Point72 Asset Management L.P. Takes $3.03 Million Position in Black Diamond Therapeutics, Inc. (NASDAQ:BDTX)

Point72 Asset Management L.P. acquired a new stake in shares of Black Diamond Therapeutics, Inc. (NASDAQ:BDTX - Free Report) in the third quarter, according to its most recent disclosure with the SEC. The firm acquired 697,125 shares of the company's stock, valued at approximately $3,032,000. Point72 Asset Management L.P. owned approximately 1.23% of Black Diamond Therapeutics at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of BDTX. Vestal Point Capital LP grew its stake in Black Diamond Therapeutics by 139.5% during the third quarter. Vestal Point Capital LP now owns 5,028,500 shares of the company's stock valued at $21,874,000 after acquiring an additional 2,928,500 shares in the last quarter. Affinity Asset Advisors LLC purchased a new stake in shares of Black Diamond Therapeutics in the second quarter worth about $3,029,000. TD Asset Management Inc boosted its stake in Black Diamond Therapeutics by 275.9% during the second quarter. TD Asset Management Inc now owns 266,312 shares of the company's stock valued at $1,241,000 after buying an additional 195,464 shares during the last quarter. Ally Bridge Group NY LLC bought a new stake in Black Diamond Therapeutics in the 2nd quarter worth approximately $3,891,000. Finally, Vontobel Holding Ltd. bought a new stake in Black Diamond Therapeutics in the 3rd quarter worth approximately $68,000. Institutional investors own 95.47% of the company's stock.

Black Diamond Therapeutics Price Performance

Shares of BDTX traded up $0.05 during midday trading on Tuesday, hitting $2.44. The stock had a trading volume of 258,891 shares, compared to its average volume of 786,681. Black Diamond Therapeutics, Inc. has a 1 year low of $2.31 and a 1 year high of $7.66. The stock's 50 day moving average is $3.02 and its 200 day moving average is $4.52. The firm has a market cap of $138.07 million, a PE ratio of -1.80 and a beta of 2.47.

Black Diamond Therapeutics (NASDAQ:BDTX - Get Free Report) last announced its earnings results on Tuesday, November 5th. The company reported ($0.28) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.37) by $0.09. As a group, 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 recently weighed in on the stock. Wedbush reissued an "outperform" rating and issued a $16.00 target price on shares of Black Diamond Therapeutics in a report on Tuesday, October 8th. HC Wainwright reissued a "buy" rating and issued a $11.00 price objective on shares of Black Diamond Therapeutics in a research note on Wednesday, November 6th. Finally, Piper Sandler upped their target price on shares of Black Diamond Therapeutics from $12.00 to $15.00 and gave the company an "overweight" rating in a research report on Monday, September 23rd.

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.