Kennedy Capital Management LLC Sells 223,243 Shares of Black Diamond Therapeutics, Inc. (NASDAQ:BDTX)

Kennedy Capital Management LLC cut its holdings in Black Diamond Therapeutics, Inc. (NASDAQ:BDTX) by 34.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 433,793 shares of the company’s stock after selling 223,243 shares during the period. Kennedy Capital Management LLC’s holdings in Black Diamond Therapeutics were worth $928,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Charles Schwab Investment Management Inc. increased its position in Black Diamond Therapeutics by 6.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 109,224 shares of the company’s stock worth $475,000 after buying an additional 7,021 shares during the period. FMR LLC acquired a new position in Black Diamond Therapeutics during the 3rd quarter valued at $779,000. State Street Corp boosted its holdings in 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 purchasing an additional 118,764 shares during the period. Wellington Management Group LLP grew its position 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 purchasing an additional 23,282 shares during the last quarter. Finally, Barclays PLC increased its holdings in shares of Black Diamond Therapeutics by 201.9% during the 3rd quarter. Barclays PLC now owns 78,151 shares of the company’s stock worth $339,000 after purchasing an additional 52,265 shares during the period. Institutional investors and hedge funds own 95.47% of the company’s stock.

Black Diamond Therapeutics Price Performance

Black Diamond Therapeutics stock opened at $1.40 on Tuesday. The business has a 50 day simple moving average of $1.83 and a 200 day simple moving average of $2.40. The company has a market capitalization of $79.33 million, a PE ratio of -1.05 and a beta of 2.81. Black Diamond Therapeutics, Inc. has a one year low of $1.20 and a one year high of $7.66.

Black Diamond Therapeutics (NASDAQ:BDTX) last issued its earnings results on Thursday, March 6th. The company reported ($0.28) EPS for the quarter, beating the consensus estimate of ($0.31) by $0.03. Equities analysts anticipate that Black Diamond Therapeutics, Inc. will post -1.3 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, major shareholder Growth N. V. Biotech sold 5,784,292 shares of the business’s stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $2.07, for a total value of $11,973,484.44. Following the transaction, the insider now directly owns 2,733,547 shares of the company’s stock, valued at $5,658,442.29. The trade was a 67.91 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 8.87% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on BDTX. Stifel Nicolaus decreased their target price on Black Diamond Therapeutics from $16.00 to $15.00 and set a “buy” rating on the stock in a research report on Friday, March 7th. Wedbush reaffirmed an “outperform” rating and issued a $11.00 target price on shares of Black Diamond Therapeutics in a research report on Wednesday, March 19th. Finally, HC Wainwright boosted their price target on shares of Black Diamond Therapeutics from $11.00 to $12.00 and gave the company a “buy” rating in a report on Tuesday, March 18th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $14.60.

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.