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

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

Other hedge funds have also added to or reduced their stakes in the company. D. E. Shaw & Co. Inc. bought a new stake in Black Diamond Therapeutics in the fourth quarter worth $37,000. JPMorgan Chase & Co. lifted its stake in Black Diamond Therapeutics by 429.6% in the fourth quarter. JPMorgan Chase & Co. now owns 18,929 shares of the company's stock worth $41,000 after purchasing an additional 15,355 shares during the last quarter. Intech Investment Management LLC lifted its stake 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 last quarter. SG Americas Securities LLC bought a new stake in Black Diamond Therapeutics in the fourth quarter worth $42,000. Finally, Wells Fargo & Company MN lifted its stake in Black Diamond Therapeutics by 41.8% in the fourth quarter. Wells Fargo & Company MN now owns 20,119 shares of the company's stock worth $43,000 after purchasing an additional 5,932 shares during the last quarter. 95.47% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on BDTX. HC Wainwright upped their price objective 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. Wall Street Zen raised shares of Black Diamond Therapeutics from a "hold" rating to a "buy" rating in a research note on Thursday. Stifel Nicolaus lowered their price objective on shares of 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. Finally, 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. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Black Diamond Therapeutics currently has a consensus rating of "Buy" and a consensus target price of $14.60.

Black Diamond Therapeutics Stock Performance

Shares of NASDAQ BDTX traded down $0.05 during midday trading on Friday, hitting $2.01. 717,264 shares of the company traded hands, compared to its average volume of 1,498,497. Black Diamond Therapeutics, Inc. has a 12-month low of $1.20 and a 12-month high of $6.75. The stock has a 50-day moving average price of $1.63 and a 200 day moving average price of $2.09. The firm has a market cap of $114.29 million, a P/E ratio of -1.51 and a beta of 2.63.

Black Diamond Therapeutics (NASDAQ:BDTX - Get Free Report) last announced its quarterly earnings results on Thursday, March 6th. The company reported ($0.28) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.31) by $0.03. As a group, equities analysts expect 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 business's stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $2.07, for a total transaction of $11,973,484.44. Following the transaction, the insider now owns 2,733,547 shares in the company, valued at $5,658,442.29. The trade was a 67.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 8.87% of the stock is owned by corporate insiders.

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.