BridgeBio Oncology Therapeutics, Inc (NASDAQ:BBOT) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of BridgeBio Oncology Therapeutics, Inc (NASDAQ:BBOT) have been assigned a consensus rating of “Moderate Buy” from the six research firms that are presently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation and five have given a buy recommendation to the company. The average 1 year target price among brokers that have covered the stock in the last year is $24.25.

BBOT has been the subject of a number of research analyst reports. Wall Street Zen downgraded shares of BridgeBio Oncology Therapeutics from a “sell” rating to a “strong sell” rating in a report on Saturday, May 16th. Canaccord Genuity Group initiated coverage on shares of BridgeBio Oncology Therapeutics in a research note on Monday, May 11th. They issued a “buy” rating and a $23.00 target price on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of BridgeBio Oncology Therapeutics in a research report on Thursday, June 18th. Finally, Oppenheimer initiated coverage on shares of BridgeBio Oncology Therapeutics in a research note on Monday, June 22nd. They set an “outperform” rating and a $22.00 price target for the company.

BridgeBio Oncology Therapeutics Stock Performance

NASDAQ:BBOT traded down $0.07 during trading on Tuesday, reaching $8.34. The company’s stock had a trading volume of 50,898 shares, compared to its average volume of 366,769. BridgeBio Oncology Therapeutics has a 12 month low of $7.00 and a 12 month high of $14.87. The company has a market capitalization of $667.72 million, a price-to-earnings ratio of -4.03 and a beta of 0.39. The company has a 50 day simple moving average of $8.11.

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

Hedge Funds Weigh In On BridgeBio Oncology Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the company. Catalio Capital Management LP bought a new position in BridgeBio Oncology Therapeutics in the 4th quarter worth about $5,142,000. Armistice Capital LLC increased its position in shares of BridgeBio Oncology Therapeutics by 142.7% during the fourth quarter. Armistice Capital LLC now owns 1,000,000 shares of the company’s stock valued at $12,520,000 after buying an additional 588,000 shares during the period. BIT Capital GmbH purchased a new stake in shares of BridgeBio Oncology Therapeutics in the fourth quarter worth about $313,000. The Manufacturers Life Insurance Company purchased a new stake in shares of BridgeBio Oncology Therapeutics in the fourth quarter worth about $670,000. Finally, Renaissance Technologies LLC bought a new position in shares of BridgeBio Oncology Therapeutics in the fourth quarter valued at approximately $930,000. 54.89% of the stock is 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.