BridgeBio Oncology Therapeutics (NASDAQ:BBOT) Trading Down 7.9% - Should You Sell?

Key Points

• BridgeBio Oncology Therapeutics (NASDAQ:BBOT) fell 7.9% on Friday, trading as low as $8.45 on lighter-than-average volume.
• Despite the drop, Wall Street sentiment remains mostly positive: analysts’ average rating is Moderate Buy with a consensus price target of $24.80, though a few firms still rate the stock negatively.
• The company remains unprofitable and reported a steep quarterly loss, with analysts expecting -2.33 EPS for the current fiscal year.

Shares of BridgeBio Oncology Therapeutics, Inc (NASDAQ:BBOT - Get Free Report) traded down 7.9% on Friday . The stock traded as low as $8.45 and last traded at $8.3720. Approximately 95,326 shares traded hands during trading, a decline of 74% from the average session volume of 371,229 shares. The stock had previously closed at $9.09.

Wall Street Analysts Forecast Growth

BBOT has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. assumed coverage on shares of BridgeBio Oncology Therapeutics in a research note on Wednesday. They issued an "overweight" rating and a $27.00 target price on the stock. Canaccord Genuity Group started coverage on BridgeBio Oncology Therapeutics in a report on Monday, May 11th. They issued a "buy" rating and a $23.00 price objective for the company. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of BridgeBio Oncology Therapeutics in a report on Thursday, June 18th. UBS Group lowered BridgeBio Oncology Therapeutics to an "overweight" rating in a research report on Wednesday. Finally, Wall Street Zen downgraded BridgeBio Oncology Therapeutics from a "sell" rating to a "strong sell" rating in a report on Saturday, May 16th. Seven research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $24.80.

BridgeBio Oncology Therapeutics Price Performance

The company has a market capitalization of $676.61 million, a PE ratio of -4.10 and a beta of 0.39. The business has a 50-day simple moving average of $8.11.

BridgeBio Oncology Therapeutics (NASDAQ:BBOT - Get Free Report) last announced its quarterly earnings results on Tuesday, May 12th. The company reported ($526.11) earnings per share (EPS) for the quarter. On average, analysts anticipate that BridgeBio Oncology Therapeutics, Inc will post -2.33 EPS for the current fiscal year.

Institutional Investors Weigh In On BridgeBio Oncology Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Geode Capital Management LLC lifted its stake in shares of BridgeBio Oncology Therapeutics by 3.8% in the 4th quarter. Geode Capital Management LLC now owns 561,987 shares of the company's stock worth $7,039,000 after acquiring an additional 20,385 shares during the period. Goldman Sachs Group Inc. bought a new position in BridgeBio Oncology Therapeutics during the 4th quarter valued at $1,185,000. BIT Capital GmbH bought a new position in BridgeBio Oncology Therapeutics during the 4th quarter valued at $313,000. CIBC Private Wealth Group LLC acquired a new position in shares of BridgeBio Oncology Therapeutics during the 4th quarter valued at $63,000. Finally, Renaissance Technologies LLC bought a new stake in shares of BridgeBio Oncology Therapeutics in the 4th quarter worth $930,000. 54.89% of the stock is currently owned by 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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