BridgeBio Oncology Therapeutics (NASDAQ:BBOT – Free Report) had its price target cut by Wedbush to $9.00 in a research note released on Wednesday,Benzinga reports. They currently have an outperform rating on the stock.
Several other equities research analysts have also recently issued reports on BBOT. Morgan Stanley lowered their price objective on BridgeBio Oncology Therapeutics to $13.00 and set an “overweight” rating on the stock in a report on Wednesday, October 21st. Wall Street Zen upgraded BridgeBio Oncology Therapeutics from a “strong sell” rating to a “sell” rating in a research note on Saturday, October 17th. JPMorgan Chase & Co. reduced their target price on BridgeBio Oncology Therapeutics from $25.00 to $23.00 and set an “overweight” rating for the company in a report on Friday, September 11th. Weiss Ratings downgraded BridgeBio Oncology Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, October 9th. Finally, Leerink Partners lowered their price target on BridgeBio Oncology Therapeutics to $27.00 and set an “outperform” rating on the stock in a research note on Thursday, September 10th. Ten research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, BridgeBio Oncology Therapeutics has a consensus rating of “Moderate Buy” and a consensus price target of $19.33.
View Our Latest Analysis on BBOT
BridgeBio Oncology Therapeutics Stock Up 16.4%
BBOT opened at $2.56 on Wednesday. The company has a market cap of $205.25 million, a price-to-earnings ratio of -1.19 and a beta of 0.86. BridgeBio Oncology Therapeutics has a 52-week low of $1.98 and a 52-week high of $14.87. The firm’s fifty day simple moving average is $3.92 and its two-hundred day simple moving average is $7.79.
BridgeBio Oncology Therapeutics (NASDAQ:BBOT – Get Free Report) last announced its earnings results on Tuesday, November 10th. The company reported ($0.43) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.65) by $0.22. On average, research analysts forecast that BridgeBio Oncology Therapeutics will post -2.81 EPS for the current year.
Hedge Funds Weigh In On BridgeBio Oncology Therapeutics
Hedge funds and other institutional investors have recently modified their holdings of the business. Regents of The University of California acquired a new position in BridgeBio Oncology Therapeutics during the third quarter worth about $10,289,000. Opaleye Management Inc. raised its holdings in BridgeBio Oncology Therapeutics by 1,213.8% in the 2nd quarter. Opaleye Management Inc. now owns 700,000 shares of the company’s stock valued at $5,334,000 after acquiring an additional 646,718 shares during the last quarter. Granahan Investment Management LLC acquired a new stake in BridgeBio Oncology Therapeutics in the 1st quarter valued at about $2,068,000. Renaissance Technologies LLC raised its holdings in BridgeBio Oncology Therapeutics by 37.1% in 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 during the last quarter. Finally, Tidal Investments LLC lifted its stake in BridgeBio Oncology Therapeutics by 13.6% in the 2nd quarter. Tidal Investments LLC now owns 93,339 shares of the company’s stock worth $711,000 after purchasing an additional 11,167 shares in the last quarter. 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 targeted treatments for cancers driven by RAS and related signaling pathways. The company’s research centers on disrupting molecular signals that help cancer cells grow and survive. Its development programs include drug candidates designed to target KRAS mutations and interactions between RAS and other cancer-related proteins. These investigational medicines are being studied for potential use in solid tumors; they are not approved treatments.
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