Black Diamond Therapeutics, Inc. (NASDAQ:BDTX) Position Reduced by Kennedy Capital Management LLC

Kennedy Capital Management LLC reduced its position in shares of Black Diamond Therapeutics, Inc. (NASDAQ:BDTX) by 34.0% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 433,793 shares of the company’s stock after selling 223,243 shares during the quarter. Kennedy Capital Management LLC owned about 0.77% of Black Diamond Therapeutics worth $928,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the company. Raymond James Financial Inc. bought a new position in Black Diamond Therapeutics during the fourth quarter valued at about $53,000. Renaissance Technologies LLC grew its stake in shares of Black Diamond Therapeutics by 256.2% in the 4th quarter. Renaissance Technologies LLC now owns 904,000 shares of the company’s stock worth $1,935,000 after purchasing an additional 650,200 shares during the last quarter. Wells Fargo & Company MN raised its holdings in shares of 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 purchasing an additional 5,932 shares in the last quarter. Geode Capital Management LLC lifted its stake in Black Diamond Therapeutics by 1.5% during the fourth quarter. Geode Capital Management LLC now owns 959,316 shares of the company’s stock valued at $2,053,000 after purchasing an additional 14,439 shares during the last quarter. Finally, Wellington Management Group LLP boosted its holdings in Black Diamond Therapeutics by 7.9% during the fourth quarter. Wellington Management Group LLP now owns 221,236 shares of the company’s stock worth $473,000 after buying an additional 16,279 shares in the last quarter. 95.47% of the stock is currently owned by institutional investors and hedge funds.

Black Diamond Therapeutics Trading Up 0.7 %

Shares of BDTX stock opened at $1.40 on Tuesday. The stock’s fifty day simple moving average is $1.83 and its 200-day simple moving average is $2.40. The company has a market capitalization of $79.33 million, a price-to-earnings ratio of -1.05 and a beta of 2.81. Black Diamond Therapeutics, Inc. has a 1-year low of $1.20 and a 1-year high of $7.66.

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

Analysts Set New Price Targets

BDTX has been the subject of a number of recent research reports. Wedbush reiterated an “outperform” rating and set a $11.00 price objective on shares of Black Diamond Therapeutics in a research report on Wednesday, March 19th. Stifel Nicolaus decreased their price target on Black Diamond Therapeutics from $16.00 to $15.00 and set a “buy” rating for the company in a research report on Friday, March 7th. Finally, HC Wainwright boosted their price objective on Black Diamond Therapeutics from $11.00 to $12.00 and gave the stock a “buy” rating in a report on Tuesday, March 18th. Five analysts have rated the stock with a buy rating, According to MarketBeat, Black Diamond Therapeutics currently has an average rating of “Buy” and a consensus target price of $14.60.

Insider Buying and Selling at Black Diamond Therapeutics

In other news, major shareholder Growth N. V. Biotech sold 5,784,292 shares of Black Diamond Therapeutics stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $2.07, for a total transaction of $11,973,484.44. Following the completion of the sale, the insider now directly owns 2,733,547 shares in the company, valued at $5,658,442.29. The trade was a 67.91 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 8.87% of the company’s stock.

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.