Short Interest in Black Diamond Therapeutics, Inc. (NASDAQ:BDTX) Decreases By 6.2%

Black Diamond Therapeutics, Inc. (NASDAQ:BDTX) saw a large decline in short interest during the month of November. As of November 15th, there was short interest totalling 5,940,000 shares, a decline of 6.2% from the October 31st total of 6,330,000 shares. Based on an average trading volume of 1,180,000 shares, the short-interest ratio is currently 5.0 days.

Hedge Funds Weigh In On Black Diamond Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Walleye Capital LLC purchased a new stake in shares of Black Diamond Therapeutics during the 3rd quarter worth approximately $49,000. Intech Investment Management LLC purchased a new stake in Black Diamond Therapeutics during the third quarter valued at $56,000. Vontobel Holding Ltd. bought a new position in Black Diamond Therapeutics during the third quarter valued at $68,000. MetLife Investment Management LLC grew its stake in shares of Black Diamond Therapeutics by 129.1% in the 3rd quarter. MetLife Investment Management LLC now owns 22,286 shares of the company’s stock worth $97,000 after buying an additional 12,557 shares in the last quarter. Finally, SG Americas Securities LLC bought a new position in shares of Black Diamond Therapeutics in the 2nd quarter valued at about $108,000. 95.47% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have commented on BDTX shares. Piper Sandler lifted their target price on Black Diamond Therapeutics from $12.00 to $15.00 and gave the stock an “overweight” rating in a report on Monday, September 23rd. Wedbush reissued an “outperform” rating and issued a $16.00 target price on shares of Black Diamond Therapeutics in a research report on Tuesday, October 8th. Finally, HC Wainwright reissued a “buy” rating and set a $11.00 price objective on shares of Black Diamond Therapeutics in a report on Wednesday, November 6th.

Black Diamond Therapeutics Price Performance

Shares of BDTX stock traded down $0.04 during mid-day trading on Tuesday, hitting $2.55. The company had a trading volume of 101,360 shares, compared to its average volume of 792,792. The stock’s 50 day moving average price is $3.21 and its 200-day moving average price is $4.61. Black Diamond Therapeutics has a 52-week low of $2.23 and a 52-week high of $7.66.

Black Diamond Therapeutics (NASDAQ:BDTX) last announced its quarterly earnings results on Tuesday, November 5th. The company reported ($0.28) EPS for the quarter, topping the consensus estimate of ($0.37) by $0.09. On average, equities analysts anticipate that Black Diamond Therapeutics will post -1.3 EPS for the current fiscal year.

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.