Vestal Point Capital LP Boosts Stock Position in Black Diamond Therapeutics, Inc. (NASDAQ:BDTX)

Vestal Point Capital LP lifted its stake in Black Diamond Therapeutics, Inc. (NASDAQ:BDTX - Free Report) by 11.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,600,000 shares of the company's stock after purchasing an additional 571,500 shares during the quarter. Vestal Point Capital LP owned 9.90% of Black Diamond Therapeutics worth $11,984,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of BDTX. D. E. Shaw & Co. Inc. bought a new position in shares of Black Diamond Therapeutics in the fourth quarter worth approximately $37,000. JPMorgan Chase & Co. raised its holdings in Black Diamond Therapeutics by 429.6% in the 4th quarter. JPMorgan Chase & Co. now owns 18,929 shares of the company's stock worth $41,000 after acquiring an additional 15,355 shares during the last quarter. Intech Investment Management LLC boosted its stake in Black Diamond Therapeutics by 49.1% during the 4th quarter. Intech Investment Management LLC now owns 19,247 shares of the company's stock valued at $41,000 after purchasing an additional 6,340 shares during the last quarter. SG Americas Securities LLC purchased a new position in shares of Black Diamond Therapeutics in the fourth quarter worth $42,000. Finally, Wells Fargo & Company MN lifted its holdings in shares of Black Diamond Therapeutics by 41.8% during the fourth quarter. Wells Fargo & Company MN now owns 20,119 shares of the company's stock valued at $43,000 after purchasing an additional 5,932 shares in the last quarter. Institutional investors own 95.47% of the company's stock.

Insiders Place Their Bets

In related 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 stock was sold at an average price of $2.07, for a total transaction of $11,973,484.44. Following the sale, the insider now owns 2,733,547 shares of the company's stock, valued at approximately $5,658,442.29. This trade represents a 67.91% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 8.87% of the stock is currently owned by company insiders.

Black Diamond Therapeutics Stock Up 1.5%

BDTX traded up $0.03 during midday trading on Thursday, reaching $2.06. The company had a trading volume of 759,583 shares, compared to its average volume of 1,497,720. Black Diamond Therapeutics, Inc. has a 1 year low of $1.20 and a 1 year high of $6.75. The company has a market cap of $117.14 million, a P/E ratio of -1.55 and a beta of 2.63. The business has a 50-day moving average of $1.63 and a two-hundred day moving average of $2.10.

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

Analyst Upgrades and Downgrades

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