BridgeBio Oncology Therapeutics (NASDAQ:BBOT) Earns Outperform Rating from Analysts at Oppenheimer

Stock analysts at Oppenheimer assumed coverage on shares of BridgeBio Oncology Therapeutics (NASDAQ:BBOT) in a research note issued on Monday. The firm set an “outperform” rating and a $22.00 price target on the stock. Oppenheimer’s price objective suggests a potential upside of 177.95% from the stock’s previous close.

Several other analysts have also issued reports on BBOT. Wall Street Zen lowered BridgeBio Oncology Therapeutics from a “sell” rating to a “strong sell” rating in a report on Saturday, May 16th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of BridgeBio Oncology Therapeutics in a research report on Thursday. HC Wainwright increased their price objective on shares of BridgeBio Oncology Therapeutics from $27.00 to $29.00 and gave the stock a “buy” rating in a research note on Friday, March 6th. Finally, Canaccord Genuity Group initiated coverage on shares of BridgeBio Oncology Therapeutics in a research note on Monday, May 11th. They set a “buy” rating and a $23.00 price objective on the stock. Five investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, BridgeBio Oncology Therapeutics currently has an average rating of “Moderate Buy” and an average price target of $24.25.

BridgeBio Oncology Therapeutics Stock Up 4.7%

Shares of BBOT stock traded up $0.35 during trading on Monday, hitting $7.92. The company had a trading volume of 29,664 shares, compared to its average volume of 354,424. The company has a market cap of $634.07 million, a price-to-earnings ratio of -3.82 and a beta of 0.29. The stock’s 50-day simple moving average is $8.39. BridgeBio Oncology Therapeutics has a one year low of $7.00 and a one year high of $14.87.

BridgeBio Oncology Therapeutics (NASDAQ:BBOT) last posted its quarterly earnings data on Tuesday, May 12th. The company reported ($526.11) EPS for the quarter. On average, analysts predict that BridgeBio Oncology Therapeutics will post -2.32 EPS for the current year.

Hedge Funds Weigh In On BridgeBio Oncology Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of BBOT. Avidity Partners Management LP bought a new stake in shares of BridgeBio Oncology Therapeutics during the 1st quarter worth $392,000. Granahan Investment Management LLC bought a new position in BridgeBio Oncology Therapeutics in the first quarter valued at about $2,068,000. Renaissance Technologies LLC raised its stake in BridgeBio Oncology Therapeutics by 37.1% during the first quarter. Renaissance Technologies LLC now owns 101,900 shares of the company’s stock worth $912,000 after acquiring an additional 27,600 shares in the last quarter. XTX Topco Ltd raised its stake in BridgeBio Oncology Therapeutics by 22.4% during the fourth quarter. XTX Topco Ltd now owns 28,633 shares of the company’s stock worth $358,000 after acquiring an additional 5,249 shares in the last quarter. Finally, Quadrature Capital Ltd bought a new position in shares of BridgeBio Oncology Therapeutics in the fourth quarter worth about $162,000. Institutional investors own 54.89% of the company’s stock.

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.