BridgeBio Oncology Therapeutics (NASDAQ:BBOT) Cut to Strong Sell at Wall Street Zen

Wall Street Zen lowered shares of BridgeBio Oncology Therapeutics (NASDAQ:BBOT) from a sell rating to a strong sell rating in a research note published on Saturday morning,Wall Street Zen reports.

Several other brokerages also recently commented on BBOT. Canaccord Genuity Group lowered their price objective on shares of BridgeBio Oncology Therapeutics from $23.00 to $20.00 and set a “buy” rating for the company in a research report on Wednesday, September 9th. UBS Group lowered BridgeBio Oncology Therapeutics to an “overweight” rating in a research note on Wednesday, July 8th. Wedbush reissued an “outperform” rating and set a $25.00 price target on shares of BridgeBio Oncology Therapeutics in a report on Wednesday, September 9th. JPMorgan Chase & Co. lowered their price target on BridgeBio Oncology Therapeutics from $25.00 to $23.00 and set an “overweight” rating for the company in a report on Friday. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of BridgeBio Oncology Therapeutics in a research report on Thursday, June 18th. Nine analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.88.

BridgeBio Oncology Therapeutics Stock Up 2.0%

BBOT stock opened at $5.05 on Friday. BridgeBio Oncology Therapeutics has a 12 month low of $4.85 and a 12 month high of $14.87. The firm has a market cap of $404.86 million, a P/E ratio of -1.83 and a beta of 0.38. The company’s 50-day moving average price is $8.59 and its two-hundred day moving average price is $8.63.

BridgeBio Oncology Therapeutics (NASDAQ:BBOT) last issued its quarterly earnings results on Tuesday, August 11th. The company reported ($705.20) earnings per share for the quarter. Equities analysts predict that BridgeBio Oncology Therapeutics will post -2.79 EPS for the current year.

Institutional Trading of BridgeBio Oncology Therapeutics

Hedge funds have recently added to or reduced their stakes in the stock. BIT Capital GmbH bought a new stake in shares of BridgeBio Oncology Therapeutics during the fourth quarter worth $313,000. Avidity Partners Management LP bought a new position in shares of BridgeBio Oncology Therapeutics in the 1st quarter valued at $392,000. Tidal Investments LLC lifted its stake in shares of BridgeBio Oncology Therapeutics by 13.6% in the 2nd 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 last quarter. Tema ETFs LLC boosted its holdings in shares of BridgeBio Oncology Therapeutics by 13.6% during the 2nd 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 in the last quarter. Finally, Renaissance Technologies LLC boosted its holdings 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 valued at $912,000 after acquiring an additional 27,600 shares in the last quarter. Institutional investors and hedge funds own 54.89% of the company’s stock.

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-driving alterations that may be underserved by existing treatments, using targeted therapies designed to match the molecular characteristics of individual tumors.

Its pipeline includes BBO-8520, an investigational KRAS G12C inhibitor designed to target both active and inactive forms of the KRAS G12C protein.