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

Black Diamond Therapeutics, Inc. (NASDAQ:BDTX) saw a significant growth in short interest during the month of September. As of September 30th, there was short interest totalling 6,910,000 shares, a growth of 17.9% from the September 15th total of 5,860,000 shares. Based on an average trading volume of 1,120,000 shares, the short-interest ratio is presently 6.2 days.

Black Diamond Therapeutics Stock Performance

NASDAQ BDTX traded down $0.10 during trading hours on Tuesday, reaching $3.38. The stock had a trading volume of 218,998 shares, compared to its average volume of 831,528. Black Diamond Therapeutics has a 52-week low of $1.62 and a 52-week high of $7.66. The stock has a market cap of $190.14 million, a P/E ratio of -2.10 and a beta of 2.47. The stock has a fifty day moving average of $5.04 and a 200 day moving average of $5.27.

Black Diamond Therapeutics (NASDAQ:BDTX) last released its quarterly earnings data on Tuesday, August 6th. The company reported ($0.36) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.39) by $0.03. On average, equities research analysts forecast that Black Diamond Therapeutics will post -1.44 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Raymond James assumed coverage on Black Diamond Therapeutics in a research report on Wednesday, July 31st. They set an “outperform” rating and a $20.00 target price on the stock. Piper Sandler increased their price objective on shares of Black Diamond Therapeutics from $12.00 to $15.00 and gave the company an “overweight” rating in a research report on Monday, September 23rd. HC Wainwright reiterated a “buy” rating and issued a $11.00 target price on shares of Black Diamond Therapeutics in a research note on Wednesday, October 9th. Finally, Wedbush restated an “outperform” rating and set a $16.00 price target on shares of Black Diamond Therapeutics in a research note on Tuesday, October 8th.

Institutional Investors Weigh In On Black Diamond Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Affinity Asset Advisors LLC purchased a new stake in shares of Black Diamond Therapeutics in the second quarter worth about $3,029,000. TD Asset Management Inc boosted its position in Black Diamond Therapeutics by 275.9% in the 2nd quarter. TD Asset Management Inc now owns 266,312 shares of the company’s stock worth $1,241,000 after purchasing an additional 195,464 shares in the last quarter. Ally Bridge Group NY LLC purchased a new stake in Black Diamond Therapeutics in the 2nd quarter worth approximately $3,891,000. Acadian Asset Management LLC grew its stake in shares of Black Diamond Therapeutics by 13.8% during the 1st quarter. Acadian Asset Management LLC now owns 170,510 shares of the company’s stock worth $864,000 after purchasing an additional 20,616 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Black Diamond Therapeutics by 79.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 200,044 shares of the company’s stock valued at $932,000 after purchasing an additional 88,378 shares in the last quarter. 95.47% of the stock is owned by institutional investors and hedge funds.

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.