BridgeBio Oncology Therapeutics, Inc (NASDAQ:BBOT) Stock Rated “Moderate Buy” by Wall Street Brokerages

BridgeBio Oncology Therapeutics, Inc (NASDAQ:BBOT) has earned an average recommendation of “Moderate Buy” from the eleven research firms that are presently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation and ten have assigned a buy recommendation to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $21.11.

A number of analysts have recently commented on BBOT shares. Morgan Stanley cut their price target on BridgeBio Oncology Therapeutics to $13.00 and set an “overweight” rating on the stock in a report on Wednesday, October 21st. Wedbush reaffirmed an “outperform” rating and issued a $25.00 price objective on shares of BridgeBio Oncology Therapeutics 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. cut their price target on shares of BridgeBio Oncology Therapeutics from $25.00 to $23.00 and set an “overweight” rating on the stock in a report on Friday, September 11th. Finally, Wall Street Zen upgraded BridgeBio Oncology Therapeutics from a “strong sell” rating to a “sell” rating in a research note on Saturday, October 17th.

BridgeBio Oncology Therapeutics Price Performance

Shares of BBOT opened at $2.04 on Monday. The company’s 50-day simple moving average is $4.30 and its 200-day simple moving average is $7.93. BridgeBio Oncology Therapeutics has a 1 year low of $1.98 and a 1 year high of $14.87.

BridgeBio Oncology Therapeutics (NASDAQ:BBOT) last announced its quarterly earnings results on Tuesday, August 11th. The company reported ($705.20) EPS for the quarter. As a group, sell-side analysts anticipate that BridgeBio Oncology Therapeutics will post -2.81 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of BBOT. Regents of The University of California bought a new position in BridgeBio Oncology Therapeutics during the third quarter worth about $10,289,000. Opaleye Management Inc. grew its holdings in BridgeBio Oncology Therapeutics by 1,213.8% during the second quarter. Opaleye Management Inc. now owns 700,000 shares of the company’s stock valued at $5,334,000 after purchasing an additional 646,718 shares during the period. Granahan Investment Management LLC bought a new position in shares of BridgeBio Oncology Therapeutics in the first quarter worth approximately $2,068,000. Renaissance Technologies LLC raised its position in BridgeBio Oncology Therapeutics by 37.1% during the 1st quarter. Renaissance Technologies LLC now owns 101,900 shares of the company’s stock valued at $912,000 after purchasing an additional 27,600 shares during the last quarter. Finally, Tidal Investments LLC raised its holdings in BridgeBio Oncology Therapeutics by 13.6% in the second quarter. Tidal Investments LLC now owns 93,339 shares of the company’s stock worth $711,000 after buying an additional 11,167 shares during the last quarter. 54.89% of the stock is currently owned by institutional investors.

About BridgeBio Oncology Therapeutics

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.