Vestal Point Capital LP Purchases 2,928,500 Shares of Black Diamond Therapeutics, Inc. (NASDAQ:BDTX)

Vestal Point Capital LP increased its position in shares of Black Diamond Therapeutics, Inc. (NASDAQ:BDTX) by 139.5% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 5,028,500 shares of the company’s stock after acquiring an additional 2,928,500 shares during the period. Black Diamond Therapeutics comprises about 1.7% of Vestal Point Capital LP’s portfolio, making the stock its 21st biggest position. Vestal Point Capital LP owned about 0.09% of Black Diamond Therapeutics worth $21,874,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in BDTX. Walleye Capital LLC bought a new position in shares of Black Diamond Therapeutics during the 3rd quarter worth approximately $49,000. MetLife Investment Management LLC raised its stake in shares of Black Diamond Therapeutics by 129.1% in the third quarter. MetLife Investment Management LLC now owns 22,286 shares of the company’s stock valued at $97,000 after buying an additional 12,557 shares during the period. FMR LLC purchased a new position in Black Diamond Therapeutics in the 3rd quarter valued at approximately $779,000. Charles Schwab Investment Management Inc. increased its position in shares of Black Diamond Therapeutics by 6.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 109,224 shares of the company’s stock valued at $475,000 after buying an additional 7,021 shares during the period. Finally, Intech Investment Management LLC purchased a new stake in shares of Black Diamond Therapeutics in the third quarter worth $56,000. 95.47% of the stock is currently owned by institutional investors and hedge funds.

Black Diamond Therapeutics Price Performance

BDTX stock opened at $2.57 on Friday. The business’s 50-day moving average is $3.29 and its two-hundred day moving average is $4.66. Black Diamond Therapeutics, Inc. has a fifty-two week low of $2.16 and a fifty-two week high of $7.66.

Black Diamond Therapeutics (NASDAQ:BDTX) last announced its quarterly earnings data on Tuesday, November 5th. The company reported ($0.28) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.37) by $0.09. Equities research analysts forecast that Black Diamond Therapeutics, Inc. will post -1.3 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

BDTX has been the subject of a number of research reports. Piper Sandler upped their price objective on Black Diamond Therapeutics from $12.00 to $15.00 and gave the stock an “overweight” rating in a report on Monday, September 23rd. Wedbush reiterated an “outperform” rating and set a $16.00 price target on shares of Black Diamond Therapeutics in a research report on Tuesday, October 8th. Finally, HC Wainwright restated a “buy” rating and issued a $11.00 price objective on shares of Black Diamond Therapeutics in a report on Wednesday, November 6th.

Black Diamond Therapeutics 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.