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

Black Diamond Therapeutics, Inc. (NASDAQ:BDTX) saw a large decrease in short interest in the month of October. As of October 31st, there was short interest totalling 6,330,000 shares, a decrease of 13.5% from the October 15th total of 7,320,000 shares. Based on an average daily trading volume, of 1,210,000 shares, the days-to-cover ratio is currently 5.2 days.

Black Diamond Therapeutics Trading Down 8.1 %

Shares of Black Diamond Therapeutics stock traded down $0.23 during trading hours on Friday, reaching $2.62. The stock had a trading volume of 442,206 shares, compared to its average volume of 598,251. Black Diamond Therapeutics has a twelve month low of $2.09 and a twelve month high of $7.66. The stock’s 50 day moving average is $3.83 and its 200 day moving average is $4.91.

Black Diamond Therapeutics (NASDAQ:BDTX) last issued its quarterly earnings results on Tuesday, November 5th. The company reported ($0.28) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.37) by $0.09. As a group, equities analysts predict that Black Diamond Therapeutics will post -1.3 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on BDTX. Wedbush reiterated an “outperform” rating and issued a $16.00 price objective on shares of Black Diamond Therapeutics in a research note on Tuesday, October 8th. Raymond James began coverage on Black Diamond Therapeutics in a research note on Wednesday, July 31st. They set an “outperform” rating and a $20.00 price objective for the company. Piper Sandler upped their target price on Black Diamond Therapeutics from $12.00 to $15.00 and gave the stock an “overweight” rating in a research note on Monday, September 23rd. Finally, HC Wainwright reiterated a “buy” rating and set a $11.00 price target on shares of Black Diamond Therapeutics in a research report on Wednesday, November 6th.

Institutional Investors Weigh In On Black Diamond Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. grew its position in shares of Black Diamond Therapeutics by 6.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 109,224 shares of the company’s stock valued at $475,000 after purchasing an additional 7,021 shares during the period. Walleye Capital LLC purchased a new stake in Black Diamond Therapeutics during the 3rd quarter worth approximately $49,000. MetLife Investment Management LLC raised its holdings in shares of Black Diamond Therapeutics by 129.1% during the third quarter. MetLife Investment Management LLC now owns 22,286 shares of the company’s stock valued at $97,000 after acquiring an additional 12,557 shares during the last quarter. Intech Investment Management LLC purchased a new position in shares of Black Diamond Therapeutics in the third quarter valued at approximately $56,000. Finally, Vontobel Holding Ltd. acquired a new stake in shares of Black Diamond Therapeutics in the third quarter worth approximately $68,000. Hedge funds and other institutional investors own 95.47% of the company’s stock.

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.