BridgeBio Oncology Therapeutics, Inc (NASDAQ:BBOT) Stock Has Consensus Target Price of $22.88 According to Analysts

BridgeBio Oncology Therapeutics, Inc (NASDAQ:BBOT) has been given a consensus rating of “Moderate Buy” by the ten analysts that are presently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation and nine have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $22.88.

Several equities analysts have issued reports on BBOT shares. Stifel Nicolaus dropped their price objective on shares of 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. Wedbush restated an “outperform” rating and issued a $25.00 target price on shares of BridgeBio Oncology Therapeutics in a research note on Wednesday, September 9th. Oppenheimer started coverage on shares of BridgeBio Oncology Therapeutics in a report on Monday, June 22nd. They issued an “outperform” rating and a $22.00 target price on the stock. Leerink Partners dropped their price target on shares of BridgeBio Oncology Therapeutics to $27.00 and set an “outperform” rating on the stock in a research note on Thursday, September 10th. Finally, UBS Group cut shares of BridgeBio Oncology Therapeutics to an “overweight” rating in a report on Wednesday, July 8th.

BridgeBio Oncology Therapeutics Stock Down 3.2%

BBOT opened at $3.31 on Thursday. BridgeBio Oncology Therapeutics has a 52 week low of $3.27 and a 52 week high of $14.87. The business has a 50 day moving average price of $6.88 and a two-hundred day moving average price of $7.89. The company has a market cap of $265.36 million, a PE ratio of -1.20 and a beta of 0.65.

BridgeBio Oncology Therapeutics (NASDAQ:BBOT) last announced its earnings results on Tuesday, August 11th. The company reported ($705.20) earnings per share for the quarter. As a group, sell-side analysts expect that BridgeBio Oncology Therapeutics will post -2.79 EPS for the current fiscal year.

Hedge Funds Weigh In On BridgeBio Oncology Therapeutics

Large investors have recently modified their holdings of the business. Avidity Partners Management LP purchased a new stake in shares of BridgeBio Oncology Therapeutics in the first quarter valued at approximately $392,000. Tema ETFs LLC lifted its holdings in BridgeBio Oncology Therapeutics by 13.6% in the second quarter. Tema ETFs LLC now owns 93,339 shares of the company’s stock valued at $711,000 after acquiring an additional 11,167 shares during the period. Tidal Investments LLC lifted 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 valued at $711,000 after acquiring an additional 11,167 shares during the period. Renaissance Technologies LLC boosted its position in shares of BridgeBio Oncology Therapeutics by 37.1% during the 1st quarter. Renaissance Technologies LLC now owns 101,900 shares of the company’s stock worth $912,000 after purchasing an additional 27,600 shares in the last quarter. Finally, Granahan Investment Management LLC acquired a new position in shares of BridgeBio Oncology Therapeutics during the 1st quarter worth $2,068,000. 54.89% of the stock is owned by hedge funds and other institutional investors.

BridgeBio Oncology Therapeutics Company Profile

BridgeBio Oncology Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing precision medicines for genetically defined cancers. The company seeks to address cancer-causing mutations with targeted therapies designed to selectively interfere with disease-driving proteins and pathways.

Its lead program, BBO-8520, is an investigational small-molecule inhibitor targeting KRAS G12C, a mutation found in several solid tumors, including non-small cell lung cancer, colorectal cancer and pancreatic cancer.