Black Diamond Therapeutics, Inc. (NASDAQ:BDTX) Short Interest Update

Black Diamond Therapeutics, Inc. (NASDAQ:BDTX - Get Free Report) was the recipient of a significant decline in short interest in January. As of January 31st, there was short interest totalling 7,050,000 shares, a decline of 5.9% from the January 15th total of 7,490,000 shares. Based on an average daily volume of 761,200 shares, the short-interest ratio is presently 9.3 days.

Wall Street Analyst Weigh In

Separately, HC Wainwright reiterated a "buy" rating and set a $11.00 price objective on shares of Black Diamond Therapeutics in a report on Wednesday, November 6th.

Hedge Funds Weigh In On Black Diamond Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of the company. Vestal Point Capital LP grew its holdings in Black Diamond Therapeutics by 11.4% during the fourth quarter. Vestal Point Capital LP now owns 5,600,000 shares of the company's stock valued at $11,984,000 after purchasing an additional 571,500 shares during the period. Squarepoint Ops LLC grew its holdings in Black Diamond Therapeutics by 122.8% during the fourth quarter. Squarepoint Ops LLC now owns 131,874 shares of the company's stock valued at $282,000 after purchasing an additional 72,688 shares during the period. Tang Capital Management LLC grew its holdings in Black Diamond Therapeutics by 51.1% during the fourth quarter. Tang Capital Management LLC now owns 2,070,209 shares of the company's stock valued at $4,430,000 after purchasing an additional 700,000 shares during the period. Nuveen Asset Management LLC grew its holdings in Black Diamond Therapeutics by 12.8% during the fourth quarter. Nuveen Asset Management LLC now owns 201,535 shares of the company's stock valued at $431,000 after purchasing an additional 22,802 shares during the period. Finally, Millennium Management LLC grew its holdings in Black Diamond Therapeutics by 503.0% during the fourth quarter. Millennium Management LLC now owns 558,076 shares of the company's stock valued at $1,194,000 after purchasing an additional 465,531 shares during the period. 95.47% of the stock is owned by institutional investors.

Black Diamond Therapeutics Stock Down 5.3 %

Black Diamond Therapeutics stock traded down $0.12 during midday trading on Friday, hitting $2.16. 388,452 shares of the stock were exchanged, compared to its average volume of 1,007,704. Black Diamond Therapeutics has a 52-week low of $1.91 and a 52-week high of $7.66. The stock has a market capitalization of $122.21 million, a price-to-earnings ratio of -1.62 and a beta of 2.51. The business's 50-day moving average price is $2.30 and its 200-day moving average price is $3.41.

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.