Algert Global LLC Takes Position in Black Diamond Therapeutics, Inc. (NASDAQ:BDTX)

Algert Global LLC acquired a new stake in shares of Black Diamond Therapeutics, Inc. (NASDAQ:BDTX) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 28,501 shares of the company’s stock, valued at approximately $133,000.

Other institutional investors also recently made changes to their positions in the company. Ally Bridge Group NY LLC purchased a new stake in Black Diamond Therapeutics during the 2nd quarter worth $3,891,000. Affinity Asset Advisors LLC purchased a new stake in Black Diamond Therapeutics during the 2nd quarter worth $3,029,000. TD Asset Management Inc boosted its position in Black Diamond Therapeutics by 275.9% during the 2nd quarter. TD Asset Management Inc now owns 266,312 shares of the company’s stock worth $1,241,000 after purchasing an additional 195,464 shares during the period. Renaissance Technologies LLC boosted its position in Black Diamond Therapeutics by 24.1% during the 2nd quarter. Renaissance Technologies LLC now owns 263,900 shares of the company’s stock worth $1,230,000 after purchasing an additional 51,300 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in Black Diamond Therapeutics by 79.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 200,044 shares of the company’s stock worth $932,000 after purchasing an additional 88,378 shares during the period. 95.47% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

BDTX has been the subject of a number of research reports. Piper Sandler upped their price target on shares of Black Diamond Therapeutics from $12.00 to $15.00 and gave the stock an “overweight” rating in a research report on Monday, September 23rd. Raymond James initiated coverage on shares of Black Diamond Therapeutics in a research report on Wednesday, July 31st. They set an “outperform” rating and a $20.00 price target for the company. HC Wainwright reaffirmed a “buy” rating and set a $11.00 price target on shares of Black Diamond Therapeutics in a research report on Wednesday. Finally, Wedbush reiterated an “outperform” rating and issued a $16.00 price objective on shares of Black Diamond Therapeutics in a report on Tuesday.

Black Diamond Therapeutics Price Performance

Shares of BDTX stock opened at $3.33 on Friday. Black Diamond Therapeutics, Inc. has a 12 month low of $1.62 and a 12 month high of $7.66. The firm has a market capitalization of $188.18 million, a P/E ratio of -2.22 and a beta of 2.47. The company’s fifty day moving average price is $5.08 and its two-hundred day moving average price is $5.28.

Black Diamond Therapeutics (NASDAQ:BDTX) last issued its quarterly earnings data on Tuesday, August 6th. The company reported ($0.36) EPS for the quarter, topping analysts’ consensus estimates of ($0.39) by $0.03. On average, sell-side analysts anticipate that Black Diamond Therapeutics, Inc. will post -1.44 EPS for the current 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.