Short Interest in Black Diamond Therapeutics, Inc. (NASDAQ:BDTX) Rises By 12.7%

Black Diamond Therapeutics, Inc. (NASDAQ:BDTX) was the recipient of a significant growth in short interest during the month of March. As of March 31st, there was short interest totalling 2,040,000 shares, a growth of 12.7% from the March 15th total of 1,810,000 shares. Based on an average trading volume of 592,500 shares, the days-to-cover ratio is presently 3.4 days.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on BDTX. HC Wainwright reiterated a “buy” rating and issued a $12.00 target price (up from $11.00) on shares of Black Diamond Therapeutics in a research note on Monday, March 18th. Wedbush lifted 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.

Black Diamond Therapeutics Stock Performance

Shares of Black Diamond Therapeutics stock traded up $0.17 on Tuesday, reaching $5.39. The stock had a trading volume of 190,002 shares, compared to its average volume of 567,479. The business’s 50-day moving average price is $4.78 and its two-hundred day moving average price is $3.34. Black Diamond Therapeutics has a fifty-two week low of $1.43 and a fifty-two week high of $6.85. The stock has a market cap of $278.76 million, a P/E ratio of -2.80 and a beta of 2.64.

Black Diamond Therapeutics (NASDAQ:BDTX) last issued its quarterly earnings data on Tuesday, March 12th. The company reported ($0.34) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.47) by $0.13. As a group, equities analysts forecast that Black Diamond Therapeutics will post -1.71 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Black Diamond Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of BDTX. Jump Financial LLC bought a new stake in Black Diamond Therapeutics in the 3rd quarter valued at $32,000. Cubist Systematic Strategies LLC boosted its stake in shares of Black Diamond Therapeutics by 25.8% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 15,804 shares of the company’s stock valued at $39,000 after purchasing an additional 3,244 shares in the last quarter. Walleye Capital LLC acquired a new stake in shares of Black Diamond Therapeutics in the 3rd quarter valued at $44,000. AQR Capital Management LLC boosted its stake in shares of Black Diamond Therapeutics by 34.4% in the 2nd quarter. AQR Capital Management LLC now owns 18,663 shares of the company’s stock valued at $46,000 after purchasing an additional 4,773 shares in the last quarter. Finally, Algert Global LLC acquired a new stake in shares of Black Diamond Therapeutics in the 3rd quarter valued at $57,000. Institutional investors own 95.47% of the company’s stock.

Black Diamond Therapeutics Company Profile

Black Diamond Therapeutics, Inc, a clinical-stage precision oncology medicine company, focuses on the discovery and development of therapies for patients with genetically defined cancers. The company's lead product candidate, BDTX-1535, a brain-penetrant, mutant selective, irreversible EGFR MasterKey inhibitor, designed to inhibit a family of oncogenic mutations, currently under Phase 1 clinical trial.