Black Diamond Therapeutics, Inc. (NASDAQ:BDTX) Sees Significant Drop in Short Interest

Black Diamond Therapeutics, Inc. (NASDAQ:BDTX) saw a significant drop in short interest during the month of January. As of January 31st, there was short interest totalling 7,050,000 shares, a drop of 5.9% from the January 15th total of 7,490,000 shares. Based on an average trading volume of 761,200 shares, the days-to-cover ratio is currently 9.3 days.

Analyst Ratings Changes

Separately, HC Wainwright reissued a “buy” rating and issued a $11.00 price objective on shares of Black Diamond Therapeutics in a research report on Wednesday, November 6th.

Institutional Investors Weigh In On Black Diamond Therapeutics

Large investors have recently modified their holdings of the stock. D. E. Shaw & Co. Inc. bought a new position in Black Diamond Therapeutics during the fourth quarter valued at $37,000. Intech Investment Management LLC lifted its position in shares of Black Diamond Therapeutics by 49.1% during the 4th quarter. Intech Investment Management LLC now owns 19,247 shares of the company’s stock valued at $41,000 after buying an additional 6,340 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Black Diamond Therapeutics by 429.6% during the 4th quarter. JPMorgan Chase & Co. now owns 18,929 shares of the company’s stock worth $41,000 after acquiring an additional 15,355 shares during the period. SG Americas Securities LLC purchased a new stake in Black Diamond Therapeutics in the 4th quarter worth about $42,000. Finally, Wells Fargo & Company MN increased its holdings in Black Diamond Therapeutics by 41.8% in the 4th quarter. Wells Fargo & Company MN now owns 20,119 shares of the company’s stock worth $43,000 after acquiring an additional 5,932 shares during the last quarter. Hedge funds and other institutional investors own 95.47% of the company’s stock.

Black Diamond Therapeutics Stock Performance

Shares of BDTX stock opened at $2.28 on Wednesday. The firm has a market cap of $129.00 million, a price-to-earnings ratio of -1.71 and a beta of 2.51. Black Diamond Therapeutics has a 52 week low of $1.91 and a 52 week high of $7.66. The firm’s 50-day simple moving average is $2.32 and its two-hundred day simple moving average is $3.48.

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.