Renaissance Technologies LLC Raises Position in Black Diamond Therapeutics, Inc. (NASDAQ:BDTX)

Renaissance Technologies LLC lifted its position in shares of Black Diamond Therapeutics, Inc. (NASDAQ:BDTX - Free Report) by 256.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 904,000 shares of the company's stock after purchasing an additional 650,200 shares during the quarter. Renaissance Technologies LLC owned 1.60% of Black Diamond Therapeutics worth $1,935,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Intech Investment Management LLC grew its stake in Black Diamond Therapeutics by 49.1% in the 4th quarter. Intech Investment Management LLC now owns 19,247 shares of the company's stock valued at $41,000 after acquiring an additional 6,340 shares during the period. JPMorgan Chase & Co. grew its stake in Black Diamond Therapeutics by 429.6% in the 4th quarter. JPMorgan Chase & Co. now owns 18,929 shares of the company's stock valued at $41,000 after acquiring an additional 15,355 shares during the period. SG Americas Securities LLC acquired a new stake in Black Diamond Therapeutics in the 4th quarter valued at $42,000. Wells Fargo & Company MN grew its stake in Black Diamond Therapeutics by 41.8% in the 4th quarter. Wells Fargo & Company MN now owns 20,119 shares of the company's stock valued at $43,000 after acquiring an additional 5,932 shares during the period. Finally, Sei Investments Co. acquired a new stake in Black Diamond Therapeutics in the 4th quarter valued at $49,000. Institutional investors and hedge funds own 95.47% of the company's stock.

Insider Activity

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

Black Diamond Therapeutics Stock Up 0.6 %

Black Diamond Therapeutics stock traded up $0.01 during mid-day trading on Monday, reaching $1.60. 663,128 shares of the company's stock were exchanged, compared to its average volume of 1,484,935. The company has a market cap of $90.68 million, a P/E ratio of -1.20 and a beta of 2.81. Black Diamond Therapeutics, Inc. has a twelve month low of $1.20 and a twelve month high of $7.66. The company has a fifty day moving average of $1.68 and a 200-day moving average of $2.26.

Black Diamond Therapeutics (NASDAQ:BDTX - Get Free Report) last released its earnings results on Thursday, March 6th. The company reported ($0.28) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.31) by $0.03. Equities research analysts expect that Black Diamond Therapeutics, Inc. will post -1.3 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on BDTX shares. Stifel Nicolaus decreased their price objective on Black Diamond Therapeutics from $16.00 to $15.00 and set a "buy" rating on the stock in a report on Friday, March 7th. HC Wainwright boosted their price objective 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. Finally, Wedbush restated an "outperform" rating and issued a $11.00 price objective on shares of Black Diamond Therapeutics in a report on Wednesday, March 19th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $14.60.

Black Diamond Therapeutics Profile

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.