BridgeBio Oncology Therapeutics (NASDAQ:BBOT) Upgraded to Strong-Buy at Canaccord Genuity Group

Canaccord Genuity Group upgraded shares of BridgeBio Oncology Therapeutics (NASDAQ:BBOT) to a strong-buy rating in a report published on Monday,Zacks.com reports.

BBOT has been the topic of a number of other research reports. Stifel Nicolaus began coverage on BridgeBio Oncology Therapeutics in a research note on Tuesday, February 10th. They issued a “buy” rating and a $23.00 price target on the stock. Weiss Ratings initiated coverage on BridgeBio Oncology Therapeutics in a research note on Wednesday, January 14th. They issued a “sell (d+)” rating on the stock. Finally, HC Wainwright raised their price objective on BridgeBio Oncology Therapeutics from $27.00 to $29.00 and gave the stock a “buy” rating in a research note on Friday, March 6th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $25.00.

BridgeBio Oncology Therapeutics Stock Performance

BBOT stock opened at $7.89 on Monday. The company has a fifty day moving average of $9.05. The firm has a market cap of $632.09 million, a P/E ratio of -5.19 and a beta of 0.22. BridgeBio Oncology Therapeutics has a twelve month low of $7.60 and a twelve month high of $14.87.

Institutional Trading of BridgeBio Oncology Therapeutics

Several hedge funds have recently added to or reduced their stakes in BBOT. Armistice Capital LLC raised its stake in BridgeBio Oncology Therapeutics by 142.7% during the 4th quarter. Armistice Capital LLC now owns 1,000,000 shares of the company’s stock worth $12,520,000 after buying an additional 588,000 shares during the period. Laurion Capital Management LP raised its stake in BridgeBio Oncology Therapeutics by 40.1% during the 4th quarter. Laurion Capital Management LP now owns 1,464,938 shares of the company’s stock worth $18,341,000 after buying an additional 419,138 shares during the period. Catalio Capital Management LP acquired a new stake in shares of BridgeBio Oncology Therapeutics in the 4th quarter valued at about $5,142,000. Paradigm Biocapital Advisors LP raised its stake in shares of BridgeBio Oncology Therapeutics by 21.2% in the 4th quarter. Paradigm Biocapital Advisors LP now owns 2,261,749 shares of the company’s stock valued at $28,317,000 after purchasing an additional 395,608 shares during the period. Finally, Goldman Sachs Group Inc. acquired a new stake in shares of BridgeBio Oncology Therapeutics in the 4th quarter valued at about $1,185,000. Institutional investors and hedge funds 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.