BridgeBio Oncology Therapeutics (NASDAQ:BBOT) Stock Price Down 5.4% – Should You Sell?

BridgeBio Oncology Therapeutics, Inc (NASDAQ:BBOT) shares dropped 5.4% during mid-day trading on Friday . The stock traded as low as $8.64 and last traded at $8.6150. Approximately 69,674 shares changed hands during trading, a decline of 79% from the average daily volume of 339,335 shares. The stock had previously closed at $9.11.

Analyst Ratings Changes

BBOT has been the topic of several recent research reports. Wall Street Zen lowered BridgeBio Oncology Therapeutics from a “sell” rating to a “strong sell” rating in a research report on Saturday, May 16th. Canaccord Genuity Group assumed coverage on BridgeBio Oncology Therapeutics in a research report on Monday, May 11th. They set a “buy” rating and a $23.00 price target on the stock. Stifel Nicolaus assumed coverage on BridgeBio Oncology Therapeutics in a research report on Tuesday, February 10th. They issued a “buy” rating and a $23.00 price objective on the stock. Finally, HC Wainwright lifted their price objective on BridgeBio Oncology Therapeutics from $27.00 to $29.00 and gave the stock a “buy” rating in a research report on Friday, March 6th. Four equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $25.00.

BridgeBio Oncology Therapeutics Price Performance

The firm has a market cap of $684.91 million, a PE ratio of -4.17 and a beta of 0.22. The company has a 50-day moving average of $8.77.

BridgeBio Oncology Therapeutics (NASDAQ:BBOT) last issued its quarterly earnings data on Tuesday, May 12th. The company reported ($526.11) earnings per share for the quarter. On average, sell-side analysts forecast that BridgeBio Oncology Therapeutics, Inc will post -2.18 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Paradigm Biocapital Advisors LP grew its stake in shares of BridgeBio Oncology Therapeutics by 21.2% during the fourth 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 grew its stake in shares of BridgeBio Oncology Therapeutics by 40.1% during the fourth quarter. Laurion Capital Management LP now owns 1,464,938 shares of the company’s stock valued at $18,341,000 after buying an additional 419,138 shares during the last quarter. Armistice Capital LLC grew its stake 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 last quarter. Geode Capital Management LLC grew its stake in shares of BridgeBio Oncology Therapeutics by 3.8% during the fourth quarter. Geode Capital Management LLC now owns 561,987 shares of the company’s stock valued at $7,039,000 after buying an additional 20,385 shares during the last quarter. Finally, Catalio Capital Management LP bought a new position in shares of BridgeBio Oncology Therapeutics during the fourth quarter valued at approximately $5,142,000. Hedge funds and other 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.