Octagon Capital Advisors LP Sells 324,110 Shares of BridgeBio Oncology Therapeutics, Inc $BBOT

Key Points

• Octagon Capital Advisors cut its BridgeBio Oncology Therapeutics stake by 31.1%, selling 324,110 shares and retaining 719,000 shares worth approximately $6.44 million. Institutional investors collectively own 54.89% of the company.
• BBOT shares opened at $8.82, with a 12-month range of $7.00 to $14.87 and a market capitalization of approximately $706.6 million. The company reported quarterly EPS of negative $526.11, while analysts forecast full-year EPS of negative $2.30.
• Analyst sentiment remains generally positive, with seven Buy ratings and one Sell rating producing a “Moderate Buy” consensus and an average price target of $24.80; recent targets range from $22 to $27.

Octagon Capital Advisors LP lessened its stake in BridgeBio Oncology Therapeutics, Inc (NASDAQ:BBOT - Free Report) by 31.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 719,000 shares of the company's stock after selling 324,110 shares during the quarter. BridgeBio Oncology Therapeutics accounts for approximately 0.7% of Octagon Capital Advisors LP's holdings, making the stock its 24th biggest position. Octagon Capital Advisors LP owned approximately 0.90% of BridgeBio Oncology Therapeutics worth $6,435,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. CIBC Private Wealth Group LLC bought a new stake in BridgeBio Oncology Therapeutics during the 4th quarter valued at about $63,000. Persistent Asset Partners Ltd bought a new position in shares of BridgeBio Oncology Therapeutics in the fourth quarter worth approximately $107,000. Squarepoint Ops LLC bought a new position in shares of BridgeBio Oncology Therapeutics in the fourth quarter worth approximately $144,000. Quadrature Capital Ltd purchased a new stake in shares of BridgeBio Oncology Therapeutics during the fourth quarter valued at approximately $162,000. Finally, BIT Capital GmbH purchased a new stake in shares of BridgeBio Oncology Therapeutics during the fourth quarter valued at approximately $313,000. Institutional investors own 54.89% of the company's stock.

BridgeBio Oncology Therapeutics Stock Performance

Shares of BridgeBio Oncology Therapeutics stock opened at $8.82 on Monday. BridgeBio Oncology Therapeutics, Inc has a twelve month low of $7.00 and a twelve month high of $14.87. The firm's 50 day moving average is $8.20. The company has a market capitalization of $706.57 million, a P/E ratio of -4.30 and a beta of 0.39.

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

Analysts Set New Price Targets

A number of equities analysts recently weighed in on BBOT shares. Wall Street Zen upgraded shares of BridgeBio Oncology Therapeutics from a "strong sell" rating to a "sell" rating in a report on Saturday, July 18th. JPMorgan Chase & Co. assumed coverage on BridgeBio Oncology Therapeutics in a research note on Wednesday, July 8th. They set an "overweight" rating and a $27.00 target price on the stock. Weiss Ratings reissued a "sell (d-)" rating on shares of BridgeBio Oncology Therapeutics in a report on Thursday, June 18th. Oppenheimer initiated coverage on BridgeBio Oncology Therapeutics in a research note on Monday, June 22nd. They issued an "outperform" rating and a $22.00 price target for the company. Finally, Canaccord Genuity Group assumed 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 analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $24.80.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.