BridgeBio Oncology Therapeutics (NASDAQ:BBOT) Upgraded to Hold at Wall Street Zen

Wall Street Zen upgraded shares of BridgeBio Oncology Therapeutics (NASDAQ:BBOT) from a sell rating to a hold rating in a report issued on Saturday,Wall Street Zen reports.

Other equities analysts also recently issued reports about the company. Morgan Stanley lowered their price target on BridgeBio Oncology Therapeutics to $13.00 and set an “overweight” rating for the company in a report on Wednesday, October 21st. JPMorgan Chase & Co. cut their price objective on shares of BridgeBio Oncology Therapeutics from $25.00 to $23.00 and set an “overweight” rating on the stock in a report on Friday, September 11th. Canaccord Genuity Group reduced their price objective on shares of BridgeBio Oncology Therapeutics from $23.00 to $20.00 and set a “buy” rating for the company in a research report on Wednesday, September 9th. Weiss Ratings cut shares of BridgeBio Oncology Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, October 9th. Finally, Wedbush dropped their target price on shares of BridgeBio Oncology Therapeutics to $9.00 and set an “outperform” rating on the stock in a research report on Wednesday. Ten equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $19.33.

BridgeBio Oncology Therapeutics Stock Performance

NASDAQ BBOT traded down $0.21 during trading on Friday, reaching $2.14. 677,479 shares of the company’s stock were exchanged, compared to its average volume of 704,057. The company has a 50 day moving average price of $3.65 and a two-hundred day moving average price of $7.68. The stock has a market cap of $171.74 million, a P/E ratio of -0.99 and a beta of 0.86. BridgeBio Oncology Therapeutics has a 1 year low of $1.98 and a 1 year high of $14.87.

BridgeBio Oncology Therapeutics (NASDAQ:BBOT) last released its quarterly earnings data on Tuesday, November 10th. The company reported ($0.43) EPS for the quarter, beating analysts’ consensus estimates of ($0.65) by $0.22. Research analysts forecast that BridgeBio Oncology Therapeutics will post -2.75 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in BBOT. Marshall Wace LLP purchased a new stake in BridgeBio Oncology Therapeutics in the third quarter valued at approximately $1,980,000. Palumbo Wealth Management LLC increased its holdings in shares of BridgeBio Oncology Therapeutics by 11.5% in the 3rd quarter. Palumbo Wealth Management LLC now owns 95,443 shares of the company’s stock valued at $391,000 after acquiring an additional 9,819 shares during the period. China Universal Asset Management Co. Ltd. acquired a new position in shares of BridgeBio Oncology Therapeutics in the 3rd quarter valued at $63,000. Regents of The University of California purchased a new stake in BridgeBio Oncology Therapeutics in the 3rd quarter valued at $10,289,000. Finally, Opaleye Management Inc. raised its position in BridgeBio Oncology Therapeutics by 1,213.8% in the 2nd 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 last quarter. Institutional investors and hedge funds own 54.89% of the company’s stock.

About BridgeBio Oncology Therapeutics

BridgeBio Oncology Therapeutics, Inc. is a clinical-stage biopharmaceutical company focused on developing targeted treatments for cancers driven by RAS and related signaling pathways. The company’s research centers on disrupting molecular signals that help cancer cells grow and survive. Its development programs include drug candidates designed to target KRAS mutations and interactions between RAS and other cancer-related proteins. These investigational medicines are being studied for potential use in solid tumors; they are not approved treatments.