Brown Wealth Management LLC Takes Position in Black Diamond Therapeutics, Inc. (NASDAQ:BDTX)

Key Points

• Brown Wealth Management LLC has purchased 100,000 shares of Black Diamond Therapeutics, Inc. (NASDAQ: BDTX), valued at about $155,000, and now owns 0.18% of the company's stock.
• Black Diamond Therapeutics' stock has recently seen a price of $2.97 with a market cap of approximately $168.88 million, and has a 1-year price range between $1.20 and $6.75.
• The company has received positive ratings from analysts, with six recommending a buy and an average price target of $12.80.

Brown Wealth Management LLC acquired a new position in Black Diamond Therapeutics, Inc. (NASDAQ:BDTX - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 100,000 shares of the company's stock, valued at approximately $155,000. Brown Wealth Management LLC owned approximately 0.18% of Black Diamond Therapeutics at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Bank of New York Mellon Corp raised its position in Black Diamond Therapeutics by 46.1% in the fourth 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. Raymond James Financial Inc. acquired a new stake in Black Diamond Therapeutics in the fourth quarter worth $53,000. Intech Investment Management LLC raised its holdings in Black Diamond Therapeutics by 49.1% in the fourth quarter. Intech Investment Management LLC now owns 19,247 shares of the company's stock worth $41,000 after purchasing an additional 6,340 shares during the period. Sei Investments Co. acquired a new stake in shares of Black Diamond Therapeutics during the fourth quarter worth $49,000. Finally, JPMorgan Chase & Co. increased its stake in Black Diamond Therapeutics by 429.6% in the 4th quarter. JPMorgan Chase & Co. now owns 18,929 shares of the company's stock valued at $41,000 after buying an additional 15,355 shares during the last quarter. 95.47% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Raymond James Financial upgraded shares of Black Diamond Therapeutics to an "outperform" rating and set a $11.00 price objective on the stock in a research note on Tuesday, July 1st. Wall Street Zen raised shares of Black Diamond Therapeutics from a "hold" rating to a "buy" rating in a report on Saturday, June 14th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Black Diamond Therapeutics has an average rating of "Buy" and an average price target of $12.80.

Black Diamond Therapeutics Stock Up 4.1%

Shares of Black Diamond Therapeutics stock traded up $0.12 during trading on Wednesday, reaching $2.90. The company's stock had a trading volume of 443,776 shares, compared to its average volume of 2,085,751. The firm's 50-day moving average is $2.55 and its two-hundred day moving average is $2.12. Black Diamond Therapeutics, Inc. has a 52-week low of $1.20 and a 52-week high of $6.75. The company has a market cap of $164.61 million, a price-to-earnings ratio of 48.58 and a beta of 2.71.

Black Diamond Therapeutics Company 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.