Short Interest in Black Diamond Therapeutics, Inc. (NASDAQ:BDTX) Declines By 5.9%

Black Diamond Therapeutics, Inc. (NASDAQ:BDTX) saw a large decline in short interest in the month of January. As of January 31st, there was short interest totalling 7,050,000 shares, a decline of 5.9% from the January 15th total of 7,490,000 shares. Based on an average daily volume of 761,200 shares, the days-to-cover ratio is presently 9.3 days.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. D. E. Shaw & Co. Inc. acquired a new position in shares of Black Diamond Therapeutics in the fourth quarter valued at approximately $37,000. Intech Investment Management LLC increased its stake in shares of Black Diamond Therapeutics by 49.1% during the 4th 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. lifted its holdings in Black Diamond Therapeutics by 429.6% during the 4th quarter. JPMorgan Chase & Co. now owns 18,929 shares of the company’s stock valued at $41,000 after purchasing an additional 15,355 shares during the last quarter. SG Americas Securities LLC acquired a new position in shares of Black Diamond Therapeutics in the fourth quarter valued at approximately $42,000. Finally, Wells Fargo & Company MN raised its stake in Black Diamond Therapeutics by 41.8% in the 4th quarter. Wells Fargo & Company MN now owns 20,119 shares of the company’s stock worth $43,000 after purchasing an additional 5,932 shares in the last quarter. Institutional investors and hedge funds own 95.47% of the company’s stock.

Black Diamond Therapeutics Price Performance

Shares of NASDAQ:BDTX opened at $2.37 on Tuesday. Black Diamond Therapeutics has a one year low of $1.91 and a one year high of $7.66. The stock has a market cap of $134.09 million, a price-to-earnings ratio of -1.78 and a beta of 2.51. The company has a 50 day moving average of $2.32 and a 200-day moving average of $3.48.

Analysts Set New Price Targets

Separately, HC Wainwright reiterated a “buy” rating and set a $11.00 price objective on shares of Black Diamond Therapeutics in a research note on Wednesday, November 6th.

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.