BridgeBio Oncology Therapeutics (NASDAQ:BBOT) Shares Gap Up – Here’s What Happened

BridgeBio Oncology Therapeutics, Inc (NASDAQ:BBOT) gapped up before the market opened on Wednesday . The stock had previously closed at $8.29, but opened at $8.93. BridgeBio Oncology Therapeutics shares last traded at $9.06, with a volume of 119,619 shares trading hands.

Wall Street Analysts Forecast Growth

BBOT has been the topic of several analyst reports. Wall Street Zen downgraded BridgeBio Oncology Therapeutics from a “sell” rating to a “strong sell” rating in a report on Saturday, May 16th. JPMorgan Chase & Co. initiated coverage on BridgeBio Oncology Therapeutics in a research report on Wednesday. They set an “overweight” rating and a $27.00 price target on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of BridgeBio Oncology Therapeutics in a research note on Thursday, June 18th. Oppenheimer initiated coverage on BridgeBio Oncology Therapeutics in a research report on Monday, June 22nd. They issued an “outperform” rating and a $22.00 price objective for the company. Finally, UBS Group lowered BridgeBio Oncology Therapeutics to an “overweight” rating in a research note on Wednesday. Seven analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $24.80.

BridgeBio Oncology Therapeutics Stock Up 2.3%

The firm has a market capitalization of $679.09 million, a P/E ratio of -4.19 and a beta of 0.39. The firm has a 50 day moving average price of $8.10.

BridgeBio Oncology Therapeutics (NASDAQ:BBOT) last released its quarterly earnings results on Tuesday, May 12th. The company reported ($526.11) EPS for the quarter. As a group, sell-side analysts anticipate that BridgeBio Oncology Therapeutics, Inc will post -2.33 EPS for the current fiscal year.

Institutional Trading of BridgeBio Oncology Therapeutics

Several large investors have recently added to or reduced their stakes in the stock. Paradigm Biocapital Advisors LP increased its position in BridgeBio Oncology Therapeutics by 21.2% during the 4th quarter. Paradigm Biocapital Advisors LP now owns 2,261,749 shares of the company’s stock valued at $28,317,000 after purchasing an additional 395,608 shares during the period. Laurion Capital Management LP boosted its stake in shares of BridgeBio Oncology Therapeutics by 40.1% during the 4th quarter. Laurion Capital Management LP now owns 1,464,938 shares of the company’s stock valued at $18,341,000 after purchasing an additional 419,138 shares in the last quarter. Armistice Capital LLC boosted its stake in shares of BridgeBio Oncology Therapeutics by 142.7% during the 4th quarter. Armistice Capital LLC now owns 1,000,000 shares of the company’s stock valued at $12,520,000 after purchasing an additional 588,000 shares in the last quarter. Geode Capital Management LLC increased its position in shares of BridgeBio Oncology Therapeutics by 3.8% during the fourth quarter. Geode Capital Management LLC now owns 561,987 shares of the company’s stock valued at $7,039,000 after buying an additional 20,385 shares during the period. Finally, Catalio Capital Management LP bought a new position in BridgeBio Oncology Therapeutics in the fourth quarter worth about $5,142,000. Institutional investors own 54.89% of the company’s stock.

About BridgeBio Oncology Therapeutics

BridgeBio Oncology Therapeutics (NASDAQ:BBOT) is a publicly traded biotechnology company focused on discovering and developing therapies for cancer. The company concentrates on translating scientific insights into clinical-stage programs aimed at addressing oncology indications with unmet medical need.

BridgeBio Oncology’s activities center on research and development of investigational therapeutics, advancing drug candidates through preclinical studies and clinical trials. Its work typically involves in-house discovery efforts and collaborations with academic and industry partners to identify targets, optimize compounds, and generate the clinical data needed to support regulatory development.

Public information about BridgeBio Oncology Therapeutics’ specific programs, geographic operations and leadership is limited in the sources available here.