State Street Corp Acquires 118,764 Shares of Black Diamond Therapeutics, Inc. (NASDAQ:BDTX)

State Street Corp lifted its stake in Black Diamond Therapeutics, Inc. (NASDAQ:BDTX) by 17.2% during the third quarter, HoldingsChannel.com reports. The firm owned 809,196 shares of the company’s stock after purchasing an additional 118,764 shares during the quarter. State Street Corp’s holdings in Black Diamond Therapeutics were worth $3,520,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Point72 Asset Management L.P. bought a new position in shares of Black Diamond Therapeutics in the third quarter worth approximately $3,032,000. Vestal Point Capital LP raised its holdings in Black Diamond Therapeutics by 139.5% in the 3rd quarter. Vestal Point Capital LP now owns 5,028,500 shares of the company’s stock worth $21,874,000 after acquiring an additional 2,928,500 shares during the last quarter. Walleye Capital LLC bought a new position in Black Diamond Therapeutics in the 3rd quarter valued at approximately $49,000. MetLife Investment Management LLC boosted its stake in Black Diamond Therapeutics by 129.1% during the 3rd quarter. MetLife Investment Management LLC now owns 22,286 shares of the company’s stock valued at $97,000 after purchasing an additional 12,557 shares during the last quarter. Finally, FMR LLC bought a new stake in shares of Black Diamond Therapeutics in the 3rd quarter worth $779,000. 95.47% of the stock is owned by institutional investors.

Black Diamond Therapeutics Stock Down 1.8 %

Shares of NASDAQ:BDTX opened at $2.15 on Tuesday. The stock has a market capitalization of $121.66 million, a PE ratio of -1.62 and a beta of 2.47. The firm’s 50 day moving average price is $2.66 and its 200-day moving average price is $4.23. Black Diamond Therapeutics, Inc. has a twelve month low of $2.08 and a twelve month high of $7.66.

Black Diamond Therapeutics (NASDAQ:BDTX) last issued its quarterly earnings results on Tuesday, November 5th. The company reported ($0.28) earnings per share for the quarter, topping the consensus estimate of ($0.37) by $0.09. Analysts expect that Black Diamond Therapeutics, Inc. will post -1.3 earnings per share for the current fiscal year.

Analysts Set New Price Targets

BDTX has been the subject of several research analyst reports. Piper Sandler lifted their price objective on Black Diamond Therapeutics from $12.00 to $15.00 and gave the stock an “overweight” rating in a report on Monday, September 23rd. Wedbush reiterated an “outperform” rating and issued a $16.00 price target on shares of Black Diamond Therapeutics in a research note on Tuesday, October 8th. Finally, HC Wainwright restated a “buy” rating and set a $11.00 price objective on shares of Black Diamond Therapeutics in a research report on Wednesday, November 6th.

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.