Black Diamond Therapeutics, Inc. (NASDAQ:BDTX – Get Free Report) was the recipient of a large drop in short interest in July. As of July 31st, there was short interest totalling 4,440,000 shares, a drop of 6.1% from the July 15th total of 4,730,000 shares. Based on an average daily trading volume, of 689,200 shares, the days-to-cover ratio is presently 6.4 days.
Wall Street Analyst Weigh In
Several equities research analysts have commented on BDTX shares. Piper Sandler reiterated an “overweight” rating and set a $12.00 price objective on shares of Black Diamond Therapeutics in a research note on Wednesday, July 3rd. HC Wainwright reissued a “buy” rating and issued a $11.00 price objective on shares of Black Diamond Therapeutics in a research note on Friday, June 7th. Wedbush reaffirmed an “outperform” rating and set a $16.00 target price on shares of Black Diamond Therapeutics in a research note on Wednesday, August 7th. Finally, Raymond James began coverage on shares of Black Diamond Therapeutics in a research report on Wednesday, July 31st. They issued an “outperform” rating and a $20.00 target price for the company.
Check Out Our Latest Stock Report on Black Diamond Therapeutics
Black Diamond Therapeutics Stock Performance
Institutional Inflows and Outflows
Institutional investors have recently modified their holdings of the stock. Susquehanna Fundamental Investments LLC purchased a new position in Black Diamond Therapeutics during the first quarter worth about $82,000. SG Americas Securities LLC purchased a new stake in shares of Black Diamond Therapeutics during the 2nd quarter valued at approximately $108,000. Algert Global LLC acquired a new position in Black Diamond Therapeutics in the second quarter valued at approximately $133,000. Jump Financial LLC grew its position in Black Diamond Therapeutics by 245.0% in the fourth quarter. Jump Financial LLC now owns 38,888 shares of the company’s stock worth $109,000 after acquiring an additional 27,616 shares during the period. Finally, Rhumbline Advisers grew its position in Black Diamond Therapeutics by 10,334.3% in the second quarter. Rhumbline Advisers now owns 46,850 shares of the company’s stock worth $218,000 after acquiring an additional 46,401 shares during the period. Hedge funds and other institutional investors own 95.47% of the company’s stock.
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.
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