BridgeBio Oncology Therapeutics (NASDAQ:BBOT) Shares Down 9.4% - Time to Sell?

Key Points

• BridgeBio Oncology Therapeutics shares fell 9.4% to $8.03, with trading volume 65% below its average. The stock is also trading near its 50-day and 200-day moving averages, both around $8.75.
• Despite the decline, analyst sentiment remains positive overall: eight analysts rate the stock a Buy and one rates it a Sell, resulting in a “Moderate Buy” consensus and an average price target of $22.57. However, Stifel cut its target from $23 to $15.
• The biotechnology company remains unprofitable, reporting quarterly EPS of -$705.20 and facing an expected full-year EPS loss of $2.79. Institutional investors own approximately 54.89% of its shares.

BridgeBio Oncology Therapeutics, Inc (NASDAQ:BBOT - Get Free Report) traded down 9.4% on Wednesday . The company traded as low as $8.17 and last traded at $8.03. 123,171 shares were traded during trading, a decline of 65% from the average daily volume of 348,500 shares. The stock had previously closed at $8.86.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Stifel Nicolaus decreased their target price on shares of BridgeBio Oncology Therapeutics from $23.00 to $15.00 and set a "buy" rating on the stock in a research report on Wednesday. Wedbush reissued an "outperform" rating and issued a $25.00 price target on shares of BridgeBio Oncology Therapeutics in a research note on Wednesday. Weiss Ratings restated a "sell (d-)" rating on shares of BridgeBio Oncology Therapeutics in a report on Thursday, June 18th. JPMorgan Chase & Co. lowered their price objective on shares of BridgeBio Oncology Therapeutics from $27.00 to $25.00 and set an "overweight" rating for the company in a research report on Friday, August 14th. Finally, Canaccord Genuity Group set a $20.00 target price on BridgeBio Oncology Therapeutics in a research report on Wednesday. Eight analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, BridgeBio Oncology Therapeutics presently has a consensus rating of "Moderate Buy" and an average price target of $22.57.

BridgeBio Oncology Therapeutics Trading Down 15.6%

The firm's fifty day simple moving average is $8.79 and its 200 day simple moving average is $8.75. The company has a market cap of $599.62 million, a price-to-earnings ratio of -2.72 and a beta of 0.38.

BridgeBio Oncology Therapeutics (NASDAQ:BBOT - Get Free Report) last issued its earnings results on Tuesday, August 11th. The company reported ($705.20) earnings per share for the quarter. As a group, sell-side analysts expect that BridgeBio Oncology Therapeutics, Inc will post -2.79 EPS for the current year.

Institutional Trading of BridgeBio Oncology Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in BBOT. CIBC Private Wealth Group LLC purchased a new position in BridgeBio Oncology Therapeutics in the fourth quarter valued at about $63,000. Persistent Asset Partners Ltd purchased a new position in BridgeBio Oncology Therapeutics in the 4th quarter valued at approximately $107,000. Squarepoint Ops LLC acquired a new position in BridgeBio Oncology Therapeutics during the fourth quarter worth $144,000. Quadrature Capital Ltd purchased a new stake in BridgeBio Oncology Therapeutics during the fourth quarter worth $162,000. Finally, BIT Capital GmbH acquired a new stake in BridgeBio Oncology Therapeutics in the fourth quarter valued at $313,000. Hedge funds and other institutional investors own 54.89% of the company's stock.

About BridgeBio Oncology Therapeutics

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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