Octagon Capital Advisors LP Sells 324,110 Shares of BridgeBio Oncology Therapeutics, Inc $BBOT

Octagon Capital Advisors LP lowered its holdings in shares of BridgeBio Oncology Therapeutics, Inc (NASDAQ:BBOT) by 31.1% in the 1st quarter, Holdings Channel.com reports. The firm owned 719,000 shares of the company’s stock after selling 324,110 shares during the quarter. BridgeBio Oncology Therapeutics makes up approximately 0.7% of Octagon Capital Advisors LP’s investment portfolio, making the stock its 24th largest position. Octagon Capital Advisors LP’s holdings in BridgeBio Oncology Therapeutics were worth $6,435,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Armistice Capital LLC increased its holdings in BridgeBio Oncology Therapeutics by 142.7% during the fourth quarter. Armistice Capital LLC now owns 1,000,000 shares of the company’s stock valued at $12,520,000 after buying an additional 588,000 shares during the last quarter. Laurion Capital Management LP raised its position in BridgeBio Oncology Therapeutics by 40.1% in the fourth quarter. Laurion Capital Management LP now owns 1,464,938 shares of the company’s stock worth $18,341,000 after acquiring an additional 419,138 shares during the period. Catalio Capital Management LP purchased a new position in shares of BridgeBio Oncology Therapeutics during the 4th quarter worth $5,142,000. Paradigm Biocapital Advisors LP boosted its stake in shares of BridgeBio Oncology Therapeutics by 21.2% during the 4th quarter. Paradigm Biocapital Advisors LP now owns 2,261,749 shares of the company’s stock worth $28,317,000 after acquiring an additional 395,608 shares during the last quarter. Finally, Granahan Investment Management LLC bought a new stake in shares of BridgeBio Oncology Therapeutics during the 1st quarter valued at $2,068,000. 54.89% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

BBOT has been the subject of several analyst reports. Canaccord Genuity Group started coverage on BridgeBio Oncology Therapeutics in a research note on Monday, May 11th. They issued a “buy” rating and a $23.00 price objective for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of BridgeBio Oncology Therapeutics in a research report on Thursday, June 18th. Oppenheimer assumed coverage on BridgeBio Oncology Therapeutics in a report on Monday, June 22nd. They set an “outperform” rating and a $22.00 price target for the company. UBS Group cut BridgeBio Oncology Therapeutics to an “overweight” rating in a research report on Wednesday, July 8th. Finally, JPMorgan Chase & Co. assumed coverage on BridgeBio Oncology Therapeutics in a research note on Wednesday, July 8th. They issued an “overweight” rating and a $27.00 price objective on the stock. Seven equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $24.80.

BridgeBio Oncology Therapeutics Stock Performance

NASDAQ BBOT opened at $8.82 on Monday. The company has a market capitalization of $706.57 million, a price-to-earnings ratio of -4.30 and a beta of 0.39. The stock has a 50-day simple moving average of $8.20. BridgeBio Oncology Therapeutics, Inc has a twelve month low of $7.00 and a twelve month high of $14.87.

BridgeBio Oncology Therapeutics (NASDAQ:BBOT) last released its earnings results on Tuesday, May 12th. The company reported ($526.11) earnings per share (EPS) for the quarter. On average, sell-side analysts forecast that BridgeBio Oncology Therapeutics, Inc will post -2.3 earnings per share for the current fiscal year.

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.