BridgeBio Oncology Therapeutics (NASDAQ:BBOT) Posts Quarterly Earnings Results, Beats Estimates By $0.22 EPS

BridgeBio Oncology Therapeutics (NASDAQ:BBOT) released its quarterly earnings results on Tuesday. The company reported ($0.43) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.65) by $0.22, FiscalAI reports.

BridgeBio Oncology Therapeutics Price Performance

BBOT traded up $0.19 during trading on Wednesday, hitting $2.39. 90,572 shares of the stock traded hands, compared to its average volume of 425,169. The business has a 50 day moving average price of $4.04 and a 200 day moving average price of $7.84. BridgeBio Oncology Therapeutics has a twelve month low of $1.98 and a twelve month high of $14.87. The company has a market cap of $191.53 million, a price-to-earnings ratio of -0.86 and a beta of 0.86.

Hedge Funds Weigh In On BridgeBio Oncology Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of the business. Regents of The University of California acquired a new position in shares of BridgeBio Oncology Therapeutics during the 3rd quarter worth $10,289,000. Opaleye Management Inc. grew its position in BridgeBio Oncology Therapeutics by 1,213.8% in the second quarter. Opaleye Management Inc. now owns 700,000 shares of the company’s stock valued at $5,334,000 after acquiring an additional 646,718 shares during the last quarter. Granahan Investment Management LLC acquired a new position in BridgeBio Oncology Therapeutics during the first quarter worth about $2,068,000. Avidity Partners Management LP acquired a new position in BridgeBio Oncology Therapeutics during the first quarter worth about $392,000. Finally, Renaissance Technologies LLC lifted its holdings in shares of BridgeBio Oncology Therapeutics by 37.1% in the first quarter. Renaissance Technologies LLC now owns 101,900 shares of the company’s stock worth $912,000 after acquiring an additional 27,600 shares during the last quarter. Institutional investors own 54.89% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Raymond James Financial reduced their price target on BridgeBio Oncology Therapeutics from $24.00 to $22.00 and set an “outperform” rating on the stock in a research report on Wednesday, September 9th. Wedbush dropped their price objective on BridgeBio Oncology Therapeutics to $9.00 and set an “outperform” rating for the company in a report on Wednesday. Oppenheimer cut their target price on BridgeBio Oncology Therapeutics to $16.00 and set an “outperform” rating for the company in a research report on Tuesday, October 20th. Morgan Stanley reduced their target price on BridgeBio Oncology Therapeutics to $13.00 and set an “overweight” rating on the stock in a report on Wednesday, October 21st. Finally, JPMorgan Chase & Co. reduced their target price on BridgeBio Oncology Therapeutics from $25.00 to $23.00 and set an “overweight” rating on the stock in a report on Friday, September 11th. Ten research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $19.33.

BridgeBio Oncology Therapeutics Company Profile

BridgeBio Oncology Therapeutics, Inc. is a clinical-stage biopharmaceutical company focused on developing precision medicines for patients with genetically driven cancers. The company is part of the broader BridgeBio platform, which supports the development of therapies for diseases linked to well-defined biological targets. Its oncology programs are centered on small-molecule therapies intended to address cancer-causing genetic alterations, including targets that have historically been difficult to treat.