Dimensional Fund Advisors LP Buys 444,649 Shares of Black Diamond Therapeutics, Inc. $BDTX

Dimensional Fund Advisors LP increased its stake in Black Diamond Therapeutics, Inc. (NASDAQ:BDTX) by 51.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,301,664 shares of the company’s stock after buying an additional 444,649 shares during the period. Dimensional Fund Advisors LP’s holdings in Black Diamond Therapeutics were worth $2,772,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. WINTON GROUP Ltd bought a new position in Black Diamond Therapeutics in the 4th quarter worth about $1,024,000. RB Capital Management LLC purchased a new position in shares of Black Diamond Therapeutics during the fourth quarter worth approximately $85,000. Round Rock Advisors LLC purchased a new position in shares of Black Diamond Therapeutics during the fourth quarter worth approximately $193,000. HCR Wealth Advisors bought a new stake in shares of Black Diamond Therapeutics during the fourth quarter valued at approximately $66,000. Finally, Ritholtz Wealth Management boosted its holdings in shares of Black Diamond Therapeutics by 124.5% in the fourth quarter. Ritholtz Wealth Management now owns 227,870 shares of the company’s stock valued at $554,000 after purchasing an additional 126,391 shares during the period. Institutional investors own 95.47% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. TD Cowen reissued a “buy” rating on shares of Black Diamond Therapeutics in a research note on Thursday, August 6th. Wall Street Zen lowered Black Diamond Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. HC Wainwright reaffirmed a “buy” rating on shares of Black Diamond Therapeutics in a research report on Friday, May 22nd. BTIG Research upped their target price on Black Diamond Therapeutics from $10.00 to $11.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. Finally, Weiss Ratings downgraded Black Diamond Therapeutics from a “sell (d)” rating to a “sell (d-)” rating in a research report on Monday, July 13th. Eight research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Black Diamond Therapeutics currently has an average rating of “Moderate Buy” and an average target price of $9.80.

Black Diamond Therapeutics Stock Down 3.8%

Shares of NASDAQ:BDTX opened at $2.02 on Friday. The firm has a 50 day moving average of $1.83 and a 200 day moving average of $2.25. The company has a market capitalization of $116.05 million, a price-to-earnings ratio of -2.69 and a beta of 3.28. Black Diamond Therapeutics, Inc. has a 52 week low of $1.60 and a 52 week high of $4.94.

Black Diamond Therapeutics (NASDAQ:BDTX) last announced its earnings results on Wednesday, August 5th. The company reported ($0.17) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.20) by $0.03. On average, sell-side analysts expect that Black Diamond Therapeutics, Inc. will post -0.61 EPS for the current year.

Black Diamond Therapeutics Company Profile

Black Diamond Therapeutics, Inc is a precision oncology company focused on the discovery and development of small-molecule therapies that selectively target oncogenic proteins bearing tumor-driving mutations. Leveraging its proprietary Genetic Defined Allosteric (GDA) therapeutic platform, the company aims to identify unique allosteric binding sites in mutant proteins and engineer highly selective inhibitors. Headquartered in Cambridge, Massachusetts, Black Diamond applies structure-based drug design and molecular modeling to advance personalized cancer treatments.

The company’s development pipeline includes lead candidate BDTX-189, an allosteric inhibitor of mutant HER2, as well as programs directed at clinically relevant EGFR and KRAS mutations.