $14.60.

Black Diamond Therapeutics Trading Up 3.6%

Shares of NASDAQ:BDTX traded up $0.09 during trading on Friday, reaching $2.58. The company had a trading volume of 1,653,690 shares, compared to its average volume of 1,526,121. The company has a fifty day moving average of $1.74 and a two-hundred day moving average of $2.04. The stock has a market capitalization of $146.71 million, a P/E ratio of -1.94 and a beta of 2.63. Black Diamond Therapeutics, Inc. has a 12 month low of $1.20 and a 12 month high of $6.75.

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 (EPS) for the quarter, topping the consensus estimate of ($0.31) by $0.03. As a group, equities research analysts predict that Black Diamond Therapeutics, Inc. will post -1.3 earnings per share for the current year.

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 completion of the sale, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 5.97% of the company's stock.

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.