Black Diamond Therapeutics, Inc. (NASDAQ:BDTX) Sees Significant Growth in Short Interest

Black Diamond Therapeutics, Inc. (NASDAQ:BDTX - Get Free Report) was the recipient of a significant growth in short interest during the month of March. As of March 31st, there was short interest totalling 2,040,000 shares, a growth of 12.7% from the March 15th total of 1,810,000 shares. Based on an average daily volume of 592,500 shares, the short-interest ratio is currently 3.4 days.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Wedbush upped their target price on shares of Black Diamond Therapeutics from $10.00 to $16.00 and gave the company an "outperform" rating in a report on Monday, April 8th. HC Wainwright reaffirmed a "buy" rating and set a $12.00 target price (up from $11.00) on shares of Black Diamond Therapeutics in a report on Monday, March 18th.

Hedge Funds Weigh In On Black Diamond Therapeutics

Several institutional investors have recently bought and sold shares of the business. Goldman Sachs Group Inc. bought a new position in Black Diamond Therapeutics during the fourth quarter valued at $129,000. Blue Owl Capital Holdings LP purchased a new stake in shares of Black Diamond Therapeutics in the fourth quarter valued at $1,953,000. Newtyn Management LLC raised its stake in shares of Black Diamond Therapeutics by 36.6% in the fourth quarter. Newtyn Management LLC now owns 280,000 shares of the company's stock valued at $787,000 after acquiring an additional 75,000 shares during the period. Bridgeway Capital Management LLC raised its stake in shares of Black Diamond Therapeutics by 51.8% in the fourth quarter. Bridgeway Capital Management LLC now owns 192,000 shares of the company's stock valued at $540,000 after acquiring an additional 65,500 shares during the period. Finally, Bellevue Group AG raised its stake in shares of Black Diamond Therapeutics by 4.9% in the fourth quarter. Bellevue Group AG now owns 8,535,839 shares of the company's stock valued at $23,986,000 after acquiring an additional 400,000 shares during the period. Institutional investors own 95.47% of the company's stock.

Black Diamond Therapeutics Trading Down 5.9 %

Shares of NASDAQ:BDTX traded down $0.33 during midday trading on Friday, reaching $5.24. 475,633 shares of the company were exchanged, compared to its average volume of 483,118. The business's fifty day moving average is $4.75 and its two-hundred day moving average is $3.33. Black Diamond Therapeutics has a one year low of $1.43 and a one year high of $6.85. The stock has a market cap of $271.01 million, a PE ratio of -2.79 and a beta of 2.64.

Black Diamond Therapeutics (NASDAQ:BDTX - Get Free Report) last issued its earnings results on Tuesday, March 12th. The company reported ($0.34) earnings per share for the quarter, topping analysts' consensus estimates of ($0.47) by $0.13. As a group, sell-side analysts expect that Black Diamond Therapeutics will post -1.71 EPS for the current year.

About Black Diamond Therapeutics

Black Diamond Therapeutics, Inc, a clinical-stage precision oncology medicine company, focuses on the discovery and development of therapies for patients with genetically defined cancers. The company's lead product candidate, BDTX-1535, a brain-penetrant, mutant selective, irreversible EGFR MasterKey inhibitor, designed to inhibit a family of oncogenic mutations, currently under Phase 1 clinical trial.