Black Diamond Therapeutics, Inc. (NASDAQ:BDTX) Short Interest Update

Black Diamond Therapeutics, Inc. (NASDAQ:BDTX) saw a large growth in short interest in the month of July. As of July 15th, there was short interest totalling 4,730,000 shares, a growth of 47.4% from the June 30th total of 3,210,000 shares. Based on an average daily volume of 760,200 shares, the days-to-cover ratio is presently 6.2 days.

Black Diamond Therapeutics Trading Down 0.5 %

Black Diamond Therapeutics stock traded down $0.03 during midday trading on Friday, reaching $6.20. The stock had a trading volume of 226,656 shares, compared to its average volume of 752,433. Black Diamond Therapeutics has a 12 month low of $1.62 and a 12 month high of $7.66. The company has a market capitalization of $348.75 million, a P/E ratio of -3.73 and a beta of 2.49. The company has a fifty day moving average price of $5.19 and a two-hundred day moving average price of $4.89.

Black Diamond Therapeutics (NASDAQ:BDTX) last issued its earnings results on Thursday, May 9th. The company reported ($0.35) EPS for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.09. On average, equities research analysts predict that Black Diamond Therapeutics will post -1.47 earnings per share for the current fiscal year.

Institutional Trading of Black Diamond Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Susquehanna Fundamental Investments LLC bought a new stake in Black Diamond Therapeutics in the 1st quarter valued at about $82,000. SG Americas Securities LLC bought a new stake in Black Diamond Therapeutics during the 2nd quarter worth approximately $108,000. Jump Financial LLC increased its holdings in Black Diamond Therapeutics by 245.0% during the 4th quarter. Jump Financial LLC now owns 38,888 shares of the company’s stock worth $109,000 after purchasing an additional 27,616 shares in the last quarter. Pale Fire Capital SE bought a new stake in Black Diamond Therapeutics during the 4th quarter worth approximately $144,000. Finally, Citigroup Inc. bought a new stake in Black Diamond Therapeutics during the 3rd quarter worth approximately $176,000. 95.47% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Piper Sandler reissued an “overweight” rating and issued a $12.00 price objective on shares of Black Diamond Therapeutics in a research note on Wednesday, July 3rd. Wedbush boosted their price objective on Black Diamond Therapeutics from $10.00 to $16.00 and gave the company an “outperform” rating in a research note on Monday, April 8th. Finally, 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.

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.