BridgeBio Oncology Therapeutics (NASDAQ:BBOT) Shares Down 5.8% – Time to Sell?

BridgeBio Oncology Therapeutics, Inc (NASDAQ:BBOT) was down 5.8% during mid-day trading on Wednesday . The stock traded as low as $8.83 and last traded at $8.91. Approximately 62,797 shares traded hands during mid-day trading, a decline of 80% from the average daily volume of 315,392 shares. The stock had previously closed at $9.46.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on BBOT shares. HC Wainwright upped their target price on BridgeBio Oncology Therapeutics from $27.00 to $29.00 and gave the company a “buy” rating in a research report on Friday, March 6th. Stifel Nicolaus initiated coverage on BridgeBio Oncology Therapeutics in a research report on Tuesday, February 10th. They set a “buy” rating and a $23.00 price target on the stock. Raymond James Financial raised BridgeBio Oncology Therapeutics to a “moderate buy” rating in a research report on Friday, January 9th. Finally, Weiss Ratings initiated coverage on BridgeBio Oncology Therapeutics in a research report on Wednesday, January 14th. They set a “sell (d+)” rating on the stock. Three investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $26.00.

BridgeBio Oncology Therapeutics Stock Up 1.1%

The firm has a 50 day moving average price of $9.49. The stock has a market capitalization of $717.87 million, a price-to-earnings ratio of -5.90 and a beta of 0.51.

Institutional Investors Weigh In On BridgeBio Oncology Therapeutics

Several hedge funds have recently modified their holdings of the company. State Street Corp lifted its stake in BridgeBio Oncology Therapeutics by 23.5% in the 4th quarter. State Street Corp now owns 218,278 shares of the company’s stock valued at $2,733,000 after buying an additional 41,583 shares in the last quarter. Paradigm Biocapital Advisors LP lifted its stake in BridgeBio Oncology Therapeutics by 21.2% in the 4th 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 in the last quarter. Laurion Capital Management LP lifted its stake in BridgeBio Oncology Therapeutics by 40.1% in the 4th 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 in the last quarter. Geode Capital Management LLC lifted its stake in BridgeBio Oncology Therapeutics by 3.8% in the 4th 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 in the last quarter. Finally, Goldman Sachs Group Inc. purchased a new position in BridgeBio Oncology Therapeutics in the 4th quarter valued at about $1,185,000. 54.89% of the stock is owned by hedge funds and other institutional investors.

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.