Foundations Investment Advisors LLC Raises Holdings in Black Diamond Therapeutics, Inc. (NASDAQ:BDTX)

Foundations Investment Advisors LLC raised its stake in Black Diamond Therapeutics, Inc. (NASDAQ:BDTX) by 17.7% during the second quarter, HoldingsChannel reports. The institutional investor owned 113,550 shares of the company’s stock after purchasing an additional 17,050 shares during the quarter. Foundations Investment Advisors LLC’s holdings in Black Diamond Therapeutics were worth $529,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in BDTX. Susquehanna Fundamental Investments LLC acquired a new position in shares of Black Diamond Therapeutics in the first quarter worth $82,000. SG Americas Securities LLC purchased a new stake in Black Diamond Therapeutics during the second quarter worth approximately $108,000. Jump Financial LLC boosted its holdings 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 valued at $109,000 after buying an additional 27,616 shares in the last quarter. Pale Fire Capital SE acquired a new position in Black Diamond Therapeutics in the fourth quarter valued at $144,000. Finally, Rhumbline Advisers grew its stake in 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 buying an additional 46,401 shares during the last quarter. 95.47% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Piper Sandler reissued an “overweight” rating and issued a $12.00 price objective on shares of Black Diamond Therapeutics in a research note on Wednesday, July 3rd. Raymond James initiated coverage on Black Diamond Therapeutics in a research note on Wednesday, July 31st. They set an “outperform” rating and a $20.00 price target for the company. Wedbush reiterated an “outperform” rating and set a $16.00 target price on shares of Black Diamond Therapeutics in a report on Wednesday, August 7th. Finally, HC Wainwright restated a “buy” rating and issued a $11.00 target price on shares of Black Diamond Therapeutics in a report on Wednesday.

Black Diamond Therapeutics Price Performance

Black Diamond Therapeutics stock opened at $5.40 on Friday. The company’s fifty day moving average price is $5.55 and its two-hundred day moving average price is $5.30. The company has a market capitalization of $303.77 million, a price-to-earnings ratio of -3.25 and a beta of 2.49. Black Diamond Therapeutics, Inc. has a one year low of $1.62 and a one year high of $7.66.

Black Diamond Therapeutics (NASDAQ:BDTX) last released its quarterly earnings data on Tuesday, August 6th. The company reported ($0.36) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.39) by $0.03. As a group, sell-side analysts anticipate that Black Diamond Therapeutics, Inc. will post -1.42 earnings per share 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.