BridgeBio Oncology Therapeutics (NASDAQ:BBOT) Price Target Cut to $9.00 by Analysts at Wedbush

BridgeBio Oncology Therapeutics (NASDAQ:BBOT) had its price objective cut by equities research analysts at Wedbush to $9.00 in a report issued on Wednesday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Wedbush‘s target price indicates a potential upside of 293.01% from the stock’s current price.

BBOT has been the subject of several other research reports. Raymond James Financial decreased their price objective on shares of BridgeBio Oncology Therapeutics from $24.00 to $22.00 and set an “outperform” rating for the company in a research note on Wednesday, September 9th. Stifel Nicolaus cut their target price on BridgeBio Oncology Therapeutics from $23.00 to $15.00 and set a “buy” rating on the stock in a research note on Wednesday, September 9th. Weiss Ratings downgraded BridgeBio Oncology Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, October 9th. JPMorgan Chase & Co. decreased their price target on BridgeBio Oncology Therapeutics from $25.00 to $23.00 and set an “overweight” rating for the company in a research note on Friday, September 11th. Finally, Wall Street Zen upgraded BridgeBio Oncology Therapeutics from a “strong sell” rating to a “sell” rating in a report on Saturday, October 17th. Ten investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $19.33.

BridgeBio Oncology Therapeutics Trading Up 4.1%

BBOT stock opened at $2.29 on Wednesday. BridgeBio Oncology Therapeutics has a 12 month low of $1.98 and a 12 month high of $14.87. The company has a 50-day moving average price of $4.04 and a 200 day moving average price of $7.84. The stock has a market cap of $183.59 million, a PE ratio of -0.83 and a beta of 0.86.

BridgeBio Oncology Therapeutics (NASDAQ:BBOT) last issued its quarterly earnings results on Tuesday, November 10th. The company reported ($0.43) EPS for the quarter, beating the consensus estimate of ($0.65) by $0.22. Sell-side analysts forecast that BridgeBio Oncology Therapeutics will post -2.81 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Regents of The University of California bought a new stake in BridgeBio Oncology Therapeutics during the 3rd quarter valued at about $10,289,000. Opaleye Management Inc. boosted its position in BridgeBio Oncology Therapeutics by 1,213.8% in the 2nd quarter. Opaleye Management Inc. now owns 700,000 shares of the company’s stock valued at $5,334,000 after buying an additional 646,718 shares during the period. Granahan Investment Management LLC purchased a new stake in BridgeBio Oncology Therapeutics in the 1st quarter valued at about $2,068,000. Renaissance Technologies LLC grew its stake in BridgeBio Oncology Therapeutics by 37.1% in the 1st 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. Finally, Tidal Investments LLC grew its stake in BridgeBio Oncology Therapeutics by 13.6% in the 2nd quarter. Tidal Investments LLC now owns 93,339 shares of the company’s stock worth $711,000 after acquiring an additional 11,167 shares in the last quarter. Hedge funds and other institutional investors own 54.89% of the company’s stock.

BridgeBio Oncology Therapeutics Company Profile

BridgeBio Oncology Therapeutics, Inc. is a clinical-stage biopharmaceutical company focused on developing precision medicines for patients with genetically driven cancers. The company is part of the broader BridgeBio platform, which supports the development of therapies for diseases linked to well-defined biological targets. Its oncology programs are centered on small-molecule therapies intended to address cancer-causing genetic alterations, including targets that have historically been difficult to treat.