Herbst Group LLC Takes Position in Black Diamond Therapeutics, Inc. (NASDAQ:BDTX)

Herbst Group LLC acquired a new stake in Black Diamond Therapeutics, Inc. (NASDAQ:BDTX) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 13,635 shares of the company’s stock, valued at approximately $69,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in BDTX. Cubist Systematic Strategies LLC boosted its position in Black Diamond Therapeutics by 25.8% during the second quarter. Cubist Systematic Strategies LLC now owns 15,804 shares of the company’s stock worth $39,000 after acquiring an additional 3,244 shares during the last quarter. AQR Capital Management LLC boosted its stake in Black Diamond Therapeutics by 34.4% during the second quarter. AQR Capital Management LLC now owns 18,663 shares of the company’s stock worth $46,000 after buying an additional 4,773 shares during the last quarter. Dimensional Fund Advisors LP acquired a new stake in shares of Black Diamond Therapeutics in the 3rd quarter worth $101,000. Goldman Sachs Group Inc. raised its holdings in shares of Black Diamond Therapeutics by 37.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 181,097 shares of the company’s stock worth $502,000 after acquiring an additional 48,941 shares during the period. Finally, EcoR1 Capital LLC acquired a new stake in Black Diamond Therapeutics during the fourth quarter worth about $508,000.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on BDTX. HC Wainwright raised Black Diamond Therapeutics from a “neutral” rating to a “buy” rating and set a $11.00 price objective for the company in a research report on Wednesday, June 28th. Piper Sandler began coverage on shares of Black Diamond Therapeutics in a research note on Friday, July 14th. They issued an “overweight” rating and a $11.00 price target on the stock. Stifel Nicolaus raised Black Diamond Therapeutics from a “hold” rating to a “buy” rating and upped their price objective for the stock from $2.00 to $10.00 in a research report on Thursday, June 29th. Finally, Wedbush reiterated an “outperform” rating and issued a $10.00 target price on shares of Black Diamond Therapeutics in a report on Tuesday, September 12th.

Insider Activity

In other news, major shareholder Growth N. V. Biotech acquired 1,740,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 27th. The stock was purchased at an average cost of $5.49 per share, with a total value of $9,552,600.00. Following the purchase, the insider now directly owns 7,117,839 shares of the company’s stock, valued at approximately $39,076,936.11. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, major shareholder Growth N. V. Biotech acquired 1,740,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 27th. The stock was purchased at an average cost of $5.49 per share, for a total transaction of $9,552,600.00. Following the transaction, the insider now directly owns 7,117,839 shares of the company’s stock, valued at approximately $39,076,936.11. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, major shareholder Growth N. V. Biotech bought 1,000,000 shares of Black Diamond Therapeutics stock in a transaction on Friday, June 30th. The stock was purchased at an average price of $5.00 per share, for a total transaction of $5,000,000.00. Following the completion of the acquisition, the insider now owns 8,117,839 shares in the company, valued at approximately $40,589,195. The disclosure for this purchase can be found here. In the last three months, insiders purchased 3,740,000 shares of company stock worth $19,552,600. Company insiders own 9.07% of the company’s stock.

Black Diamond Therapeutics Trading Up 1.4 %

BDTX stock traded up $0.05 on Tuesday, hitting $3.55. The company’s stock had a trading volume of 22,893 shares, compared to its average volume of 1,600,076. The stock has a market cap of $183.11 million, a price-to-earnings ratio of -1.54 and a beta of 2.47. Black Diamond Therapeutics, Inc. has a 1 year low of $1.18 and a 1 year high of $6.85. The firm has a 50 day moving average of $3.68 and a two-hundred day moving average of $2.68.

Black Diamond Therapeutics (NASDAQ:BDTX) last released its earnings results on Friday, August 11th. The company reported ($0.52) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.54) by $0.02. As a group, equities analysts forecast that Black Diamond Therapeutics, Inc. will post -2.08 EPS for the current fiscal year.

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.