BridgeBio Oncology Therapeutics (NASDAQ:BBOT) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of BridgeBio Oncology Therapeutics (NASDAQ:BBOT) from a strong sell rating to a sell rating in a research report sent to investors on Saturday morning,Wall Street Zen reports.

BBOT has been the subject of several other reports. Wedbush reaffirmed an “outperform” rating and issued a $25.00 price objective on shares of BridgeBio Oncology Therapeutics in a report on Wednesday, September 9th. UBS Group lowered BridgeBio Oncology Therapeutics to an “overweight” rating in a report on Wednesday, July 8th. Leerink Partners decreased their price target on BridgeBio Oncology Therapeutics to $27.00 and set an “outperform” rating on the stock in a research report on Thursday, September 10th. Oppenheimer initiated coverage on BridgeBio Oncology Therapeutics in a research note on Monday, June 22nd. They issued an “outperform” rating and a $22.00 price target for the company. Finally, Canaccord Genuity Group dropped their price target on BridgeBio Oncology Therapeutics from $23.00 to $20.00 and set a “buy” rating for the company in a research note on Wednesday, September 9th. Nine analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $22.88.

BridgeBio Oncology Therapeutics Trading Up 1.1%

NASDAQ BBOT opened at $2.85 on Friday. The company has a 50 day moving average of $6.16 and a 200-day moving average of $7.63. BridgeBio Oncology Therapeutics has a 1-year low of $2.79 and a 1-year high of $14.87.

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

Institutional Trading of BridgeBio Oncology Therapeutics

Several large investors have recently made changes to their positions in the company. Tema ETFs LLC lifted its holdings in shares of BridgeBio Oncology Therapeutics by 13.6% in the second quarter. Tema ETFs LLC now owns 93,339 shares of the company’s stock worth $711,000 after acquiring an additional 11,167 shares during the last quarter. Tidal Investments LLC boosted 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 purchasing an additional 11,167 shares in the last quarter. Renaissance Technologies LLC boosted its stake in shares of 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 purchasing an additional 27,600 shares in the last quarter. Avidity Partners Management LP acquired a new stake in shares of BridgeBio Oncology Therapeutics in the 1st quarter valued at approximately $392,000. Finally, Granahan Investment Management LLC bought a new stake in shares of BridgeBio Oncology Therapeutics during the 1st quarter valued at approximately $2,068,000. Institutional investors and hedge funds own 54.89% of the company’s stock.

About BridgeBio Oncology Therapeutics

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-causing mutations with targeted therapies designed to selectively interfere with disease-driving proteins and pathways.

Its lead program, BBO-8520, is an investigational small-molecule inhibitor targeting KRAS G12C, a mutation found in several solid tumors, including non-small cell lung cancer, colorectal cancer and pancreatic cancer.