Wedbush Reaffirms Outperform Rating for BridgeBio Oncology Therapeutics (NASDAQ:BBOT)

Key Points

• Wedbush reaffirmed an “outperform” rating on BridgeBio Oncology Therapeutics with a $25 price target, implying approximately 182% upside from the stock’s reported $8.86 price.
• Analyst sentiment is broadly positive: eight analysts rate BBOT a Buy and one rates it a Sell, resulting in a consensus “Moderate Buy” rating and an average target of $24.50.
• BridgeBio reported a quarterly loss of $705.20 per share, while analysts forecast a full-year loss of $2.79 per share. Hedge funds and other institutional investors own 54.89% of the company.

BridgeBio Oncology Therapeutics (NASDAQ:BBOT - Get Free Report)'s stock had its "outperform" rating reaffirmed by analysts at Wedbush in a note issued to investors on Wednesday, Benzinga reports. They currently have a $25.00 price objective on the stock. Wedbush's target price suggests a potential upside of 182.17% from the stock's current price.

A number of other equities analysts also recently commented on BBOT. Weiss Ratings restated a "sell (d-)" rating on shares of BridgeBio Oncology Therapeutics in a report on Thursday, June 18th. UBS Group cut shares of BridgeBio Oncology Therapeutics to an "overweight" rating in a research report on Wednesday, July 8th. JPMorgan Chase & Co. reduced their target price on BridgeBio Oncology Therapeutics from $27.00 to $25.00 and set an "overweight" rating on the stock in a report on Friday, August 14th. Oppenheimer began coverage on BridgeBio Oncology Therapeutics in a report on Monday, June 22nd. They issued an "outperform" rating and a $22.00 price objective for the company. Finally, Wall Street Zen raised shares of BridgeBio Oncology Therapeutics from a "strong sell" rating to a "sell" rating in a research report on Saturday, July 18th. Eight investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $24.50.

BridgeBio Oncology Therapeutics Trading Down 1.3%

BBOT stock opened at $8.86 on Wednesday. The stock has a market capitalization of $710.34 million, a price-to-earnings ratio of -3.21 and a beta of 0.38. The firm's 50-day moving average price is $8.79 and its two-hundred day moving average price is $8.75. BridgeBio Oncology Therapeutics has a 12-month low of $7.00 and a 12-month high of $14.87.

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

Institutional Investors Weigh In On BridgeBio Oncology Therapeutics

Several institutional investors have recently modified their holdings of the business. CIBC Private Wealth Group LLC bought a new position in BridgeBio Oncology Therapeutics during the 4th quarter valued at about $63,000. XTX Topco Ltd grew its position in BridgeBio Oncology Therapeutics by 22.4% in the 4th quarter. XTX Topco Ltd now owns 28,633 shares of the company's stock worth $358,000 after purchasing an additional 5,249 shares during the period. Persistent Asset Partners Ltd bought a new position in shares of BridgeBio Oncology Therapeutics during the 4th quarter valued at $107,000. Tema ETFs LLC boosted its stake in shares of BridgeBio Oncology Therapeutics by 13.6% in the 2nd quarter. Tema ETFs 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. Finally, Squarepoint Ops LLC purchased a new stake in BridgeBio Oncology Therapeutics during the fourth quarter valued at $144,000. 54.89% of the stock is owned by hedge funds and other institutional investors.

BridgeBio Oncology Therapeutics Company Profile

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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