BridgeBio Oncology Therapeutics (NASDAQ:BBOT) Upgraded to "Sell" at Wall Street Zen

Key Points

• Wall Street Zen upgraded BridgeBio Oncology Therapeutics from “strong sell” to “sell,” although broader analyst sentiment remains “Moderate Buy,” with nine Buy ratings and one Sell rating.
• Analysts have reduced some price targets, but the consensus target remains $22.88 versus the stock’s recent opening price of $2.82. Shares are near their 52-week low of $2.81.
• The clinical-stage biotech reported a quarterly loss of $705.20 per share, while institutional investors own 54.89% of the company. Its lead program, BBO-8520, is an experimental KRAS G12C inhibitor for genetically defined cancers.

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

A number of other analysts also recently issued reports on BBOT. Stifel Nicolaus dropped their target price on shares of BridgeBio Oncology Therapeutics from $23.00 to $15.00 and set a "buy" rating for the company in a research report on Wednesday, September 9th. Weiss Ratings cut BridgeBio Oncology Therapeutics from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Friday, October 9th. Canaccord Genuity Group dropped their price objective on shares of BridgeBio Oncology Therapeutics from $23.00 to $20.00 and set a "buy" rating on the stock in a research note on Wednesday, September 9th. UBS Group lowered shares of BridgeBio Oncology Therapeutics to an "overweight" rating in a research report on Wednesday, July 8th. Finally, Wedbush reaffirmed an "outperform" rating and issued a $25.00 price objective on shares of BridgeBio Oncology Therapeutics in a report on Wednesday, September 9th. Nine research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $22.88.

BridgeBio Oncology Therapeutics Price Performance

Shares of BridgeBio Oncology Therapeutics stock opened at $2.82 on Friday. BridgeBio Oncology Therapeutics has a fifty-two week low of $2.81 and a fifty-two week high of $14.87. The business's fifty day moving average is $6.29 and its two-hundred day moving average is $7.68.

BridgeBio Oncology Therapeutics (NASDAQ:BBOT - Get Free Report) last posted its quarterly earnings data on Tuesday, August 11th. The company reported ($705.20) EPS for the quarter. As a group, equities analysts expect that BridgeBio Oncology Therapeutics will post -2.79 EPS for the current year.

Institutional Investors Weigh In On BridgeBio Oncology Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of the business. Avidity Partners Management LP bought a new position in shares of BridgeBio Oncology Therapeutics in the first quarter valued at approximately $392,000. Tidal Investments LLC boosted its stake in BridgeBio Oncology Therapeutics by 13.6% in 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 in the last quarter. Tema ETFs LLC boosted its stake in BridgeBio Oncology Therapeutics by 13.6% in the second quarter. Tema ETFs LLC now owns 93,339 shares of the company's stock worth $711,000 after purchasing an additional 11,167 shares in the last quarter. Renaissance Technologies LLC grew its holdings in shares of BridgeBio Oncology Therapeutics by 37.1% during the first quarter. Renaissance Technologies LLC now owns 101,900 shares of the company's stock worth $912,000 after purchasing an additional 27,600 shares during the last quarter. Finally, Granahan Investment Management LLC acquired a new stake in shares of BridgeBio Oncology Therapeutics in the first quarter valued at $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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.