BridgeBio Oncology Therapeutics (NASDAQ:BBOT) Rating Lowered to Strong Sell at Wall Street Zen

Key Points

• Wall Street Zen downgraded BridgeBio Oncology Therapeutics to “strong sell” from “sell,” despite nine other analysts rating the stock a Buy and the overall consensus remaining “Moderate Buy” with an average price target of $22.88.
• BBOT shares fell 10.3% and opened at $4.95, near their 12-month low of $4.90. The company reported a quarterly loss of $705.20 per share, while analysts expect a full-year loss of $2.79 per share.
• Institutional investors and hedge funds own 54.89% of the company, with several major funds recently increasing their positions, including Opaleye Management, Armistice Capital and Laurion Capital.

BridgeBio Oncology Therapeutics (NASDAQ:BBOT - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "sell" rating to a "strong sell" rating in a report issued on Saturday, Wall Street Zen reports.

BBOT has been the topic of a number of other reports. Oppenheimer began coverage on BridgeBio Oncology Therapeutics in a report on Monday, June 22nd. They issued an "outperform" rating and a $22.00 price target on the stock. Leerink Partners decreased their price objective on BridgeBio Oncology Therapeutics to $27.00 and set an "outperform" rating for the company in a report on Thursday. Wedbush reissued an "outperform" rating and issued a $25.00 target price on shares of BridgeBio Oncology Therapeutics in a research report on Wednesday. UBS Group lowered BridgeBio Oncology Therapeutics to an "overweight" rating in a research report on Wednesday, July 8th. Finally, Raymond James Financial cut their target price on BridgeBio Oncology Therapeutics from $24.00 to $22.00 and set an "outperform" rating on the stock in a research note on Wednesday. Nine equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $22.88.

BridgeBio Oncology Therapeutics Stock Down 10.3%

Shares of NASDAQ:BBOT opened at $4.95 on Friday. BridgeBio Oncology Therapeutics has a 12 month low of $4.90 and a 12 month high of $14.87. The company's fifty day simple moving average is $8.66 and its 200 day simple moving average is $8.67. The firm has a market cap of $396.84 million, a price-to-earnings ratio of -1.79 and a beta of 0.38.

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

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Opaleye Management Inc. raised its stake in shares of 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 purchasing an additional 646,718 shares in the last quarter. Armistice Capital LLC grew its stake in shares of BridgeBio Oncology Therapeutics by 142.7% in the fourth quarter. Armistice Capital LLC now owns 1,000,000 shares of the company's stock valued at $12,520,000 after buying an additional 588,000 shares in the last quarter. Laurion Capital Management LP grew its stake in shares of BridgeBio Oncology Therapeutics by 40.1% in the fourth quarter. Laurion Capital Management LP now owns 1,464,938 shares of the company's stock valued at $18,341,000 after buying an additional 419,138 shares in the last quarter. Catalio Capital Management LP acquired a new position in BridgeBio Oncology Therapeutics during the fourth quarter worth $5,142,000. Finally, Paradigm Biocapital Advisors LP increased its holdings in BridgeBio Oncology Therapeutics by 21.2% during the fourth quarter. Paradigm Biocapital Advisors LP now owns 2,261,749 shares of the company's stock worth $28,317,000 after buying an additional 395,608 shares during the last quarter. 54.89% of the stock is owned by institutional investors and hedge funds.

About BridgeBio Oncology Therapeutics

BridgeBio Oncology Therapeutics NASDAQ: BBOT is a publicly traded biotechnology company focused on discovering and developing therapies for cancer. The company concentrates on translating scientific insights into clinical-stage programs aimed at addressing oncology indications with unmet medical need.

BridgeBio Oncology’s activities center on research and development of investigational therapeutics, advancing drug candidates through preclinical studies and clinical trials. Its work typically involves in-house discovery efforts and collaborations with academic and industry partners to identify targets, optimize compounds, and generate the clinical data needed to support regulatory development.

Public information about BridgeBio Oncology Therapeutics’ specific programs, geographic operations and leadership is limited in the sources available here.

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