BridgeBio Oncology Therapeutics (NASDAQ:BBOT) Trading Up 11.3% – Here’s Why

BridgeBio Oncology Therapeutics, Inc (NASDAQ:BBOT)’s share price rose 11.3% on Wednesday . The company traded as high as $12.17 and last traded at $12.06. Approximately 256,622 shares were traded during trading, a decline of 27% from the average daily volume of 352,425 shares. The stock had previously closed at $10.84.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on BBOT shares. Raymond James Financial raised shares of BridgeBio Oncology Therapeutics to a “moderate buy” rating in a report on Friday, January 9th. Stifel Nicolaus initiated coverage on shares of BridgeBio Oncology Therapeutics in a research note on Tuesday. They issued a “buy” rating and a $23.00 price objective for the company. Finally, Weiss Ratings assumed coverage on shares of BridgeBio Oncology Therapeutics in a research report on Wednesday, January 14th. They set a “sell (d+)” rating on the stock. Two research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $23.00.

BridgeBio Oncology Therapeutics Stock Performance

The firm has a market cap of $963.08 million, a P/E ratio of -11.69 and a beta of 0.12.

Hedge Funds Weigh In On BridgeBio Oncology Therapeutics

A number of large investors have recently bought and sold shares of BBOT. BIT Capital GmbH purchased a new stake in BridgeBio Oncology Therapeutics in the fourth quarter worth $313,000. Goldman Sachs Group Inc. bought a new position in shares of BridgeBio Oncology Therapeutics in the fourth quarter worth about $1,185,000. Finally, Geode Capital Management LLC increased its stake 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 buying an additional 20,385 shares during the period. Hedge funds and other 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.