Insider Selling: Black Diamond Therapeutics, Inc. (NASDAQ:BDTX) Major Shareholder Sells 5,784,292 Shares of Stock

Black Diamond Therapeutics, Inc. (NASDAQ:BDTX - Get Free Report) major shareholder Growth N. V. Biotech sold 5,784,292 shares of the company'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 completion of the sale, the insider now owns 2,733,547 shares of the company's stock, valued at approximately $5,658,442.29. The trade was a 67.91 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Major shareholders that own at least 10% of a company's stock are required to disclose their transactions with the SEC.

Black Diamond Therapeutics Trading Down 5.6 %

Shares of NASDAQ BDTX traded down $0.10 during midday trading on Monday, hitting $1.68. The company's stock had a trading volume of 3,533,871 shares, compared to its average volume of 1,385,229. The business's 50 day moving average is $2.16 and its two-hundred day moving average is $2.85. Black Diamond Therapeutics, Inc. has a 12-month low of $1.59 and a 12-month high of $7.66. The firm has a market cap of $95.19 million, a P/E ratio of -1.26 and a beta of 2.52.

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

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Wall Street Analysts Forecast Growth

BDTX has been the subject of a number of research analyst reports. Wedbush reaffirmed an "outperform" rating and set a $11.00 price objective on shares of Black Diamond Therapeutics in a report on Wednesday, March 19th. HC Wainwright lifted their target price on Black Diamond Therapeutics from $11.00 to $12.00 and gave the stock a "buy" rating in a report on Tuesday, March 18th. Finally, Stifel Nicolaus cut their price target on Black Diamond Therapeutics from $16.00 to $15.00 and set a "buy" rating for the company in a report on Friday, March 7th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has an average rating of "Buy" and an average price target of $14.60.

Hedge Funds Weigh In On Black Diamond Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in BDTX. Vestal Point Capital LP boosted its position in Black Diamond Therapeutics by 11.4% during the 4th quarter. Vestal Point Capital LP now owns 5,600,000 shares of the company's stock valued at $11,984,000 after acquiring an additional 571,500 shares in the last quarter. Tang Capital Management LLC lifted its stake in shares of Black Diamond Therapeutics by 51.1% during the 4th quarter. Tang Capital Management LLC now owns 2,070,209 shares of the company's stock worth $4,430,000 after purchasing an additional 700,000 shares during the last quarter. Geode Capital Management LLC boosted its position in 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 in the last quarter. Renaissance Technologies LLC grew its stake in Black Diamond Therapeutics by 256.2% in the fourth quarter. Renaissance Technologies LLC now owns 904,000 shares of the company's stock valued at $1,935,000 after purchasing an additional 650,200 shares during the last quarter. Finally, State Street Corp grew its stake in Black Diamond Therapeutics by 17.2% in the third quarter. State Street Corp now owns 809,196 shares of the company's stock valued at $3,520,000 after purchasing an additional 118,764 shares during the last quarter. Institutional investors own 95.47% of the company's stock.

Black Diamond Therapeutics Company 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.