BridgeBio Oncology Therapeutics, Inc (BBOT) – What Are Brokerages Saying About This Stock?

Shares of BridgeBio Oncology Therapeutics, Inc (NASDAQ:BBOT) have earned an average rating of “Moderate Buy” from the ten brokerages that are presently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating and nine have assigned a buy rating to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $22.88.

BBOT has been the subject of a number of research reports. Oppenheimer assumed coverage on BridgeBio Oncology Therapeutics in a research note on Monday, June 22nd. They issued an “outperform” rating and a $22.00 price objective for the company. UBS Group cut shares of BridgeBio Oncology Therapeutics to an “overweight” rating in a research note on Wednesday, July 8th. Wall Street Zen cut shares of BridgeBio Oncology Therapeutics from a “sell” rating to a “strong sell” rating in a report on Saturday, September 12th. Raymond James Financial reduced their target price on shares of BridgeBio Oncology Therapeutics from $24.00 to $22.00 and set an “outperform” rating for the company in a report on Wednesday, September 9th. Finally, JPMorgan Chase & Co. decreased their target price on shares of BridgeBio Oncology Therapeutics from $25.00 to $23.00 and set an “overweight” rating for the company in a research note on Friday, September 11th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Opaleye Management Inc. raised its stake in shares of 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 purchasing an additional 646,718 shares during the period. Tidal Investments LLC raised its stake in shares of BridgeBio Oncology Therapeutics by 13.6% in the 2nd quarter. Tidal Investments LLC now owns 93,339 shares of the company’s stock valued at $711,000 after purchasing an additional 11,167 shares in the last quarter. Tema ETFs LLC raised its stake in BridgeBio Oncology Therapeutics by 13.6% during the second quarter. Tema ETFs LLC now owns 93,339 shares of the company’s stock valued at $711,000 after buying an additional 11,167 shares in the last quarter. Avidity Partners Management LP bought a new position in BridgeBio Oncology Therapeutics during the first quarter worth $392,000. Finally, Granahan Investment Management LLC bought a new position in shares of BridgeBio Oncology Therapeutics in the 1st quarter worth about $2,068,000. 54.89% of the stock is currently owned by hedge funds and other institutional investors.

BridgeBio Oncology Therapeutics Stock Down 1.7%

Shares of BBOT stock opened at $2.90 on Thursday. The stock’s 50-day moving average is $6.54 and its two-hundred day moving average is $7.75. BridgeBio Oncology Therapeutics has a 1 year low of $2.88 and a 1 year high of $14.87.

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

About BridgeBio Oncology Therapeutics

BridgeBio Oncology Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing precision medicines for genetically defined cancers. The company seeks to address cancer-causing mutations with targeted therapies designed to selectively interfere with disease-driving proteins and pathways.

Its lead program, BBO-8520, is an investigational small-molecule inhibitor targeting KRAS G12C, a mutation found in several solid tumors, including non-small cell lung cancer, colorectal cancer and pancreatic cancer.