BridgeBio Oncology Therapeutics (NASDAQ:BBOT) Stock Price Down 5.4% – Time to Sell?

BridgeBio Oncology Therapeutics, Inc (NASDAQ:BBOT) shares dropped 5.4% on Friday . The company traded as low as $8.64 and last traded at $8.6150. Approximately 69,674 shares changed hands during mid-day trading, a decline of 79% from the average daily volume of 339,335 shares. The stock had previously closed at $9.11.

Analyst Ratings Changes

BBOT has been the topic of a number of research analyst reports. Wall Street Zen cut shares of BridgeBio Oncology Therapeutics from a “sell” rating to a “strong sell” rating in a research note on Saturday, May 16th. HC Wainwright upped their price target on shares of BridgeBio Oncology Therapeutics from $27.00 to $29.00 and gave the company a “buy” rating in a research note on Friday, March 6th. Canaccord Genuity Group began coverage on shares of BridgeBio Oncology Therapeutics in a research note on Monday, May 11th. They set a “buy” rating and a $23.00 price target on the stock. Finally, Stifel Nicolaus began 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 target on the stock. Four investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, BridgeBio Oncology Therapeutics has a consensus rating of “Moderate Buy” and a consensus target price of $25.00.

BridgeBio Oncology Therapeutics Stock Down 6.0%

The firm has a market cap of $685.74 million, a P/E ratio of -4.18 and a beta of 0.22. The firm’s 50 day moving average is $8.80.

BridgeBio Oncology Therapeutics (NASDAQ:BBOT) last posted its earnings results on Tuesday, May 12th. The company reported ($526.11) earnings per share (EPS) for the quarter. As a group, research analysts expect that BridgeBio Oncology Therapeutics, Inc will post -2.18 earnings per share for the current fiscal year.

Hedge Funds Weigh In On BridgeBio Oncology Therapeutics

A number of large investors have recently added to or reduced their stakes in the business. Paradigm Biocapital Advisors LP boosted its position in BridgeBio Oncology Therapeutics by 21.2% during the fourth quarter. Paradigm Biocapital Advisors LP now owns 2,261,749 shares of the company’s stock valued at $28,317,000 after buying an additional 395,608 shares during the period. Laurion Capital Management LP boosted its position in BridgeBio Oncology Therapeutics by 40.1% during the fourth quarter. Laurion Capital Management LP now owns 1,464,938 shares of the company’s stock valued at $18,341,000 after buying an additional 419,138 shares during the period. Armistice Capital LLC boosted its position in BridgeBio Oncology Therapeutics by 142.7% during the fourth quarter. Armistice Capital LLC now owns 1,000,000 shares of the company’s stock valued at $12,520,000 after buying an additional 588,000 shares during the period. Geode Capital Management LLC boosted its position in BridgeBio Oncology Therapeutics by 3.8% during the fourth 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 period. Finally, Catalio Capital Management LP purchased a new stake in BridgeBio Oncology Therapeutics during the fourth quarter valued at about $5,142,000. 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.