Kennedy Capital Management LLC Sells 223,243 Shares of Black Diamond Therapeutics, Inc. (NASDAQ:BDTX)

Kennedy Capital Management LLC trimmed its stake in Black Diamond Therapeutics, Inc. (NASDAQ:BDTX - Free Report) by 34.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 433,793 shares of the company's stock after selling 223,243 shares during the period. Kennedy Capital Management LLC owned about 0.77% of Black Diamond Therapeutics worth $928,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Raymond James Financial Inc. acquired a new stake in Black Diamond Therapeutics during the fourth quarter worth about $53,000. Renaissance Technologies LLC lifted its position in shares of Black Diamond Therapeutics by 256.2% in the 4th quarter. Renaissance Technologies LLC now owns 904,000 shares of the company's stock worth $1,935,000 after acquiring an additional 650,200 shares during the period. Wells Fargo & Company MN grew its holdings in shares of Black Diamond Therapeutics by 41.8% during the 4th quarter. Wells Fargo & Company MN now owns 20,119 shares of the company's stock worth $43,000 after purchasing an additional 5,932 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Black Diamond Therapeutics by 1.5% during the fourth quarter. Geode Capital Management LLC now owns 959,316 shares of the company's stock valued at $2,053,000 after purchasing an additional 14,439 shares during the period. Finally, Wellington Management Group LLP lifted its position in Black Diamond Therapeutics by 7.9% in the fourth quarter. Wellington Management Group LLP now owns 221,236 shares of the company's stock worth $473,000 after purchasing an additional 16,279 shares during the period. Institutional investors own 95.47% of the company's stock.

Insider Buying and Selling

In related news, major shareholder Growth N. V. Biotech sold 5,784,292 shares of the firm's stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $2.07, for a total value of $11,973,484.44. Following the transaction, the insider now owns 2,733,547 shares in the company, valued at $5,658,442.29. This trade represents a 67.91 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 8.87% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. HC Wainwright boosted their price target on shares of Black Diamond Therapeutics from $11.00 to $12.00 and gave the company a "buy" rating in a report on Tuesday, March 18th. Stifel Nicolaus lowered their target price on shares of Black Diamond Therapeutics from $16.00 to $15.00 and set a "buy" rating on the stock in a research note on Friday, March 7th. Finally, Wedbush restated an "outperform" rating and set a $11.00 price target on shares of Black Diamond Therapeutics in a research note on Wednesday, March 19th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $14.60.

Black Diamond Therapeutics Stock Performance

Shares of NASDAQ:BDTX traded up $0.08 on Friday, hitting $1.44. The stock had a trading volume of 662,839 shares, compared to its average volume of 1,482,117. The firm's 50 day moving average price is $1.75 and its 200-day moving average price is $2.33. Black Diamond Therapeutics, Inc. has a twelve month low of $1.20 and a twelve month high of $7.66. The company has a market capitalization of $81.59 million, a price-to-earnings ratio of -1.08 and a beta of 2.81.

Black Diamond Therapeutics (NASDAQ:BDTX - Get Free Report) last released its quarterly earnings results on Thursday, March 6th. The company reported ($0.28) EPS for the quarter, beating analysts' consensus estimates of ($0.31) by $0.03. As a group, sell-side analysts predict that Black Diamond Therapeutics, Inc. will post -1.3 EPS for the current 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.