BridgeBio Oncology Therapeutics (NASDAQ:BBOT) Stock Rating Raised to “Sell” at Wall Street Zen

Wall Street Zen upgraded shares of BridgeBio Oncology Therapeutics (NASDAQ:BBOT) from a strong sell rating to a sell rating in a report released on Saturday,Wall Street Zen reports.

Other analysts also recently issued reports about the stock. Weiss Ratings downgraded shares of BridgeBio Oncology Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, October 9th. Stifel Nicolaus dropped their price objective on shares of BridgeBio Oncology Therapeutics from $23.00 to $15.00 and set a “buy” rating on the stock in a report on Wednesday, September 9th. UBS Group lowered shares of BridgeBio Oncology Therapeutics to an “overweight” rating in a research report on Wednesday, July 8th. Leerink Partners cut their price objective on shares of BridgeBio Oncology Therapeutics to $27.00 and set an “outperform” rating for the company in a research report on Thursday, September 10th. 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. Nine investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, BridgeBio Oncology Therapeutics currently has a consensus rating of “Moderate Buy” and an average price target of $22.88.

BridgeBio Oncology Therapeutics Trading Down 4.4%

BBOT opened at $2.82 on Friday. The business has a 50 day moving average of $6.29 and a 200-day moving average of $7.68. The stock has a market capitalization of $226.08 million, a price-to-earnings ratio of -1.02 and a beta of 0.65. BridgeBio Oncology Therapeutics has a 1-year low of $2.81 and a 1-year high of $14.87.

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

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Tidal Investments LLC lifted its stake in BridgeBio Oncology Therapeutics by 13.6% during the second quarter. Tidal Investments LLC now owns 93,339 shares of the company’s stock worth $711,000 after purchasing an additional 11,167 shares during the period. Tema ETFs LLC grew its stake in shares of BridgeBio Oncology Therapeutics by 13.6% in the 2nd quarter. Tema ETFs LLC now owns 93,339 shares of the company’s stock valued at $711,000 after purchasing an additional 11,167 shares during the period. Renaissance Technologies LLC grew its stake in shares of BridgeBio Oncology Therapeutics by 37.1% in the 1st quarter. Renaissance Technologies LLC now owns 101,900 shares of the company’s stock valued at $912,000 after purchasing an additional 27,600 shares during the period. Avidity Partners Management LP acquired a new position in shares of BridgeBio Oncology Therapeutics in the 1st quarter worth approximately $392,000. Finally, Granahan Investment Management LLC acquired a new position in shares of BridgeBio Oncology Therapeutics in the 1st quarter worth approximately $2,068,000. Institutional investors and hedge funds own 54.89% of the company’s stock.

About BridgeBio Oncology Therapeutics

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-causing mutations with targeted therapies designed to selectively interfere with disease-driving proteins and pathways.

Its lead program, BBO-8520, is an investigational small-molecule inhibitor targeting KRAS G12C, a mutation found in several solid tumors, including non-small cell lung cancer, colorectal cancer and pancreatic cancer.