Stock Traders Buy High Volume of Call Options on Black Diamond Therapeutics (NASDAQ:BDTX)

Black Diamond Therapeutics, Inc. (NASDAQ:BDTX - Get Free Report) saw some unusual options trading on Wednesday. Traders purchased 1,853 call options on the stock. This is an increase of approximately 1,419% compared to the typical volume of 122 call options.

Insider Activity at Black Diamond Therapeutics

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

Institutional Investors Weigh In On Black Diamond Therapeutics

Institutional investors have recently bought and sold shares of the stock. D. E. Shaw & Co. Inc. bought a new stake in Black Diamond Therapeutics in the fourth quarter valued at approximately $37,000. Intech Investment Management LLC increased its stake in shares of Black Diamond Therapeutics by 49.1% in the fourth quarter. Intech Investment Management LLC now owns 19,247 shares of the company's stock worth $41,000 after buying an additional 6,340 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Black Diamond Therapeutics by 429.6% in the fourth quarter. JPMorgan Chase & Co. now owns 18,929 shares of the company's stock worth $41,000 after buying an additional 15,355 shares during the period. SG Americas Securities LLC bought a new stake in Black Diamond Therapeutics during the 4th quarter valued at $42,000. Finally, Wells Fargo & Company MN boosted its position in Black Diamond Therapeutics by 41.8% during the 4th quarter. Wells Fargo & Company MN now owns 20,119 shares of the company's stock valued at $43,000 after buying an additional 5,932 shares during the period. 95.47% of the stock is currently owned by hedge funds and other institutional investors.

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Wall Street Analysts Forecast Growth

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

Black Diamond Therapeutics Stock Down 5.3 %

Shares of Black Diamond Therapeutics stock traded down $0.10 during trading on Friday, reaching $1.78. The company's stock had a trading volume of 5,916,558 shares, compared to its average volume of 1,376,300. Black Diamond Therapeutics has a 52-week low of $1.59 and a 52-week high of $7.66. The firm's 50-day moving average is $2.16 and its two-hundred day moving average is $2.85. The company has a market cap of $100.86 million, a price-to-earnings ratio of -1.34 and a beta of 2.52.

Black Diamond Therapeutics (NASDAQ:BDTX - Get Free Report) last posted its quarterly earnings results on Thursday, March 6th. The company reported ($0.28) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.31) by $0.03. On average, equities research analysts anticipate that Black Diamond Therapeutics 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.