Leerink Partners Lowers BridgeBio Oncology Therapeutics (NASDAQ:BBOT) Price Target to $27.00

Key Points

• Leerink Partners lowered BridgeBio Oncology Therapeutics’ price target to $27 but maintained an “outperform” rating, implying substantial upside from the stock’s recent close.
• BBOT shares fell to $5.69, near their 52-week low of $5.51, while the stock trades well below its 50-day and 200-day moving averages. The company reported a quarterly loss of $705.20 per share.
• Analyst sentiment remains broadly positive, with nine Buy ratings and one Sell rating, producing a consensus “Moderate Buy” rating and an average price target of $23.12; institutional investors and hedge funds own 54.89% of the stock.

BridgeBio Oncology Therapeutics (NASDAQ:BBOT - Get Free Report) had its price target decreased by Leerink Partners to $27.00 in a report released on Thursday, Benzinga reports. The firm presently has an "outperform" rating on the stock. Leerink Partners' target price would indicate a potential upside of 374.18% from the stock's previous close.

BBOT has been the topic of several other reports. JPMorgan Chase & Co. dropped their price target on shares of BridgeBio Oncology Therapeutics from $27.00 to $25.00 and set an "overweight" rating on the stock in a research note on Friday, August 14th. Oppenheimer started 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 on the stock. Wedbush restated an "outperform" rating and set a $25.00 target price on shares of BridgeBio Oncology Therapeutics in a research report on Wednesday. Canaccord Genuity Group reduced their price target on BridgeBio Oncology Therapeutics from $23.00 to $20.00 and set a "buy" rating on the stock in a research note on Wednesday. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of BridgeBio Oncology Therapeutics in a report on Thursday, June 18th. Nine investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $23.12.

BridgeBio Oncology Therapeutics Stock Performance

Shares of NASDAQ BBOT traded down $1.07 during mid-day trading on Thursday, reaching $5.69. 959,196 shares of the company's stock were exchanged, compared to its average volume of 359,461. The firm has a market capitalization of $456.49 million, a price-to-earnings ratio of -2.05 and a beta of 0.38. The company's 50-day moving average is $8.77 and its 200-day moving average is $8.73. BridgeBio Oncology Therapeutics has a 52-week low of $5.51 and a 52-week high of $14.87.

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

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. CIBC Private Wealth Group LLC purchased a new stake in shares of BridgeBio Oncology Therapeutics during the fourth quarter valued at $63,000. XTX Topco Ltd lifted its holdings in shares of BridgeBio Oncology Therapeutics by 22.4% during the fourth quarter. XTX Topco Ltd now owns 28,633 shares of the company's stock worth $358,000 after buying an additional 5,249 shares during the last quarter. Persistent Asset Partners Ltd acquired a new position in BridgeBio Oncology Therapeutics in the 4th quarter valued at approximately $107,000. Tema ETFs LLC boosted its position in shares of BridgeBio Oncology Therapeutics by 13.6% during the 2nd quarter. Tema ETFs LLC now owns 93,339 shares of the company's stock valued at $711,000 after acquiring an additional 11,167 shares in the last quarter. Finally, Tidal Investments LLC grew its position in BridgeBio Oncology Therapeutics by 13.6% in the second quarter. Tidal Investments LLC now owns 93,339 shares of the company's stock valued at $711,000 after acquiring an additional 11,167 shares during the period. 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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