Black Diamond Therapeutics, Inc. (NASDAQ:BDTX – Get Free Report) saw a significant increase in short interest in the month of October. As of October 31st, there was short interest totalling 3,350,000 shares, an increase of 12.8% from the October 15th total of 2,970,000 shares. Approximately 9.8% of the shares of the company are short sold. Based on an average daily trading volume, of 537,900 shares, the days-to-cover ratio is currently 6.2 days.
Insider Activity at Black Diamond Therapeutics
In other Black Diamond Therapeutics news, major shareholder Growth N. V. Biotech purchased 400,000 shares of the firm’s stock in a transaction dated Tuesday, October 17th. The shares were purchased at an average cost of $2.34 per share, with a total value of $936,000.00. Following the completion of the purchase, the insider now owns 8,517,839 shares in the company, valued at approximately $19,931,743.26. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 9.07% of the stock is owned by company insiders.
Institutional Inflows and Outflows
Large investors have recently modified their holdings of the stock. Renaissance Technologies LLC boosted its stake in Black Diamond Therapeutics by 1.5% during the 2nd quarter. Renaissance Technologies LLC now owns 220,700 shares of the company’s stock worth $1,115,000 after purchasing an additional 3,200 shares during the period. Cubist Systematic Strategies LLC raised its position in Black Diamond Therapeutics by 25.8% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 15,804 shares of the company’s stock worth $39,000 after buying an additional 3,244 shares during the last quarter. AQR Capital Management LLC raised its position in Black Diamond Therapeutics by 34.4% during the 2nd quarter. AQR Capital Management LLC now owns 18,663 shares of the company’s stock worth $46,000 after buying an additional 4,773 shares during the last quarter. Newtyn Management LLC raised its position in Black Diamond Therapeutics by 2.5% during the 3rd quarter. Newtyn Management LLC now owns 205,000 shares of the company’s stock worth $588,000 after buying an additional 5,000 shares during the last quarter. Finally, Jump Financial LLC purchased a new position in Black Diamond Therapeutics during the 3rd quarter worth $32,000.
Black Diamond Therapeutics Price Performance
Wall Street Analysts Forecast Growth
Separately, Wedbush reaffirmed an “outperform” rating and issued a $10.00 target price on shares of Black Diamond Therapeutics in a research report on Tuesday, September 12th.
About Black Diamond Therapeutics
Black Diamond Therapeutics, Inc, a clinical-stage precision oncology medicine company, focuses on the discovery and development of therapies for patients with genetically defined cancers. The company's lead product candidate, BDTX-1535, a brain-penetrant, mutant selective, irreversible EGFR MasterKey inhibitor, designed to inhibit a family of oncogenic mutations, currently under Phase 1 clinical trial.
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