Opaleye Management Inc. Purchases 646,718 Shares of BridgeBio Oncology Therapeutics, Inc $BBOT

Key Points

• Opaleye Management increased its BridgeBio Oncology Therapeutics position by 1,213.8% in the second quarter, purchasing 646,718 shares to bring its total to 700,000 shares, valued at approximately $5.3 million.
• Institutional ownership remains substantial at 54.89%, with several hedge funds—including Armistice Capital, Laurion Capital and Paradigm Biocapital—also expanding their stakes.
• BBOT shares opened at $5.52, near their one-year low, despite analysts maintaining a “Moderate Buy” consensus and an average price target of $23.12; the company reported a quarterly loss of $705.20 per share.

Opaleye Management Inc. boosted its position in shares of BridgeBio Oncology Therapeutics, Inc (NASDAQ:BBOT - Free Report) by 1,213.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 700,000 shares of the company's stock after buying an additional 646,718 shares during the period. Opaleye Management Inc. owned approximately 0.87% of BridgeBio Oncology Therapeutics worth $5,334,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in BBOT. Armistice Capital LLC boosted its stake in shares of BridgeBio Oncology Therapeutics by 142.7% during the fourth quarter. Armistice Capital LLC now owns 1,000,000 shares of the company's stock valued at $12,520,000 after purchasing an additional 588,000 shares during the period. Laurion Capital Management LP increased its stake in BridgeBio Oncology Therapeutics by 40.1% in the 4th quarter. Laurion Capital Management LP now owns 1,464,938 shares of the company's stock worth $18,341,000 after buying an additional 419,138 shares during the period. Catalio Capital Management LP bought a new stake in BridgeBio Oncology Therapeutics during the 4th quarter valued at about $5,142,000. Paradigm Biocapital Advisors LP boosted its position in BridgeBio Oncology Therapeutics by 21.2% in the 4th quarter. Paradigm Biocapital Advisors LP now owns 2,261,749 shares of the company's stock valued at $28,317,000 after buying an additional 395,608 shares during the period. Finally, Granahan Investment Management LLC bought a new position in BridgeBio Oncology Therapeutics in the 1st quarter worth about $2,068,000. Hedge funds and other institutional investors own 54.89% of the company's stock.

BridgeBio Oncology Therapeutics Stock Performance

Shares of BridgeBio Oncology Therapeutics stock opened at $5.52 on Friday. The company has a market capitalization of $442.54 million, a PE ratio of -2.00 and a beta of 0.38. The company has a 50-day simple moving average of $8.72 and a two-hundred day simple moving average of $8.70. BridgeBio Oncology Therapeutics, Inc has a one year low of $5.48 and a one year high of $14.87.

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

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Leerink Partners lowered their price target on BridgeBio Oncology Therapeutics to $27.00 and set an "outperform" rating for the company in a report on Thursday. Canaccord Genuity Group reduced their price objective on BridgeBio Oncology Therapeutics from $23.00 to $20.00 and set a "buy" rating on the stock in a report on Wednesday. UBS Group lowered BridgeBio Oncology Therapeutics to an "overweight" rating in a research report on Wednesday, July 8th. Wall Street Zen upgraded BridgeBio Oncology Therapeutics from a "strong sell" rating to a "sell" rating in a report on Saturday, July 18th. Finally, Oppenheimer assumed coverage on BridgeBio Oncology Therapeutics in a research report on Monday, June 22nd. They set an "outperform" rating and a $22.00 price target on the stock. Nine equities 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 a consensus rating of "Moderate Buy" and an average target price of $23.12.

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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