BridgeBio Oncology Therapeutics (NASDAQ:BBOT) Raised to “Sell” at Wall Street Zen

BridgeBio Oncology Therapeutics (NASDAQ:BBOT) was upgraded by equities researchers at Wall Street Zen from a “strong sell” rating to a “sell” rating in a research note issued to investors on Saturday, Wall Street Zen reports.

BBOT has been the topic of several other research reports. JPMorgan Chase & Co. reduced their price objective on shares of BridgeBio Oncology Therapeutics from $25.00 to $23.00 and set an “overweight” rating on the stock in a research note on Friday, September 11th. Leerink Partners decreased their price objective on BridgeBio Oncology Therapeutics to $27.00 and set an “outperform” rating for the company in a report on Thursday, September 10th. UBS Group lowered BridgeBio Oncology Therapeutics to an “overweight” rating in a research report on Wednesday, July 8th. Wedbush reaffirmed an “outperform” rating and set a $25.00 target price on shares of BridgeBio Oncology Therapeutics in a report on Wednesday, September 9th. Finally, Canaccord Genuity Group cut their target price on BridgeBio Oncology Therapeutics from $23.00 to $20.00 and set a “buy” rating on the stock in a report on Wednesday, September 9th. Nine analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, BridgeBio Oncology Therapeutics has a consensus rating of “Moderate Buy” and a consensus target price of $22.88.

BridgeBio Oncology Therapeutics Price Performance

Shares of NASDAQ BBOT opened at $2.82 on Friday. The company has a 50 day simple moving average of $6.29 and a 200 day simple moving average of $7.67. BridgeBio Oncology Therapeutics has a 1 year low of $2.81 and a 1 year high of $14.87. The firm has a market cap of $226.08 million, a PE ratio of -1.02 and a beta of 0.65.

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

Institutional Investors Weigh In On BridgeBio Oncology Therapeutics

A number of institutional investors have recently modified their holdings of BBOT. Opaleye Management Inc. lifted its holdings in BridgeBio Oncology Therapeutics by 1,213.8% in the second 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 bought a new stake in BridgeBio Oncology Therapeutics during the first quarter valued at $2,068,000. Tidal Investments LLC grew its holdings in BridgeBio Oncology Therapeutics by 13.6% during 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 during the period. Tema ETFs LLC grew its holdings in BridgeBio Oncology Therapeutics by 13.6% during the 2nd quarter. Tema ETFs LLC now owns 93,339 shares of the company’s stock worth $711,000 after acquiring an additional 11,167 shares during the period. Finally, Renaissance Technologies LLC grew its holdings in 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 acquiring an additional 27,600 shares during the period. 54.89% of the stock is owned by institutional investors.

About BridgeBio Oncology Therapeutics

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.