BridgeBio Oncology Therapeutics (NASDAQ:BBOT) Stock Price Down 7.9% – Here’s What Happened

BridgeBio Oncology Therapeutics, Inc (NASDAQ:BBOT) was down 7.9% during mid-day trading on Friday . The company traded as low as $8.45 and last traded at $8.3720. 95,326 shares traded hands during trading, a decline of 74% from the average daily volume of 371,229 shares. The stock had previously closed at $9.09.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Oppenheimer assumed coverage on BridgeBio Oncology Therapeutics in a report on Monday, June 22nd. They issued an “outperform” rating and a $22.00 price target for the company. JPMorgan Chase & Co. started coverage on BridgeBio Oncology Therapeutics in a research report on Wednesday. They issued an “overweight” rating and a $27.00 price objective for the company. Wall Street Zen lowered BridgeBio Oncology Therapeutics from a “sell” rating to a “strong sell” rating in a research note on Saturday, May 16th. Canaccord Genuity Group began coverage on BridgeBio Oncology Therapeutics in a research report on Monday, May 11th. They set a “buy” rating and a $23.00 target price on the stock. Finally, UBS Group downgraded BridgeBio Oncology Therapeutics to an “overweight” rating in a research report on Wednesday. Seven equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $24.80.

BridgeBio Oncology Therapeutics Trading Down 8.5%

The company has a market cap of $666.52 million, a P/E ratio of -4.06 and a beta of 0.39. The company’s fifty day simple moving average is $8.11.

BridgeBio Oncology Therapeutics (NASDAQ:BBOT) last released its quarterly earnings data on Tuesday, May 12th. The company reported ($526.11) EPS for the quarter. Equities analysts predict that BridgeBio Oncology Therapeutics, Inc will post -2.3 EPS for the current fiscal year.

Institutional Investors Weigh In On BridgeBio Oncology Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in BBOT. Tema ETFs LLC lifted its stake in shares of BridgeBio Oncology Therapeutics by 13.6% in the 2nd quarter. Tema ETFs LLC now owns 93,339 shares of the company’s stock valued at $711,000 after purchasing an additional 11,167 shares in the last quarter. Avidity Partners Management LP acquired a new stake in BridgeBio Oncology Therapeutics during the 1st quarter worth approximately $392,000. Granahan Investment Management LLC purchased a new position in BridgeBio Oncology Therapeutics in the first quarter valued at approximately $2,068,000. Renaissance Technologies LLC raised its holdings in BridgeBio Oncology Therapeutics by 37.1% in the first quarter. Renaissance Technologies LLC now owns 101,900 shares of the company’s stock valued at $912,000 after buying an additional 27,600 shares during the period. Finally, XTX Topco Ltd lifted its position in BridgeBio Oncology Therapeutics by 22.4% during the fourth quarter. XTX Topco Ltd now owns 28,633 shares of the company’s stock valued at $358,000 after buying an additional 5,249 shares in the last quarter. 54.89% of the stock is currently owned by institutional investors and hedge funds.

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.