JPMorgan Chase & Co. Lowers BridgeBio Oncology Therapeutics (NASDAQ:BBOT) Price Target to $23.00

Key Points

• JPMorgan lowered BridgeBio Oncology Therapeutics’ price target to $23 from $25 while maintaining an “overweight” rating, implying substantial upside from the stock’s $4.99 closing price.
• Analyst sentiment remains broadly positive: nine analysts rate the stock a Buy and one rates it a Sell, producing a consensus “Moderate Buy” rating and an average target of $22.88.
• BBOT shares are near their 12-month low, while the company reported a quarterly loss of $705.20 per share. Institutional investors own 54.89% of the stock, with several funds recently increasing or initiating positions.

BridgeBio Oncology Therapeutics (NASDAQ:BBOT - Get Free Report) had its price target dropped by stock analysts at JPMorgan Chase & Co. from $25.00 to $23.00 in a research report issued on Friday, Benzinga reports. The brokerage currently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s price target points to a potential upside of 361.38% from the company's current price.

Several other brokerages have also recently weighed in on BBOT. Stifel Nicolaus decreased their price target on BridgeBio Oncology Therapeutics from $23.00 to $15.00 and set a "buy" rating for the company in a research note on Wednesday. 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. Oppenheimer initiated coverage on shares of BridgeBio Oncology Therapeutics in a research report on Monday, June 22nd. They set an "outperform" rating and a $22.00 target price for the company. Wedbush restated an "outperform" rating and set a $25.00 price target on shares of BridgeBio Oncology Therapeutics in a report on Wednesday. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of BridgeBio Oncology Therapeutics in a research report on Thursday, June 18th. Nine investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $22.88.

BridgeBio Oncology Therapeutics Price Performance

NASDAQ:BBOT traded down $0.54 during mid-day trading on Friday, reaching $4.99. The stock had a trading volume of 690,042 shares, compared to its average volume of 372,501. BridgeBio Oncology Therapeutics has a 12 month low of $4.98 and a 12 month high of $14.87. The stock has a market capitalization of $399.65 million, a PE ratio of -1.80 and a beta of 0.38. The stock has a 50-day simple moving average of $8.72 and a two-hundred day simple moving average of $8.70.

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

Institutional Investors Weigh In On BridgeBio Oncology Therapeutics

Institutional investors have recently bought and sold shares of the stock. Granahan Investment Management LLC bought a new stake in BridgeBio Oncology Therapeutics during the first quarter valued at approximately $2,068,000. Opaleye Management Inc. increased its holdings in shares of BridgeBio Oncology Therapeutics by 1,213.8% in the 2nd quarter. Opaleye Management Inc. now owns 700,000 shares of the company's stock worth $5,334,000 after buying an additional 646,718 shares during the last quarter. Catalio Capital Management LP bought a new position in shares of BridgeBio Oncology Therapeutics in the 4th quarter worth $5,142,000. Armistice Capital LLC raised its position in shares of BridgeBio Oncology Therapeutics by 142.7% during the 4th 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. Finally, BIT Capital GmbH purchased a new stake in shares of BridgeBio Oncology Therapeutics during the 4th quarter valued at $313,000. Institutional investors own 54.89% of the company's stock.

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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