BridgeBio Oncology Therapeutics (NASDAQ:BBOT) Raised to "Hold" at Wall Street Zen

Key Points

• Wall Street Zen upgraded BridgeBio Oncology Therapeutics from “sell” to “hold.” Despite this, MarketBeat reports an overall “Moderate Buy” consensus from 10 Buy and one Sell rating, with an average price target of $19.33.
• BBOT shares were reported down 8.9%, opening at $2.14; the stock’s 52-week range is $1.98 to $14.87.
• The company reported a quarterly loss of $0.43 per share, narrower than analysts’ expected loss of $0.65 per share.

BridgeBio Oncology Therapeutics (NASDAQ:BBOT - Get Free Report) was upgraded by analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research report issued to clients and investors on Saturday, Wall Street Zen reports.

A number of other equities research analysts also recently issued reports on BBOT. Weiss Ratings downgraded shares of BridgeBio Oncology Therapeutics from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Friday, October 9th. Raymond James Financial dropped their target price on shares of 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. Leerink Partners cut their target price on BridgeBio Oncology Therapeutics to $27.00 and set an "outperform" rating on the stock in a research note on Thursday, September 10th. JPMorgan Chase & Co. reduced their target price on BridgeBio Oncology Therapeutics from $25.00 to $23.00 and set an "overweight" rating for the company in a report on Friday, September 11th. Finally, Wedbush decreased their price target on BridgeBio Oncology Therapeutics to $9.00 and set an "outperform" rating for the company in a research report on Wednesday. Ten equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. According to MarketBeat, BridgeBio Oncology Therapeutics presently has an average rating of "Moderate Buy" and an average price target of $19.33.

BridgeBio Oncology Therapeutics Stock Down 8.9%

BBOT opened at $2.14 on Friday. The firm's fifty day moving average price is $3.65 and its two-hundred day moving average price is $7.68. BridgeBio Oncology Therapeutics has a 1 year low of $1.98 and a 1 year high of $14.87.

BridgeBio Oncology Therapeutics (NASDAQ:BBOT - Get Free Report) last posted its earnings results on Tuesday, November 10th. The company reported ($0.43) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.65) by $0.22. Sell-side analysts predict that BridgeBio Oncology Therapeutics will post -2.75 EPS for the current fiscal year.

Hedge Funds Weigh In On BridgeBio Oncology Therapeutics

Institutional investors have recently bought and sold shares of the company. Marshall Wace LLP purchased a new stake in BridgeBio Oncology Therapeutics during the third quarter valued at about $1,980,000. Palumbo Wealth Management LLC lifted its stake in shares of BridgeBio Oncology Therapeutics by 11.5% during the 3rd quarter. Palumbo Wealth Management LLC now owns 95,443 shares of the company's stock valued at $391,000 after buying an additional 9,819 shares in the last quarter. China Universal Asset Management Co. Ltd. purchased a new stake in shares of BridgeBio Oncology Therapeutics during the 3rd quarter valued at approximately $63,000. Regents of The University of California bought a new position in BridgeBio Oncology Therapeutics in the 3rd quarter worth approximately $10,289,000. Finally, Opaleye Management Inc. grew its stake 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 in the last quarter. Hedge funds and other institutional investors 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 targeted treatments for cancers driven by RAS and related signaling pathways. The company's research centers on disrupting molecular signals that help cancer cells grow and survive. Its development programs include drug candidates designed to target KRAS mutations and interactions between RAS and other cancer-related proteins. These investigational medicines are being studied for potential use in solid tumors; they are not approved treatments.

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