Leerink Partners Issues Pessimistic Forecast for BridgeBio Oncology Therapeutics (NASDAQ:BBOT) Stock Price

BridgeBio Oncology Therapeutics (NASDAQ:BBOT) had its price target reduced by stock analysts at Leerink Partners to $27.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Leerink Partners’ price objective points to a potential upside of 374.18% from the stock’s previous close.

Several other equities analysts have also issued reports on the company. UBS Group lowered BridgeBio Oncology Therapeutics to an “overweight” rating in a research note on Wednesday, July 8th. Canaccord Genuity Group decreased their target price on BridgeBio Oncology Therapeutics from $23.00 to $20.00 and set a “buy” rating on the stock in a research report on Wednesday. Wall Street Zen raised BridgeBio Oncology Therapeutics from a “strong sell” rating to a “sell” rating in a research note on Saturday, July 18th. Stifel Nicolaus dropped their target price on shares of BridgeBio Oncology Therapeutics from $23.00 to $15.00 and set a “buy” rating for the company in a report on Wednesday. Finally, Wedbush restated an “outperform” rating and issued a $25.00 price target on shares of BridgeBio Oncology Therapeutics in a research note on Wednesday. Nine investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, BridgeBio Oncology Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus target price of $23.12.

BridgeBio Oncology Therapeutics Trading Down 15.8%

Shares of BridgeBio Oncology Therapeutics stock traded down $1.07 during trading on Thursday, hitting $5.69. 959,196 shares of the stock were exchanged, compared to its average volume of 359,461. The company has a fifty day moving average price of $8.77 and a 200-day moving average price of $8.73. BridgeBio Oncology Therapeutics has a 1-year low of $5.51 and a 1-year high of $14.87. The stock has a market capitalization of $456.49 million, a price-to-earnings ratio of -2.05 and a beta of 0.38.

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

Institutional Investors Weigh In On BridgeBio Oncology Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Geode Capital Management LLC increased its holdings in BridgeBio Oncology Therapeutics by 3.8% in the 4th quarter. Geode Capital Management LLC now owns 561,987 shares of the company’s stock worth $7,039,000 after purchasing an additional 20,385 shares in the last quarter. Goldman Sachs Group Inc. acquired a new position in shares of BridgeBio Oncology Therapeutics in the fourth quarter valued at approximately $1,185,000. BIT Capital GmbH bought a new position in BridgeBio Oncology Therapeutics in the 4th quarter valued at approximately $313,000. CIBC Private Wealth Group LLC bought a new position in BridgeBio Oncology Therapeutics in the 4th quarter valued at approximately $63,000. Finally, Renaissance Technologies LLC acquired a new stake in BridgeBio Oncology Therapeutics during the 4th quarter worth approximately $930,000. Institutional investors own 54.89% of the company’s stock.

BridgeBio Oncology Therapeutics Company Profile

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.