Dimensional Fund Advisors LP Grows Holdings in Black Diamond Therapeutics, Inc. (NASDAQ:BDTX)

Dimensional Fund Advisors LP boosted its stake in shares of Black Diamond Therapeutics, Inc. (NASDAQ:BDTX) by 158.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 661,436 shares of the company’s stock after buying an additional 405,579 shares during the period. Dimensional Fund Advisors LP’s holdings in Black Diamond Therapeutics were worth $1,416,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the stock. Intech Investment Management LLC raised its stake in shares of Black Diamond Therapeutics by 49.1% in the fourth quarter. Intech Investment Management LLC now owns 19,247 shares of the company’s stock worth $41,000 after purchasing an additional 6,340 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Black Diamond Therapeutics by 429.6% in the fourth quarter. JPMorgan Chase & Co. now owns 18,929 shares of the company’s stock worth $41,000 after buying an additional 15,355 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of Black Diamond Therapeutics during the 4th quarter valued at $42,000. Wells Fargo & Company MN increased its position in Black Diamond Therapeutics by 41.8% in the fourth quarter. Wells Fargo & Company MN now owns 20,119 shares of the company’s stock worth $43,000 after buying an additional 5,932 shares in the last quarter. Finally, Sei Investments Co. bought a new stake in Black Diamond Therapeutics during the 4th quarter worth approximately $49,000. Hedge funds and other institutional investors own 95.47% of the company’s stock.

Black Diamond Therapeutics Stock Performance

NASDAQ:BDTX opened at $1.93 on Friday. The company’s 50-day simple moving average is $1.59 and its 200-day simple moving average is $2.13. Black Diamond Therapeutics, Inc. has a fifty-two week low of $1.20 and a fifty-two week high of $6.75. The stock has a market capitalization of $109.39 million, a P/E ratio of -1.45 and a beta of 2.63.

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 the consensus estimate of ($0.31) by $0.03. On average, research analysts forecast that Black Diamond Therapeutics, Inc. will post -1.3 EPS for the current year.

Analyst Ratings Changes

A number of research firms recently commented on BDTX. Stifel Nicolaus lowered their price target on Black Diamond Therapeutics from $16.00 to $15.00 and set a “buy” rating on the stock in a report on Friday, March 7th. Wedbush reissued an “outperform” rating and set a $11.00 price objective on shares of Black Diamond Therapeutics in a research note on Wednesday, March 19th. Finally, HC Wainwright increased their target price on shares of Black Diamond Therapeutics from $11.00 to $12.00 and gave the company a “buy” rating in a research note on Tuesday, March 18th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Black Diamond Therapeutics has an average rating of “Buy” and an average target price of $14.60.

Insider Buying and Selling

In other Black Diamond Therapeutics news, major shareholder Growth N. V. Biotech sold 5,784,292 shares of the firm’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 sale, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 8.87% of the stock is currently owned by corporate insiders.

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.