Black Diamond Therapeutics, Inc. (NASDAQ:BDTX) Short Interest Update

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

Institutional Investors Weigh In On Black Diamond Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of BDTX. Jump Financial LLC purchased a new stake in shares of Black Diamond Therapeutics in the third quarter worth approximately $32,000. Barclays PLC increased its holdings in Black Diamond Therapeutics by 159.1% during the 3rd quarter. Barclays PLC now owns 322,246 shares of the company’s stock worth $925,000 after purchasing an additional 197,895 shares during the period. Algert Global LLC purchased a new position in Black Diamond Therapeutics during the 3rd quarter worth $57,000. Newtyn Management LLC increased its holdings in Black Diamond Therapeutics by 2.5% during the 3rd quarter. Newtyn Management LLC now owns 205,000 shares of the company’s stock worth $588,000 after purchasing an additional 5,000 shares during the period. Finally, Citigroup Inc. purchased a new position in Black Diamond Therapeutics during the 3rd quarter worth $176,000. 95.47% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently issued reports on BDTX. HC Wainwright reaffirmed a “buy” rating and issued a $12.00 price objective (up from $11.00) on shares of Black Diamond Therapeutics in a research note on Monday, March 18th. Wedbush raised their price objective on Black Diamond Therapeutics from $10.00 to $16.00 and gave the company an “outperform” rating in a research note on Monday, April 8th.

Black Diamond Therapeutics Trading Up 15.3 %

Shares of NASDAQ BDTX traded up $0.78 during midday trading on Friday, hitting $5.89. The company’s stock had a trading volume of 567,043 shares, compared to its average volume of 471,335. The business’s 50 day moving average is $4.93 and its two-hundred day moving average is $3.50. Black Diamond Therapeutics has a 12-month low of $1.43 and a 12-month high of $6.85.

Black Diamond Therapeutics (NASDAQ:BDTX) last issued its quarterly earnings results on Tuesday, March 12th. The company reported ($0.34) earnings per share for the quarter, topping the consensus estimate of ($0.47) by $0.13. On average, sell-side analysts expect that Black Diamond Therapeutics will post -1.71 earnings per share for the current year.

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.