Wall Street Zen Downgrades BridgeBio Oncology Therapeutics (NASDAQ:BBOT) to Strong Sell

BridgeBio Oncology Therapeutics (NASDAQ:BBOT) was downgraded by investment analysts at Wall Street Zen from a “sell” rating to a “strong sell” rating in a research note issued to investors on Saturday, Wall Street Zen reports.

A number of other analysts have also recently issued reports on BBOT. Wedbush reiterated an “outperform” rating and set a $25.00 target price on shares of BridgeBio Oncology Therapeutics in a report on Wednesday, September 9th. Canaccord Genuity Group cut their price target on shares of BridgeBio Oncology Therapeutics from $23.00 to $20.00 and set a “buy” rating on the stock in a report on Wednesday. Oppenheimer started coverage on shares of BridgeBio Oncology Therapeutics in a research report on Monday, June 22nd. They set an “outperform” rating and a $22.00 price target for the company. UBS Group cut BridgeBio Oncology Therapeutics to an “overweight” rating in a research note on Wednesday, July 8th. Finally, JPMorgan Chase & Co. lowered their target price on BridgeBio Oncology Therapeutics from $25.00 to $23.00 and set an “overweight” rating for the company in a research note on Friday. Nine equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $22.88.

BridgeBio Oncology Therapeutics Stock Performance

Shares of BBOT opened at $4.95 on Friday. BridgeBio Oncology Therapeutics has a twelve month low of $4.90 and a twelve month high of $14.87. The firm has a market capitalization of $396.84 million, a P/E ratio of -1.79 and a beta of 0.38. The stock’s fifty day simple moving average is $8.66 and its 200 day simple moving average is $8.66.

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

Institutional Investors Weigh In On BridgeBio Oncology Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of BBOT. Paradigm Biocapital Advisors LP boosted its stake in shares of BridgeBio Oncology Therapeutics by 21.2% during the 4th 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. Laurion Capital Management LP increased its position in shares of BridgeBio Oncology Therapeutics by 40.1% in the 4th quarter. Laurion Capital Management LP now owns 1,464,938 shares of the company’s stock worth $18,341,000 after purchasing an additional 419,138 shares during the last quarter. Armistice Capital LLC raised its stake in shares of BridgeBio Oncology Therapeutics by 142.7% in the 4th quarter. Armistice Capital LLC now owns 1,000,000 shares of the company’s stock valued at $12,520,000 after purchasing an additional 588,000 shares in the last quarter. Opaleye Management Inc. lifted its position 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 worth $5,334,000 after purchasing an additional 646,718 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in BridgeBio Oncology Therapeutics by 3.8% in the fourth 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. 54.89% of the stock is currently owned by hedge funds and other institutional investors.

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.