Renaissance Technologies LLC Has $3.50 Million Position in Black Diamond Therapeutics, Inc. $BDTX

Renaissance Technologies LLC increased its stake in Black Diamond Therapeutics, Inc. (NASDAQ:BDTX) by 73.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,643,747 shares of the company’s stock after purchasing an additional 694,012 shares during the period. Renaissance Technologies LLC’s holdings in Black Diamond Therapeutics were worth $3,501,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Invesco Ltd. boosted its position in Black Diamond Therapeutics by 152.5% in the 1st quarter. Invesco Ltd. now owns 45,989 shares of the company’s stock valued at $71,000 after buying an additional 27,777 shares during the last quarter. AQR Capital Management LLC bought a new stake in shares of Black Diamond Therapeutics during the first quarter worth $84,000. American Century Companies Inc. acquired a new position in shares of Black Diamond Therapeutics during the second quarter valued at $30,000. Prudential Financial Inc. acquired a new position in shares of Black Diamond Therapeutics during the second quarter valued at $32,000. Finally, Arrowstreet Capital Limited Partnership bought a new position in Black Diamond Therapeutics in the second quarter valued at about $343,000. Institutional investors and hedge funds own 95.47% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on BDTX. Jefferies Financial Group reiterated a “buy” rating on shares of Black Diamond Therapeutics in a research report on Thursday. Weiss Ratings downgraded shares of Black Diamond Therapeutics from a “sell (d)” rating to a “sell (d-)” rating in a research report on Monday, July 13th. BTIG Research raised their target price on shares of Black Diamond Therapeutics from $10.00 to $11.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. HC Wainwright reissued a “buy” rating on shares of Black Diamond Therapeutics in a research note on Friday, May 22nd. Finally, Wall Street Zen lowered shares of Black Diamond Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Eight investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Black Diamond Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus target price of $9.83.

Black Diamond Therapeutics Stock Up 1.6%

Shares of Black Diamond Therapeutics stock opened at $1.95 on Friday. Black Diamond Therapeutics, Inc. has a 12 month low of $1.60 and a 12 month high of $4.94. The business has a fifty day simple moving average of $1.84 and a 200 day simple moving average of $2.27. The stock has a market cap of $111.73 million, a PE ratio of -2.60 and a beta of 3.28.

Black Diamond Therapeutics (NASDAQ:BDTX) last released its earnings results on Wednesday, August 5th. The company reported ($0.17) earnings per share for the quarter, beating the consensus estimate of ($0.20) by $0.03. Analysts expect that Black Diamond Therapeutics, Inc. will post -0.6 EPS for the current fiscal year.

Black Diamond Therapeutics Profile

Black Diamond Therapeutics, Inc is a precision oncology company focused on the discovery and development of small-molecule therapies that selectively target oncogenic proteins bearing tumor-driving mutations. Leveraging its proprietary Genetic Defined Allosteric (GDA) therapeutic platform, the company aims to identify unique allosteric binding sites in mutant proteins and engineer highly selective inhibitors. Headquartered in Cambridge, Massachusetts, Black Diamond applies structure-based drug design and molecular modeling to advance personalized cancer treatments.

The company’s development pipeline includes lead candidate BDTX-189, an allosteric inhibitor of mutant HER2, as well as programs directed at clinically relevant EGFR and KRAS mutations.