Vestal Point Capital LP Purchases 2,928,500 Shares of Black Diamond Therapeutics, Inc. (NASDAQ:BDTX)

Vestal Point Capital LP boosted its position in Black Diamond Therapeutics, Inc. (NASDAQ:BDTX - Free Report) by 139.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,028,500 shares of the company's stock after buying an additional 2,928,500 shares during the quarter. Black Diamond Therapeutics makes up approximately 1.7% of Vestal Point Capital LP's portfolio, making the stock its 21st biggest position. Vestal Point Capital LP owned about 8.89% of Black Diamond Therapeutics worth $21,874,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Ally Bridge Group NY LLC purchased a new stake in shares of Black Diamond Therapeutics in the 2nd quarter valued at $3,891,000. Affinity Asset Advisors LLC purchased a new stake in Black Diamond Therapeutics during the second quarter valued at about $3,029,000. TD Asset Management Inc grew its stake in shares of 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. Renaissance Technologies LLC increased its holdings in shares of Black Diamond Therapeutics by 24.1% in the second quarter. Renaissance Technologies LLC now owns 263,900 shares of the company's stock worth $1,230,000 after buying an additional 51,300 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Black Diamond Therapeutics by 79.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 200,044 shares of the company's stock valued at $932,000 after acquiring an additional 88,378 shares during the last quarter. 95.47% of the stock is currently owned by institutional investors.

Black Diamond Therapeutics Trading Up 3.1 %

Shares of BDTX stock traded up $0.08 during trading hours on Friday, reaching $2.65. The company's stock had a trading volume of 393,713 shares, compared to its average volume of 796,445. Black Diamond Therapeutics, Inc. has a one year low of $2.19 and a one year high of $7.66. The stock has a market capitalization of $149.94 million, a P/E ratio of -1.93 and a beta of 2.51. The firm's fifty day simple moving average is $3.29 and its 200 day simple moving average is $4.66.

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

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.