BridgeBio Oncology Therapeutics (NASDAQ:BBOT) Shares Up 11.3% – Still a Buy?

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

Analyst Ratings Changes

BBOT has been the topic of several research analyst reports. Raymond James Financial raised BridgeBio Oncology Therapeutics to a “moderate buy” rating in a report on Friday, January 9th. Stifel Nicolaus assumed coverage on BridgeBio Oncology Therapeutics in a research report on Tuesday. They set a “buy” rating and a $23.00 price objective for the company. Finally, Weiss Ratings began coverage on BridgeBio Oncology Therapeutics in a report on Wednesday, January 14th. They issued a “sell (d+)” rating on the stock. Two analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, BridgeBio Oncology Therapeutics presently has a consensus rating of “Hold” and a consensus price target of $23.00.

BridgeBio Oncology Therapeutics Price Performance

The stock has a market capitalization 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

Several large investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its stake in shares of 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. BIT Capital GmbH bought a new position in BridgeBio Oncology Therapeutics in the 4th quarter worth approximately $313,000. Finally, Goldman Sachs Group Inc. bought a new stake in shares of BridgeBio Oncology Therapeutics during the fourth quarter valued at approximately $1,185,000. 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.