BridgeBio Oncology Therapeutics (NASDAQ:BBOT) Shares Gap Up – Time to Buy?

BridgeBio Oncology Therapeutics, Inc (NASDAQ:BBOT)’s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $8.29, but opened at $8.93. BridgeBio Oncology Therapeutics shares last traded at $9.06, with a volume of 119,619 shares trading hands.

Analyst Ratings Changes

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

BridgeBio Oncology Therapeutics Price Performance

The stock’s 50-day moving average is $8.11. The stock has a market capitalization of $728.20 million, a price-to-earnings ratio of -4.43 and a beta of 0.39.

BridgeBio Oncology Therapeutics (NASDAQ:BBOT) last announced its earnings results on Tuesday, May 12th. The company reported ($526.11) earnings per share (EPS) for the quarter. As a group, equities analysts forecast that BridgeBio Oncology Therapeutics, Inc will post -2.33 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BBOT. CIBC Private Wealth Group LLC bought a new stake in BridgeBio Oncology Therapeutics in the fourth quarter worth $63,000. Persistent Asset Partners Ltd purchased a new stake in shares of BridgeBio Oncology Therapeutics in the fourth quarter worth $107,000. Squarepoint Ops LLC bought a new position in shares of BridgeBio Oncology Therapeutics during the fourth quarter valued at $144,000. Quadrature Capital Ltd bought a new position in shares of BridgeBio Oncology Therapeutics during the fourth quarter valued at $162,000. Finally, BIT Capital GmbH purchased a new position in shares of BridgeBio Oncology Therapeutics in the 4th quarter worth about $313,000. 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.