Wedbush Issues Pessimistic Forecast for BridgeBio Oncology Therapeutics (NASDAQ:BBOT) Stock Price

Key Points

• Wedbush cut its price target for BridgeBio Oncology Therapeutics to $9 from a higher prior level but maintained an “outperform” rating; the target implies about 293% upside from the stock’s current price.
• Other analysts have also reduced price targets, though the consensus remains “Moderate Buy” with a $19.33 average target; ten analysts rate the stock Buy and one rates it Sell.
• The company reported a quarterly loss of $0.43 per share, beating the consensus estimate of a $0.65 loss per share.

BridgeBio Oncology Therapeutics (NASDAQ:BBOT - Get Free Report) had its price objective cut by research analysts at Wedbush to $9.00 in a report released on Wednesday, Benzinga reports. The firm currently has an "outperform" rating on the stock. Wedbush's target price points to a potential upside of 293.01% from the company's current price.

BBOT has been the subject of a number of other reports. Stifel Nicolaus lowered their target price on 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. JPMorgan Chase & Co. reduced their price target on shares of BridgeBio Oncology Therapeutics from $25.00 to $23.00 and set an "overweight" rating on the stock in a research report on Friday, September 11th. Canaccord Genuity Group decreased their price target 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. Wall Street Zen upgraded shares of BridgeBio Oncology Therapeutics from a "strong sell" rating to a "sell" rating in a research report on Saturday, October 17th. Finally, Weiss Ratings lowered shares of BridgeBio Oncology Therapeutics from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Friday, October 9th. Ten investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, BridgeBio Oncology Therapeutics currently has a consensus rating of "Moderate Buy" and a consensus price target of $19.33.

BridgeBio Oncology Therapeutics Trading Up 4.1%

Shares of BridgeBio Oncology Therapeutics stock opened at $2.29 on Wednesday. The stock has a 50 day moving average of $4.04 and a 200 day moving average of $7.84. BridgeBio Oncology Therapeutics has a 12 month low of $1.98 and a 12 month high of $14.87. The firm has a market cap of $183.59 million, a PE ratio of -0.83 and a beta of 0.86.

BridgeBio Oncology Therapeutics (NASDAQ:BBOT - Get Free Report) last released its quarterly earnings results on Tuesday, November 10th. The company reported ($0.43) earnings per share for the quarter, beating the consensus estimate of ($0.65) by $0.22. As a group, equities research analysts forecast that BridgeBio Oncology Therapeutics will post -2.81 earnings per share for the current fiscal year.

Institutional Investors Weigh In On BridgeBio Oncology Therapeutics

Institutional investors have recently modified their holdings of the stock. Regents of The University of California purchased a new position in shares of BridgeBio Oncology Therapeutics in the 3rd quarter worth approximately $10,289,000. Opaleye Management Inc. raised its holdings in BridgeBio Oncology Therapeutics by 1,213.8% during 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 during the period. Granahan Investment Management LLC bought a new stake in BridgeBio Oncology Therapeutics in the first quarter worth $2,068,000. Renaissance Technologies LLC lifted its position in BridgeBio Oncology Therapeutics by 37.1% in the first quarter. Renaissance Technologies LLC now owns 101,900 shares of the company's stock worth $912,000 after buying an additional 27,600 shares during the last quarter. Finally, Tidal Investments LLC lifted 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 worth $711,000 after buying an additional 11,167 shares during the last quarter. 54.89% of the stock is owned by institutional investors.

About BridgeBio Oncology Therapeutics

BridgeBio Oncology Therapeutics, Inc. is a clinical-stage biopharmaceutical company focused on developing precision medicines for patients with genetically driven cancers. The company is part of the broader BridgeBio platform, which supports the development of therapies for diseases linked to well-defined biological targets. Its oncology programs are centered on small-molecule therapies intended to address cancer-causing genetic alterations, including targets that have historically been difficult to treat.

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