Geode Capital Management LLC Boosts Stake in Black Diamond Therapeutics, Inc. (NASDAQ:BDTX)

Geode Capital Management LLC lifted its stake in shares of Black Diamond Therapeutics, Inc. (NASDAQ:BDTX) by 12.2% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 944,877 shares of the company’s stock after purchasing an additional 102,445 shares during the quarter. Geode Capital Management LLC’s holdings in Black Diamond Therapeutics were worth $4,111,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in BDTX. Barclays PLC grew its stake in Black Diamond Therapeutics by 201.9% during the 3rd quarter. Barclays PLC now owns 78,151 shares of the company’s stock valued at $339,000 after purchasing an additional 52,265 shares during the last quarter. Wellington Management Group LLP increased its holdings in Black Diamond Therapeutics by 12.8% in the 3rd quarter. Wellington Management Group LLP now owns 204,957 shares of the company’s stock worth $892,000 after buying an additional 23,282 shares during the period. State Street Corp boosted its holdings in shares of Black Diamond Therapeutics by 17.2% in the 3rd quarter. State Street Corp now owns 809,196 shares of the company’s stock valued at $3,520,000 after acquiring an additional 118,764 shares during the last quarter. Point72 Asset Management L.P. acquired a new stake in shares of Black Diamond Therapeutics in the third quarter worth $3,032,000. Finally, Vestal Point Capital LP raised its holdings in shares of Black Diamond Therapeutics by 139.5% during the third quarter. Vestal Point Capital LP now owns 5,028,500 shares of the company’s stock worth $21,874,000 after purchasing an additional 2,928,500 shares during the last quarter. Hedge funds and other institutional investors own 95.47% of the company’s stock.

Black Diamond Therapeutics Stock Up 2.8 %

Shares of BDTX opened at $2.20 on Monday. The firm’s fifty day moving average is $2.58 and its two-hundred day moving average is $4.14. The stock has a market cap of $124.49 million, a PE ratio of -1.65 and a beta of 2.49. Black Diamond Therapeutics, Inc. has a 52-week low of $2.08 and a 52-week high of $7.66.

Black Diamond Therapeutics (NASDAQ:BDTX) last released 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. As a group, research analysts anticipate that Black Diamond Therapeutics, Inc. will post -1.3 earnings per share for the current year.

Analyst Ratings Changes

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

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.