Granahan Investment Management LLC Buys Shares of 231,040 BridgeBio Oncology Therapeutics, Inc $BBOT

Key Points

• Granahan Investment Management opened a new position in BridgeBio Oncology Therapeutics, buying 231,040 shares worth about $2.07 million in the first quarter.
• Other institutional investors have also been active in the stock, and hedge funds and other institutions now own about 54.89% of BridgeBio Oncology Therapeutics.
• Analysts are mixed but generally constructive: the consensus rating is Moderate Buy with an average price target of $24.80, though some firms have recent sell or downgraded ratings.

Granahan Investment Management LLC bought a new position in BridgeBio Oncology Therapeutics, Inc (NASDAQ:BBOT - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 231,040 shares of the company's stock, valued at approximately $2,068,000. Granahan Investment Management LLC owned approximately 0.29% of BridgeBio Oncology Therapeutics as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Geode Capital Management LLC raised its holdings in shares of BridgeBio Oncology Therapeutics by 3.8% during the 4th quarter. Geode Capital Management LLC now owns 561,987 shares of the company's stock valued at $7,039,000 after purchasing an additional 20,385 shares in the last quarter. Goldman Sachs Group Inc. acquired a new stake in shares of BridgeBio Oncology Therapeutics in the 4th quarter valued at $1,185,000. BIT Capital GmbH bought a new stake in BridgeBio Oncology Therapeutics in the fourth quarter worth $313,000. CIBC Private Wealth Group LLC bought a new stake in BridgeBio Oncology Therapeutics in the fourth quarter worth $63,000. Finally, Renaissance Technologies LLC acquired a new position in BridgeBio Oncology Therapeutics during the fourth quarter worth $930,000. Institutional investors and hedge funds own 54.89% of the company's stock.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. UBS Group cut BridgeBio Oncology Therapeutics to an "overweight" rating in a research report on Wednesday, July 8th. Weiss Ratings reissued a "sell (d-)" rating on shares of BridgeBio Oncology Therapeutics in a report on Thursday, June 18th. Wall Street Zen raised BridgeBio Oncology Therapeutics from a "strong sell" rating to a "sell" rating in a research report on Saturday, July 18th. JPMorgan Chase & Co. assumed coverage on BridgeBio Oncology Therapeutics in a research report on Wednesday, July 8th. They set an "overweight" rating and a $27.00 target price for the company. Finally, Canaccord Genuity Group started coverage on BridgeBio Oncology Therapeutics in a report on Monday, May 11th. They set a "buy" rating and a $23.00 price target on the stock. Seven research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $24.80.

BridgeBio Oncology Therapeutics Stock Performance

NASDAQ:BBOT opened at $8.82 on Friday. The stock's 50-day moving average is $8.20. The company has a market cap of $706.57 million, a P/E ratio of -4.30 and a beta of 0.39. BridgeBio Oncology Therapeutics, Inc has a 52-week low of $7.00 and a 52-week high of $14.87.

BridgeBio Oncology Therapeutics (NASDAQ:BBOT - Get Free Report) last released its earnings results on Tuesday, May 12th. The company reported ($526.11) earnings per share for the quarter. As a group, research analysts forecast that BridgeBio Oncology Therapeutics, Inc will post -2.3 EPS for the current fiscal year.

BridgeBio Oncology Therapeutics 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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