BridgeBio Oncology Therapeutics (NASDAQ:BBOT) Trading Down 1.3% – Should You Sell?

Shares of BridgeBio Oncology Therapeutics, Inc (NASDAQ:BBOT) dropped 1.3% on Thursday . The stock traded as low as $8.80 and last traded at $8.91. Approximately 164,855 shares traded hands during mid-day trading, an increase of 2% from the average daily volume of 161,295 shares. The stock had previously closed at $9.03.

Analyst Upgrades and Downgrades

Several brokerages have commented on BBOT. HC Wainwright raised their price objective on BridgeBio Oncology Therapeutics from $27.00 to $29.00 and gave the company a “buy” rating in a research report on Friday, March 6th. Weiss Ratings initiated coverage on shares of BridgeBio Oncology Therapeutics in a research report on Wednesday, January 14th. They issued a “sell (d+)” rating on the stock. Raymond James Financial upgraded shares of BridgeBio Oncology Therapeutics to a “moderate buy” rating in a research note on Friday, January 9th. Finally, Stifel Nicolaus assumed coverage on shares of BridgeBio Oncology Therapeutics in a research note on Tuesday, February 10th. They set a “buy” rating and a $23.00 price objective on the stock. Three research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $26.00.

BridgeBio Oncology Therapeutics Stock Performance

The business’s 50 day simple moving average is $10.34. The company has a market cap of $713.07 million, a price-to-earnings ratio of -5.86 and a beta of 0.51.

Hedge Funds Weigh In On BridgeBio Oncology Therapeutics

Several large investors have recently modified their holdings of BBOT. CIBC Private Wealth Group LLC bought a new position in BridgeBio Oncology Therapeutics in the 4th quarter worth about $63,000. Persistent Asset Partners Ltd bought a new stake in BridgeBio Oncology Therapeutics during the 4th quarter valued at about $107,000. Squarepoint Ops LLC purchased a new position in BridgeBio Oncology Therapeutics in the fourth quarter worth about $144,000. Quadrature Capital Ltd purchased a new position in BridgeBio Oncology Therapeutics in the fourth quarter worth about $162,000. Finally, BIT Capital GmbH bought a new position in shares of BridgeBio Oncology Therapeutics in the fourth quarter worth approximately $313,000. Hedge funds and other 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.