Black Diamond Therapeutics Sees Unusually High Options Volume (NASDAQ:BDTX)

Black Diamond Therapeutics, Inc. (NASDAQ:BDTX) saw some unusual options trading activity on Monday. Traders purchased 4,719 put options on the stock. This is an increase of approximately 355% compared to the typical daily volume of 1,037 put options.

Analyst Ratings Changes

A number of research firms recently weighed in on BDTX. HC Wainwright reiterated a “buy” rating and issued a $11.00 price objective on shares of Black Diamond Therapeutics in a research note on Wednesday, September 18th. Piper Sandler restated an “overweight” rating and set a $12.00 price target on shares of Black Diamond Therapeutics in a research report on Wednesday, July 3rd. Raymond James began coverage on Black Diamond Therapeutics in a report on Wednesday, July 31st. They issued an “outperform” rating and a $20.00 price objective for the company. Finally, Wedbush reissued an “outperform” rating and set a $16.00 price objective on shares of Black Diamond Therapeutics in a report on Tuesday, September 10th.

Hedge Funds Weigh In On Black Diamond Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Susquehanna Fundamental Investments LLC purchased a new position in shares of Black Diamond Therapeutics during the 1st quarter worth approximately $82,000. SG Americas Securities LLC purchased a new position in Black Diamond Therapeutics during the second quarter valued at $108,000. Algert Global LLC bought a new stake in shares of Black Diamond Therapeutics during the 2nd quarter valued at $133,000. Jump Financial LLC grew its position in shares of Black Diamond Therapeutics by 245.0% in the 4th quarter. Jump Financial LLC now owns 38,888 shares of the company’s stock worth $109,000 after buying an additional 27,616 shares during the period. Finally, Rhumbline Advisers increased its stake in shares of Black Diamond Therapeutics by 10,334.3% in the 2nd quarter. Rhumbline Advisers now owns 46,850 shares of the company’s stock worth $218,000 after acquiring an additional 46,401 shares in the last quarter. Hedge funds and other institutional investors own 95.47% of the company’s stock.

Black Diamond Therapeutics Price Performance

Black Diamond Therapeutics stock traded up $0.29 during trading hours on Monday, reaching $5.05. The stock had a trading volume of 24,481,262 shares, compared to its average volume of 778,821. The company has a fifty day simple moving average of $5.69 and a 200-day simple moving average of $5.36. The stock has a market cap of $284.08 million, a PE ratio of -3.10 and a beta of 2.49. Black Diamond Therapeutics has a 52 week low of $1.62 and a 52 week high of $7.66.

Black Diamond Therapeutics (NASDAQ:BDTX) last issued its quarterly earnings data on Tuesday, August 6th. The company reported ($0.36) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.39) by $0.03. Research analysts predict that Black Diamond Therapeutics will post -1.4 earnings per share for the current fiscal year.

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.