Vestal Point Capital LP Grows Holdings in Black Diamond Therapeutics, Inc. (NASDAQ:BDTX)

Vestal Point Capital LP grew its holdings in shares of Black Diamond Therapeutics, Inc. (NASDAQ:BDTX) by 139.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,028,500 shares of the company’s stock after buying an additional 2,928,500 shares during the quarter. Black Diamond Therapeutics accounts for about 1.7% of Vestal Point Capital LP’s investment portfolio, making the stock its 21st largest holding. Vestal Point Capital LP owned about 8.89% of Black Diamond Therapeutics worth $21,874,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in BDTX. Affinity Asset Advisors LLC acquired a new stake in shares of Black Diamond Therapeutics in the 2nd quarter worth about $3,029,000. TD Asset Management Inc raised its holdings 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 acquiring an additional 195,464 shares during the period. Ally Bridge Group NY LLC purchased a new stake in shares of Black Diamond Therapeutics in the second quarter valued at $3,891,000. Vontobel Holding Ltd. acquired a new stake in Black Diamond Therapeutics during the 3rd quarter worth about $68,000. Finally, Dimensional Fund Advisors LP grew its position in Black Diamond Therapeutics by 79.1% during the second quarter. Dimensional Fund Advisors LP now owns 200,044 shares of the company’s stock valued at $932,000 after purchasing an additional 88,378 shares in the last quarter. 95.47% of the stock is owned by institutional investors and hedge funds.

Black Diamond Therapeutics Stock Performance

Black Diamond Therapeutics stock opened at $2.57 on Friday. Black Diamond Therapeutics, Inc. has a 1 year low of $2.16 and a 1 year high of $7.66. The business has a 50-day moving average of $3.29 and a 200-day moving average of $4.66.

Black Diamond Therapeutics (NASDAQ:BDTX) last issued its quarterly earnings data on Tuesday, November 5th. The company reported ($0.28) EPS for the quarter, topping analysts’ consensus estimates of ($0.37) by $0.09. On average, analysts anticipate that Black Diamond Therapeutics, Inc. will post -1.3 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. HC Wainwright reiterated a “buy” rating and issued a $11.00 price objective on shares of Black Diamond Therapeutics in a report on Wednesday, November 6th. Wedbush reissued an “outperform” rating and issued a $16.00 price target on shares of Black Diamond Therapeutics in a report on Tuesday, October 8th. Finally, Piper Sandler boosted their price objective on Black Diamond Therapeutics from $12.00 to $15.00 and gave the company an “overweight” rating in a research report on Monday, September 23rd.

Black Diamond Therapeutics 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.