BridgeBio Oncology Therapeutics (NASDAQ:BBOT) Given New $23.00 Price Target at JPMorgan Chase & Co.

BridgeBio Oncology Therapeutics (NASDAQ:BBOT) had its target price decreased by analysts at JPMorgan Chase & Co. from $25.00 to $23.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 361.38% from the company’s current price.

A number of other research firms also recently issued reports on BBOT. Wedbush reissued an “outperform” rating and issued a $25.00 price target on shares of BridgeBio Oncology Therapeutics in a research note on Wednesday. Leerink Partners reduced their target price on BridgeBio Oncology Therapeutics to $27.00 and set an “outperform” rating on the stock in a report on Thursday. Canaccord Genuity Group lowered their target price on BridgeBio Oncology Therapeutics from $23.00 to $20.00 and set a “buy” rating for the company in a research note on Wednesday. UBS Group lowered BridgeBio Oncology Therapeutics to an “overweight” rating in a research report on Wednesday, July 8th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of BridgeBio Oncology Therapeutics in a research note on Thursday, June 18th. Nine equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $22.88.

BridgeBio Oncology Therapeutics Trading Down 9.7%

Shares of BBOT traded down $0.54 during mid-day trading on Friday, reaching $4.99. The company’s stock had a trading volume of 690,042 shares, compared to its average volume of 372,501. The stock has a market cap of $399.65 million, a PE ratio of -1.80 and a beta of 0.38. BridgeBio Oncology Therapeutics has a 52 week low of $4.98 and a 52 week high of $14.87. The company’s fifty day moving average price is $8.72 and its two-hundred day moving average price is $8.70.

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

Institutional Trading of BridgeBio Oncology Therapeutics

Several large investors have recently modified their holdings of BBOT. Opaleye Management Inc. increased its holdings in BridgeBio Oncology Therapeutics by 1,213.8% during the second quarter. Opaleye Management Inc. now owns 700,000 shares of the company’s stock valued at $5,334,000 after buying an additional 646,718 shares during the last quarter. Armistice Capital LLC boosted its stake in shares of BridgeBio Oncology Therapeutics by 142.7% during the 4th quarter. Armistice Capital LLC now owns 1,000,000 shares of the company’s stock worth $12,520,000 after acquiring an additional 588,000 shares during the last quarter. Laurion Capital Management LP grew its position in shares of BridgeBio Oncology Therapeutics by 40.1% during the 4th quarter. Laurion Capital Management LP now owns 1,464,938 shares of the company’s stock valued at $18,341,000 after acquiring an additional 419,138 shares during the period. Catalio Capital Management LP bought a new stake in shares of BridgeBio Oncology Therapeutics during the 4th quarter valued at $5,142,000. Finally, Paradigm Biocapital Advisors LP increased its stake in shares of 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 worth $28,317,000 after purchasing an additional 395,608 shares in the last quarter. 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.