Bellevue Group AG Lowers Stock Position in Black Diamond Therapeutics, Inc. (NASDAQ:BDTX)

Bellevue Group AG reduced its stake in shares of Black Diamond Therapeutics, Inc. (NASDAQ:BDTX) by 0.2% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 8,517,839 shares of the company’s stock after selling 18,000 shares during the period. Bellevue Group AG owned approximately 15.14% of Black Diamond Therapeutics worth $43,185,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in BDTX. Susquehanna Fundamental Investments LLC purchased a new position in Black Diamond Therapeutics in the 1st quarter worth approximately $82,000. Jump Financial LLC lifted its holdings in Black Diamond Therapeutics by 245.0% in the 4th quarter. Jump Financial LLC now owns 38,888 shares of the company’s stock worth $109,000 after purchasing an additional 27,616 shares during the last quarter. Pale Fire Capital SE bought a new position in Black Diamond Therapeutics in the 4th quarter worth approximately $144,000. Citigroup Inc. bought a new stake in shares of Black Diamond Therapeutics during the third quarter valued at approximately $176,000. Finally, Cornercap Investment Counsel Inc. acquired a new position in Black Diamond Therapeutics in the fourth quarter worth $233,000. Institutional investors and hedge funds own 95.47% of the company’s stock.

Black Diamond Therapeutics Stock Down 0.5 %

Black Diamond Therapeutics stock traded down $0.03 during midday trading on Friday, reaching $6.20. The stock had a trading volume of 226,656 shares, compared to its average volume of 752,433. The firm has a market cap of $348.75 million, a price-to-earnings ratio of -3.73 and a beta of 2.49. The company has a fifty day moving average of $5.19 and a 200 day moving average of $4.89. Black Diamond Therapeutics, Inc. has a 52-week low of $1.62 and a 52-week high of $7.66.

Black Diamond Therapeutics (NASDAQ:BDTX) last posted its quarterly earnings results on Thursday, May 9th. The company reported ($0.35) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.09. Equities research analysts predict that Black Diamond Therapeutics, Inc. will post -1.47 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on BDTX. Wedbush increased their price objective on Black Diamond Therapeutics from $10.00 to $16.00 and gave the stock an “outperform” rating in a report on Monday, April 8th. Piper Sandler reiterated an “overweight” rating and issued a $12.00 price objective on shares of Black Diamond Therapeutics in a research note on Wednesday, July 3rd. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $11.00 price target on shares of Black Diamond Therapeutics in a report on Friday, June 7th.

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.