Charles Schwab Investment Management Inc. Increases Stake in Black Diamond Therapeutics, Inc. (NASDAQ:BDTX)

Charles Schwab Investment Management Inc. raised its stake in Black Diamond Therapeutics, Inc. (NASDAQ:BDTX) by 6.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 109,224 shares of the company’s stock after acquiring an additional 7,021 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Black Diamond Therapeutics were worth $475,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of BDTX. Intech Investment Management LLC purchased a new position in shares of Black Diamond Therapeutics during the 3rd quarter valued at approximately $56,000. Vontobel Holding Ltd. purchased a new position in Black Diamond Therapeutics in the third quarter valued at $68,000. SG Americas Securities LLC acquired a new position in shares of Black Diamond Therapeutics in the second quarter worth about $108,000. Algert Global LLC acquired a new position in shares of Black Diamond Therapeutics in the second quarter worth about $133,000. Finally, Rhumbline Advisers boosted its stake in shares of Black Diamond Therapeutics by 10,334.3% during 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 Stock Down 6.4 %

BDTX stock opened at $2.19 on Friday. Black Diamond Therapeutics, Inc. has a 52 week low of $2.18 and a 52 week high of $7.66. The firm has a 50-day simple moving average of $2.82 and a 200-day simple moving average of $4.39. The stock has a market capitalization of $123.92 million, a P/E ratio of -1.65 and a beta of 2.47.

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

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on BDTX shares. HC Wainwright restated a “buy” rating and issued a $11.00 price target on shares of Black Diamond Therapeutics in a research note on Wednesday, November 6th. Piper Sandler boosted their price objective on Black Diamond Therapeutics from $12.00 to $15.00 and gave the company an “overweight” rating in a research report on Monday, September 23rd. Finally, Wedbush reiterated an “outperform” rating and set a $16.00 target price on shares of Black Diamond Therapeutics in a research report on Tuesday, October 8th.

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.