BridgeBio Oncology Therapeutics, Inc (NASDAQ:BBOT) Receives Consensus Rating of "Moderate Buy" from Analysts

Key Points

• Analysts maintain a “Moderate Buy” consensus on BridgeBio Oncology Therapeutics, with nine buy ratings and one sell rating among ten analysts. The average 12-month price target is $22.88.
• Several firms recently lowered their price targets, including Stifel Nicolaus to $15, Canaccord Genuity to $20, and JPMorgan to $23, while retaining positive ratings; Leerink Partners cut its target to $27.
• BBOT opened at $3.44, near its 52-week low of $3.36, and institutional investors own 54.89% of the stock. The company reported quarterly EPS of negative $705.20, with analysts forecasting full-year EPS of negative $2.79.

BridgeBio Oncology Therapeutics, Inc (NASDAQ:BBOT - Get Free Report) has earned an average rating of "Moderate Buy" from the ten analysts that are presently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating and nine have issued a buy rating on the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $22.88.

BBOT has been the topic of several recent research reports. Stifel Nicolaus decreased their price objective on BridgeBio Oncology Therapeutics from $23.00 to $15.00 and set a "buy" rating on the stock in a report on Wednesday, September 9th. Leerink Partners cut their target price on BridgeBio Oncology Therapeutics to $27.00 and set an "outperform" rating for the company in a research note on Thursday, September 10th. Wall Street Zen cut BridgeBio Oncology Therapeutics from a "sell" rating to a "strong sell" rating in a research report on Saturday, September 12th. 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. Finally, JPMorgan Chase & Co. lowered 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 report on Friday, September 11th.

Institutional Trading of BridgeBio Oncology Therapeutics

Institutional investors have recently made changes to their positions in the business. Opaleye Management Inc. increased its stake in BridgeBio Oncology Therapeutics by 1,213.8% in the second quarter. Opaleye Management Inc. now owns 700,000 shares of the company's stock valued at $5,334,000 after acquiring an additional 646,718 shares during the period. Tidal Investments LLC lifted its stake in BridgeBio Oncology Therapeutics by 13.6% during the second quarter. Tidal Investments LLC now owns 93,339 shares of the company's stock worth $711,000 after purchasing an additional 11,167 shares during the period. Tema ETFs LLC lifted its stake in BridgeBio Oncology Therapeutics by 13.6% during the second quarter. Tema ETFs LLC now owns 93,339 shares of the company's stock worth $711,000 after purchasing an additional 11,167 shares during the period. Avidity Partners Management LP acquired a new stake in BridgeBio Oncology Therapeutics during the first quarter valued at approximately $392,000. Finally, Granahan Investment Management LLC acquired a new stake in BridgeBio Oncology Therapeutics during the first quarter valued at approximately $2,068,000. 54.89% of the stock is currently owned by institutional investors and hedge funds.

BridgeBio Oncology Therapeutics Stock Performance

NASDAQ BBOT opened at $3.44 on Thursday. BridgeBio Oncology Therapeutics has a twelve month low of $3.36 and a twelve month high of $14.87. The stock has a market cap of $275.78 million, a PE ratio of -1.25 and a beta of 0.65. The firm has a 50-day simple moving average of $7.08 and a 200 day simple moving average of $7.96.

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

About BridgeBio Oncology Therapeutics

BridgeBio Oncology Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing precision medicines for genetically defined cancers. The company seeks to address cancer-causing mutations with targeted therapies designed to selectively interfere with disease-driving proteins and pathways.

Its lead program, BBO-8520, is an investigational small-molecule inhibitor targeting KRAS G12C, a mutation found in several solid tumors, including non-small cell lung cancer, colorectal cancer and pancreatic cancer.

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