BridgeBio Oncology Therapeutics (NASDAQ:BBOT) Releases Earnings Results, Beats Estimates By $0.22 EPS

BridgeBio Oncology Therapeutics (NASDAQ:BBOT) announced its quarterly earnings data on Tuesday. The company reported ($0.43) EPS for the quarter, beating analysts’ consensus estimates of ($0.65) by $0.22, FiscalAI reports.

BridgeBio Oncology Therapeutics Price Performance

BridgeBio Oncology Therapeutics stock traded down $0.10 during mid-day trading on Tuesday, reaching $2.20. 486,663 shares of the company were exchanged, compared to its average volume of 426,879. The company has a fifty day simple moving average of $4.17 and a 200-day simple moving average of $7.89. BridgeBio Oncology Therapeutics has a 12 month low of $1.98 and a 12 month high of $14.87. The firm has a market cap of $176.37 million, a PE ratio of -0.80 and a beta of 0.86.

Institutional Trading of BridgeBio Oncology Therapeutics

Several large investors have recently modified their holdings of the stock. China Universal Asset Management Co. Ltd. bought a new position in BridgeBio Oncology Therapeutics in the third quarter valued at approximately $63,000. Avidity Partners Management LP bought a new stake in BridgeBio Oncology Therapeutics during the first quarter worth $392,000. Tidal Investments LLC lifted its stake in BridgeBio Oncology Therapeutics by 13.6% during the second quarter. Tidal Investments LLC now owns 93,339 shares of the company’s stock worth $711,000 after purchasing an additional 11,167 shares during the last quarter. Tema ETFs LLC lifted 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 worth $711,000 after purchasing an additional 11,167 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in shares of BridgeBio Oncology Therapeutics by 37.1% in the 1st quarter. Renaissance Technologies LLC now owns 101,900 shares of the company’s stock valued at $912,000 after purchasing an additional 27,600 shares in the last quarter. 54.89% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Raymond James Financial lowered their price target on shares of BridgeBio Oncology Therapeutics from $24.00 to $22.00 and set an “outperform” rating on the stock in a report on Wednesday, September 9th. JPMorgan Chase & Co. decreased their target price on BridgeBio Oncology Therapeutics from $25.00 to $23.00 and set an “overweight” rating on the stock in a research report on Friday, September 11th. Wedbush reaffirmed an “outperform” rating and issued a $25.00 target price on shares of BridgeBio Oncology Therapeutics in a research report on Wednesday, September 9th. Leerink Partners lowered their target price on BridgeBio Oncology Therapeutics to $27.00 and set an “outperform” rating on the stock in a research note on Thursday, September 10th. Finally, Weiss Ratings cut BridgeBio Oncology Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, October 9th. Ten analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $21.11.

BridgeBio Oncology Therapeutics Company Profile

BridgeBio Oncology Therapeutics, Inc. is a clinical-stage biopharmaceutical company focused on developing precision medicines for patients with genetically driven cancers. The company is part of the broader BridgeBio platform, which supports the development of therapies for diseases linked to well-defined biological targets. Its oncology programs are centered on small-molecule therapies intended to address cancer-causing genetic alterations, including targets that have historically been difficult to treat.