Black Diamond Therapeutics, Inc. (NASDAQ:BDTX) Major Shareholder Growth N. V. Biotech Sells 5,784,292 Shares

Black Diamond Therapeutics, Inc. (NASDAQ:BDTX) major shareholder Growth N. V. Biotech sold 5,784,292 shares of Black Diamond Therapeutics stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $2.07, for a total transaction of $11,973,484.44. Following the completion of the transaction, the insider now directly owns 2,733,547 shares of the company’s stock, valued at approximately $5,658,442.29. This trade represents a 67.91 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Black Diamond Therapeutics Stock Performance

Shares of BDTX stock opened at $1.88 on Friday. The company has a market capitalization of $106.52 million, a price-to-earnings ratio of -1.41 and a beta of 2.52. Black Diamond Therapeutics, Inc. has a 52 week low of $1.59 and a 52 week high of $7.66. The company has a 50-day simple moving average of $2.16 and a 200 day simple moving average of $2.92.

Black Diamond Therapeutics (NASDAQ:BDTX) last posted its quarterly earnings data on Thursday, March 6th. The company reported ($0.28) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.03. Sell-side analysts forecast that Black Diamond Therapeutics, Inc. will post -1.3 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on BDTX shares. Wedbush reissued an “outperform” rating and issued a $11.00 price objective on shares of Black Diamond Therapeutics in a research report on Wednesday. Stifel Nicolaus decreased their price objective on shares of Black Diamond Therapeutics from $16.00 to $15.00 and set a “buy” rating for the company in a research report on Friday, March 7th. Finally, HC Wainwright lifted their price objective on shares of Black Diamond Therapeutics from $11.00 to $12.00 and gave the company a “buy” rating in a research report on Tuesday. Five analysts have rated the stock with a buy rating, According to MarketBeat, Black Diamond Therapeutics has an average rating of “Buy” and an average target price of $14.60.

Institutional Trading of Black Diamond Therapeutics

A number of institutional investors have recently bought and sold shares of the business. Vestal Point Capital LP boosted its holdings in Black Diamond Therapeutics by 11.4% in the 4th quarter. Vestal Point Capital LP now owns 5,600,000 shares of the company’s stock valued at $11,984,000 after purchasing an additional 571,500 shares during the period. Squarepoint Ops LLC raised its position in shares of Black Diamond Therapeutics by 122.8% in the 4th quarter. Squarepoint Ops LLC now owns 131,874 shares of the company’s stock valued at $282,000 after buying an additional 72,688 shares in the last quarter. Tang Capital Management LLC raised its position in shares of Black Diamond Therapeutics by 51.1% in the 4th quarter. Tang Capital Management LLC now owns 2,070,209 shares of the company’s stock valued at $4,430,000 after buying an additional 700,000 shares in the last quarter. Nuveen Asset Management LLC raised its position in shares of Black Diamond Therapeutics by 12.8% in the 4th quarter. Nuveen Asset Management LLC now owns 201,535 shares of the company’s stock valued at $431,000 after buying an additional 22,802 shares in the last quarter. Finally, Millennium Management LLC raised its position in shares of Black Diamond Therapeutics by 503.0% in the 4th quarter. Millennium Management LLC now owns 558,076 shares of the company’s stock valued at $1,194,000 after buying an additional 465,531 shares in the last quarter. Institutional investors own 95.47% of the company’s stock.

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.