Black Diamond Therapeutics, Inc. (NASDAQ:BDTX) Sees Large Decrease in Short Interest

Black Diamond Therapeutics, Inc. (NASDAQ:BDTX - Get Free Report) was the recipient of a large decline in short interest during the month of April. As of April 15th, there was short interest totalling 1,760,000 shares, a decline of 13.7% from the March 31st total of 2,040,000 shares. Based on an average daily volume of 629,900 shares, the days-to-cover ratio is currently 2.8 days.

Institutional Investors Weigh In On Black Diamond Therapeutics

Institutional investors have recently added to or reduced their stakes in the company. Jump Financial LLC acquired a new position in shares of Black Diamond Therapeutics during the third quarter worth about $32,000. Algert Global LLC acquired a new position in shares of Black Diamond Therapeutics during the third quarter worth about $57,000. Pale Fire Capital SE acquired a new position in shares of Black Diamond Therapeutics during the fourth quarter worth about $144,000. Citigroup Inc. acquired a new position in shares of Black Diamond Therapeutics during the third quarter worth about $176,000. Finally, Cornercap Investment Counsel Inc. acquired a new position in shares of Black Diamond Therapeutics during the fourth quarter worth about $233,000. Hedge funds and other institutional investors own 95.47% of the company's stock.

Analyst Ratings Changes

BDTX has been the subject of several analyst reports. Wedbush boosted their target price on shares of Black Diamond Therapeutics from $10.00 to $16.00 and gave the company an "outperform" rating in a research note on Monday, April 8th. HC Wainwright reissued a "buy" rating and issued a $12.00 target price (up from $11.00) on shares of Black Diamond Therapeutics in a research report on Monday, March 18th.

Black Diamond Therapeutics Stock Performance

Black Diamond Therapeutics stock traded up $0.78 during midday trading on Friday, reaching $5.89. The stock had a trading volume of 567,043 shares, compared to its average volume of 471,335. The stock's 50-day simple moving average is $4.93 and its 200 day simple moving average is $3.51. Black Diamond Therapeutics has a twelve month low of $1.43 and a twelve month high of $6.85. The stock has a market capitalization of $309.40 million, a PE ratio of -3.13 and a beta of 2.64.

Black Diamond Therapeutics (NASDAQ:BDTX - Get Free Report) last posted its quarterly earnings results on Tuesday, March 12th. The company reported ($0.34) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.47) by $0.13. Equities analysts predict that Black Diamond Therapeutics will post -1.71 earnings per share for the current fiscal year.

Black Diamond Therapeutics Company 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.