JPMorgan Chase & Co. Begins Coverage on BridgeBio Oncology Therapeutics (NASDAQ:BBOT)

Stock analysts at JPMorgan Chase & Co. began coverage on shares of BridgeBio Oncology Therapeutics (NASDAQ:BBOT) in a report released on Wednesday,Benzinga reports. The firm set an “overweight” rating and a $27.00 price target on the stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 225.69% from the stock’s previous close.

Several other analysts also recently commented on the company. Wall Street Zen downgraded BridgeBio Oncology Therapeutics from a “sell” rating to a “strong sell” rating in a research note on Saturday, May 16th. Canaccord Genuity Group began 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. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of BridgeBio Oncology Therapeutics in a research report on Thursday, June 18th. Oppenheimer started coverage on BridgeBio Oncology Therapeutics in a report on Monday, June 22nd. They issued an “outperform” rating and a $22.00 price objective for the company. Finally, UBS Group lowered BridgeBio Oncology Therapeutics to an “overweight” rating in a research report on Wednesday. Seven research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $24.80.

BridgeBio Oncology Therapeutics Price Performance

Shares of BridgeBio Oncology Therapeutics stock opened at $8.29 on Wednesday. The business has a 50-day moving average price of $8.10. The stock has a market capitalization of $664.11 million, a PE ratio of -4.04 and a beta of 0.39. BridgeBio Oncology Therapeutics has a 52-week low of $7.00 and a 52-week high of $14.87.

BridgeBio Oncology Therapeutics (NASDAQ:BBOT) last announced its quarterly earnings results on Tuesday, May 12th. The company reported ($526.11) earnings per share for the quarter. On average, research analysts forecast that BridgeBio Oncology Therapeutics will post -2.33 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Armistice Capital LLC raised its stake in shares of BridgeBio Oncology Therapeutics by 142.7% in the fourth quarter. Armistice Capital LLC now owns 1,000,000 shares of the company’s stock worth $12,520,000 after buying an additional 588,000 shares during the period. Laurion Capital Management LP grew its holdings in 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 buying an additional 419,138 shares in the last quarter. Catalio Capital Management LP bought a new stake in shares of BridgeBio Oncology Therapeutics during the fourth quarter valued at approximately $5,142,000. Paradigm Biocapital Advisors LP raised its position in shares of BridgeBio Oncology Therapeutics by 21.2% during the fourth 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 last quarter. Finally, Granahan Investment Management LLC bought a new position in shares of BridgeBio Oncology Therapeutics during the first quarter worth $2,068,000. 54.89% of the stock is currently owned by institutional investors.

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.