Growth N. V. Biotech Sells 5,784,292 Shares of Black Diamond Therapeutics, Inc. (NASDAQ:BDTX) Stock

Black Diamond Therapeutics, Inc. (NASDAQ:BDTX) major shareholder Growth N. V. Biotech sold 5,784,292 shares of the business’s stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $2.07, for a total transaction of $11,973,484.44. Following the completion of the transaction, the insider now directly owns 2,733,547 shares of the company’s stock, valued at $5,658,442.29. This trade represents a 67.91 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Black Diamond Therapeutics Trading Down 5.3 %

Shares of NASDAQ BDTX opened at $1.78 on Friday. The firm has a market cap of $100.86 million, a PE ratio of -1.34 and a beta of 2.52. Black Diamond Therapeutics, Inc. has a 1-year low of $1.59 and a 1-year high of $7.66. The company has a fifty day moving average price of $2.16 and a 200 day moving average price of $2.89.

Black Diamond Therapeutics (NASDAQ:BDTX) last announced its earnings results on Thursday, March 6th. The company reported ($0.28) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.03. Equities research analysts forecast that Black Diamond Therapeutics, Inc. will post -1.3 EPS for the current year.

Hedge Funds Weigh In On Black Diamond Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Wells Fargo & Company MN lifted its position in Black Diamond Therapeutics by 41.8% during the 4th quarter. Wells Fargo & Company MN now owns 20,119 shares of the company’s stock worth $43,000 after buying an additional 5,932 shares in the last quarter. Intech Investment Management LLC lifted its position in Black Diamond Therapeutics by 49.1% during the 4th quarter. Intech Investment Management LLC now owns 19,247 shares of the company’s stock worth $41,000 after buying an additional 6,340 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in Black Diamond Therapeutics by 6.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 109,224 shares of the company’s stock worth $475,000 after buying an additional 7,021 shares in the last quarter. Rhumbline Advisers lifted its position in Black Diamond Therapeutics by 14.9% during the 4th quarter. Rhumbline Advisers now owns 56,135 shares of the company’s stock worth $120,000 after buying an additional 7,290 shares in the last quarter. Finally, Barclays PLC lifted its position in Black Diamond Therapeutics by 10.7% during the 4th quarter. Barclays PLC now owns 86,545 shares of the company’s stock worth $186,000 after buying an additional 8,394 shares in the last quarter. 95.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on BDTX. Stifel Nicolaus decreased their price target on shares of Black Diamond Therapeutics from $16.00 to $15.00 and set a “buy” rating for the company in a report on Friday, March 7th. HC Wainwright boosted their price target on shares of Black Diamond Therapeutics from $11.00 to $12.00 and gave the company a “buy” rating in a report on Tuesday. Finally, Wedbush reissued an “outperform” rating and issued a $11.00 price target on shares of Black Diamond Therapeutics in a report on Wednesday. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $14.60.

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.