Canaccord Genuity Group Upgrades BridgeBio Oncology Therapeutics (NASDAQ:BBOT) to “Strong-Buy”

BridgeBio Oncology Therapeutics (NASDAQ:BBOT) was upgraded by equities researchers at Canaccord Genuity Group to a “strong-buy” rating in a report issued on Monday,Zacks.com reports.

Several other research analysts have also issued reports on BBOT. Stifel Nicolaus assumed coverage on shares of BridgeBio Oncology Therapeutics in a research report on Tuesday, February 10th. They issued a “buy” rating and a $23.00 target price for the company. HC Wainwright upped their target price on shares of BridgeBio Oncology Therapeutics from $27.00 to $29.00 and gave the stock a “buy” rating in a research report on Friday, March 6th. Finally, Weiss Ratings started coverage on shares of BridgeBio Oncology Therapeutics in a research note on Wednesday, January 14th. They issued a “sell (d+)” rating for the company. One investment 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’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $25.00.

BridgeBio Oncology Therapeutics Price Performance

BBOT opened at $7.89 on Monday. BridgeBio Oncology Therapeutics has a one year low of $7.60 and a one year high of $14.87. The firm’s fifty day moving average price is $9.05. The stock has a market cap of $632.09 million, a price-to-earnings ratio of -5.19 and a beta of 0.22.

Hedge Funds Weigh In On BridgeBio Oncology Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Persistent Asset Partners Ltd purchased a new stake in shares of BridgeBio Oncology Therapeutics during the fourth quarter valued at approximately $107,000. The Manufacturers Life Insurance Company purchased a new stake in BridgeBio Oncology Therapeutics during the 4th quarter valued at $670,000. Renaissance Technologies LLC purchased a new stake in BridgeBio Oncology Therapeutics during the 4th quarter valued at $930,000. State Street Corp raised its stake in BridgeBio Oncology Therapeutics by 23.5% during the 4th quarter. State Street Corp now owns 218,278 shares of the company’s stock valued at $2,733,000 after buying an additional 41,583 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in BridgeBio Oncology Therapeutics by 3.8% during the 4th quarter. Geode Capital Management LLC now owns 561,987 shares of the company’s stock valued at $7,039,000 after buying an additional 20,385 shares during the last quarter. Institutional investors 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.