Tang Capital Management LLC Purchases 700,000 Shares of Black Diamond Therapeutics, Inc. (NASDAQ:BDTX)

Tang Capital Management LLC increased its position in Black Diamond Therapeutics, Inc. (NASDAQ:BDTX - Free Report) by 51.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,070,209 shares of the company's stock after buying an additional 700,000 shares during the quarter. Tang Capital Management LLC owned about 3.66% of Black Diamond Therapeutics worth $4,430,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of BDTX. Bank of New York Mellon Corp grew 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 buying an additional 65,341 shares during the last quarter. Wellington Management Group LLP lifted its position in shares of Black Diamond Therapeutics by 7.9% during the 4th quarter. Wellington Management Group LLP now owns 221,236 shares of the company's stock valued at $473,000 after acquiring an additional 16,279 shares during the last quarter. Barclays PLC boosted its stake in shares of Black Diamond Therapeutics by 10.7% during the 4th quarter. Barclays PLC now owns 86,545 shares of the company's stock worth $186,000 after acquiring an additional 8,394 shares in the last quarter. Sei Investments Co. acquired a new position in shares of Black Diamond Therapeutics in the 4th quarter worth $49,000. Finally, Raymond James Financial Inc. acquired a new position in shares of Black Diamond Therapeutics in the 4th quarter worth $53,000. Institutional investors own 95.47% of the company's stock.

Black Diamond Therapeutics Stock Performance

Shares of BDTX stock traded down $0.08 on Friday, reaching $1.99. 364,292 shares of the company's stock traded hands, compared to its average volume of 1,493,276. The company has a market capitalization of $112.87 million, a P/E ratio of -1.48 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. The business's 50 day moving average price is $1.63 and its two-hundred day moving average price is $2.10.

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

Insider Activity at Black Diamond Therapeutics

In related news, major shareholder Growth N. V. Biotech sold 5,784,292 shares of the stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $2.07, for a total transaction of $11,973,484.44. Following the completion of the sale, the insider now directly owns 2,733,547 shares in the company, valued at approximately $5,658,442.29. This trade represents a 67.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 8.87% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

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

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.