BridgeBio Oncology Therapeutics, Inc (NASDAQ:BBOT) Given Average Rating of “Moderate Buy” by Analysts

Shares of BridgeBio Oncology Therapeutics, Inc (NASDAQ:BBOT) have been assigned an average recommendation of “Moderate Buy” from the ten research firms that are currently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating and nine have given a buy rating to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $22.8750.

A number of equities analysts have recently issued reports on the company. Canaccord Genuity Group dropped their target price on BridgeBio Oncology Therapeutics from $23.00 to $20.00 and set a “buy” rating for the company in a report on Wednesday, September 9th. UBS Group cut BridgeBio Oncology Therapeutics to an “overweight” rating in a report on Wednesday, July 8th. Oppenheimer began coverage on shares of BridgeBio Oncology Therapeutics in a research report on Monday, June 22nd. They set an “outperform” rating and a $22.00 target price for the company. JPMorgan Chase & Co. reduced their price target on shares of BridgeBio Oncology Therapeutics from $25.00 to $23.00 and set an “overweight” rating on the stock in a research report on Friday, September 11th. Finally, Wedbush reiterated an “outperform” rating and issued a $25.00 target price on shares of BridgeBio Oncology Therapeutics in a research note on Wednesday, September 9th.

BridgeBio Oncology Therapeutics Price Performance

Shares of BBOT stock opened at $4.77 on Friday. BridgeBio Oncology Therapeutics has a one year low of $4.69 and a one year high of $14.87. The stock has a fifty day moving average price of $8.28 and a 200 day moving average price of $8.49. The stock has a market cap of $382.41 million, a P/E ratio of -1.73 and a beta of 0.38.

BridgeBio Oncology Therapeutics (NASDAQ:BBOT) last issued its earnings results on Tuesday, August 11th. The company reported ($705.20) earnings per share for the quarter. Equities research analysts anticipate that BridgeBio Oncology Therapeutics will post -2.79 EPS for the current year.

Institutional Investors Weigh In On BridgeBio Oncology Therapeutics

A number of hedge funds have recently added to or reduced their stakes in the stock. Armistice Capital LLC lifted its position in shares of BridgeBio Oncology Therapeutics by 142.7% during the fourth quarter. Armistice Capital LLC now owns 1,000,000 shares of the company’s stock worth $12,520,000 after purchasing an additional 588,000 shares in the last quarter. Opaleye Management Inc. boosted its position in BridgeBio Oncology Therapeutics by 1,213.8% in the 2nd quarter. Opaleye Management Inc. now owns 700,000 shares of the company’s stock valued at $5,334,000 after buying an additional 646,718 shares during the last quarter. Catalio Capital Management LP bought a new position in BridgeBio Oncology Therapeutics in the 4th quarter valued at $5,142,000. Granahan Investment Management LLC acquired a new stake in shares of BridgeBio Oncology Therapeutics in the 1st quarter valued at $2,068,000. Finally, Renaissance Technologies LLC lifted its stake in shares of BridgeBio Oncology Therapeutics by 37.1% during the first quarter. Renaissance Technologies LLC now owns 101,900 shares of the company’s stock valued at $912,000 after acquiring an additional 27,600 shares during the period. Institutional investors own 54.89% of the company’s stock.

BridgeBio Oncology Therapeutics Company Profile

BridgeBio Oncology Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing precision medicines for genetically defined cancers. The company seeks to address cancer-driving alterations that may be underserved by existing treatments, using targeted therapies designed to match the molecular characteristics of individual tumors.

Its pipeline includes BBO-8520, an investigational KRAS G12C inhibitor designed to target both active and inactive forms of the KRAS G12C protein.