BridgeBio Oncology Therapeutics, Inc $BBOT Shares Bought by Opaleye Management Inc.

Opaleye Management Inc. raised its holdings in BridgeBio Oncology Therapeutics, Inc (NASDAQ:BBOT) by 1,213.8% in the second quarter, HoldingsChannel reports. The institutional investor owned 700,000 shares of the company’s stock after acquiring an additional 646,718 shares during the quarter. Opaleye Management Inc.’s holdings in BridgeBio Oncology Therapeutics were worth $5,334,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Geode Capital Management LLC increased its holdings in shares of 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 acquiring an additional 20,385 shares in the last quarter. Goldman Sachs Group Inc. acquired a new stake in BridgeBio Oncology Therapeutics in the 4th quarter worth approximately $1,185,000. BIT Capital GmbH acquired a new stake in BridgeBio Oncology Therapeutics in the 4th quarter worth approximately $313,000. CIBC Private Wealth Group LLC acquired a new stake in BridgeBio Oncology Therapeutics in the 4th quarter worth approximately $63,000. Finally, Renaissance Technologies LLC purchased a new stake in BridgeBio Oncology Therapeutics during the 4th quarter worth approximately $930,000. Institutional investors and hedge funds own 54.89% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on BBOT. Raymond James Financial cut their price target on shares of BridgeBio Oncology Therapeutics from $24.00 to $22.00 and set an “outperform” rating on the stock in a research note on Wednesday. Stifel Nicolaus dropped their price objective on shares of BridgeBio Oncology Therapeutics from $23.00 to $15.00 and set a “buy” rating on the stock in a report on Wednesday. Canaccord Genuity Group dropped their price objective on shares of BridgeBio Oncology Therapeutics from $23.00 to $20.00 and set a “buy” rating on the stock in a report on Wednesday. JPMorgan Chase & Co. cut their target price on BridgeBio Oncology Therapeutics from $27.00 to $25.00 and set an “overweight” rating on the stock in a research report on Friday, August 14th. Finally, Wall Street Zen upgraded BridgeBio Oncology Therapeutics from a “strong sell” rating to a “sell” rating in a research note on Saturday, July 18th. Nine equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, BridgeBio Oncology Therapeutics has a consensus rating of “Moderate Buy” and a consensus target price of $23.12.

BridgeBio Oncology Therapeutics Stock Down 18.3%

NASDAQ:BBOT opened at $5.52 on Friday. BridgeBio Oncology Therapeutics, Inc has a 52 week low of $5.48 and a 52 week high of $14.87. The stock’s 50-day moving average price is $8.72 and its 200-day moving average price is $8.70. The stock has a market capitalization of $442.54 million, a PE ratio of -2.00 and a beta of 0.38.

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

BridgeBio Oncology Therapeutics Company Profile

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.