BridgeBio Oncology Therapeutics, Inc (NASDAQ:BBOT) Stock Rated “Moderate Buy” by Wall Street Analysts

Shares of BridgeBio Oncology Therapeutics, Inc (NASDAQ:BBOT) have earned a consensus rating of “Moderate Buy” from the ten ratings firms that are covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell rating and nine have issued a buy rating on the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $22.88.

Several equities research analysts have recently weighed in on BBOT shares. UBS Group cut BridgeBio Oncology Therapeutics to an “overweight” rating in a research note on Wednesday, July 8th. Wedbush reaffirmed an “outperform” rating and issued a $25.00 price objective on shares of BridgeBio Oncology Therapeutics in a research note on Wednesday, September 9th. Raymond James Financial cut their price objective on BridgeBio Oncology Therapeutics from $24.00 to $22.00 and set an “outperform” rating on the stock in a research note on Wednesday, September 9th. Leerink Partners reduced their target price on BridgeBio Oncology Therapeutics to $27.00 and set an “outperform” rating on the stock in a report on Thursday, September 10th. Finally, Weiss Ratings downgraded shares of BridgeBio Oncology Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Opaleye Management Inc. grew its holdings in BridgeBio Oncology Therapeutics by 1,213.8% during the 2nd quarter. Opaleye Management Inc. now owns 700,000 shares of the company’s stock worth $5,334,000 after acquiring an additional 646,718 shares during the period. Armistice Capital LLC raised its position in shares of BridgeBio Oncology Therapeutics by 142.7% in the 4th quarter. Armistice Capital LLC now owns 1,000,000 shares of the company’s stock worth $12,520,000 after acquiring an additional 588,000 shares in the last quarter. Catalio Capital Management LP acquired a new position in shares of BridgeBio Oncology Therapeutics in the 4th quarter valued at about $5,142,000. Granahan Investment Management LLC acquired a new position in shares of BridgeBio Oncology Therapeutics in the 1st quarter valued at about $2,068,000. Finally, Avidity Partners Management LP bought a new stake in shares of BridgeBio Oncology Therapeutics during the 1st quarter valued at about $392,000. Institutional investors and hedge funds own 54.89% of the company’s stock.

BridgeBio Oncology Therapeutics Stock Performance

Shares of NASDAQ:BBOT opened at $3.26 on Thursday. The firm has a market cap of $261.35 million, a PE ratio of -1.18 and a beta of 0.65. The firm’s fifty day moving average is $6.78 and its 200-day moving average is $7.84. BridgeBio Oncology Therapeutics has a 52 week low of $3.23 and a 52 week high of $14.87.

BridgeBio Oncology Therapeutics (NASDAQ:BBOT) last posted its quarterly earnings data on Tuesday, August 11th. The company reported ($705.20) earnings per share for the quarter. Sell-side analysts forecast that BridgeBio Oncology Therapeutics will post -2.79 EPS for the current year.

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-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.