Black Diamond Therapeutics, Inc. (NASDAQ:BDTX) Shares Purchased by Tang Capital Management LLC

Tang Capital Management LLC grew its stake in shares of Black Diamond Therapeutics, Inc. (NASDAQ:BDTX - Free Report) by 51.1% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,070,209 shares of the company's stock after purchasing an additional 700,000 shares during the period. Tang Capital Management LLC owned approximately 3.66% of Black Diamond Therapeutics worth $4,430,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in BDTX. Geode Capital Management LLC lifted its stake in shares of Black Diamond Therapeutics by 1.5% in the fourth quarter. Geode Capital Management LLC now owns 959,316 shares of the company's stock valued at $2,053,000 after purchasing an additional 14,439 shares during the period. Renaissance Technologies LLC boosted its holdings in Black Diamond Therapeutics by 256.2% during the fourth quarter. Renaissance Technologies LLC now owns 904,000 shares of the company's stock worth $1,935,000 after buying an additional 650,200 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Black Diamond Therapeutics by 158.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 661,436 shares of the company's stock worth $1,416,000 after buying an additional 405,579 shares in the last quarter. Affinity Asset Advisors LLC acquired a new stake in shares of Black Diamond Therapeutics during the 4th quarter valued at approximately $1,197,000. Finally, Millennium Management LLC boosted its stake in shares of Black Diamond Therapeutics by 503.0% during the 4th quarter. Millennium Management LLC now owns 558,076 shares of the company's stock worth $1,194,000 after acquiring an additional 465,531 shares in the last quarter. 95.47% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Black Diamond Therapeutics

In other Black Diamond Therapeutics news, major shareholder Growth N. V. Biotech sold 5,784,292 shares of Black Diamond Therapeutics stock in a transaction that occurred 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 directly owns 2,733,547 shares of the company's stock, valued at approximately $5,658,442.29. The trade was a 67.91% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 8.87% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. HC Wainwright raised their price objective on Black Diamond Therapeutics from $11.00 to $12.00 and gave the company a "buy" rating in a research note on Tuesday, March 18th. Wedbush restated an "outperform" rating and issued a $11.00 price target on shares of Black Diamond Therapeutics in a research report on Wednesday, March 19th. Finally, Stifel Nicolaus decreased their price objective on shares of Black Diamond Therapeutics from $16.00 to $15.00 and set a "buy" rating on the stock in a research report on Friday, March 7th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $14.60.

Black Diamond Therapeutics Stock Down 6.5%

Shares of Black Diamond Therapeutics stock traded down $0.14 during trading on Wednesday, hitting $2.03. 1,018,237 shares of the company were exchanged, compared to its average volume of 1,498,384. The firm has a 50 day moving average price of $1.62 and a 200 day moving average price of $2.11. The stock has a market capitalization of $115.43 million, a price-to-earnings ratio of -1.53 and a beta of 2.63. Black Diamond Therapeutics, Inc. has a fifty-two week low of $1.20 and a fifty-two week high of $6.75.

Black Diamond Therapeutics (NASDAQ:BDTX - Get Free Report) last released its quarterly earnings results on Thursday, March 6th. The company reported ($0.28) earnings per share for the quarter, topping analysts' consensus estimates of ($0.31) by $0.03. Analysts predict that Black Diamond Therapeutics, Inc. will post -1.3 earnings per share for the current year.

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.