BridgeBio Oncology Therapeutics, Inc (NASDAQ:BBOT) Short Interest Update

by · The Cerbat Gem

BridgeBio Oncology Therapeutics, Inc (NASDAQ:BBOT – Get Free Report) was the target of a significant decrease in short interest during the month of September. As of September 15th, there was short interest totaling 3,595,979 shares, a decrease of 41.9% from the August 31st total of 6,193,538 shares. Based on an average trading volume of 824,822 shares, the short-interest ratio is currently 4.4 days. Currently, 5.9% of the company’s shares are sold short.

Institutional Investors Weigh In On BridgeBio Oncology Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the stock. BIT Capital GmbH acquired a new position in shares of BridgeBio Oncology Therapeutics during the fourth quarter valued at about $313,000. Avidity Partners Management LP bought a new stake in BridgeBio Oncology Therapeutics in the 1st quarter valued at about $392,000. Tidal Investments LLC raised its stake in BridgeBio Oncology Therapeutics by 13.6% during the 2nd quarter. Tidal Investments LLC now owns 93,339 shares of the company’s stock worth $711,000 after buying an additional 11,167 shares during the period. Tema ETFs LLC boosted its holdings in 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 in the last quarter. Finally, Renaissance Technologies LLC grew its stake in BridgeBio Oncology Therapeutics by 37.1% in the first quarter. Renaissance Technologies LLC now owns 101,900 shares of the company’s stock valued at $912,000 after acquiring an additional 27,600 shares during the period. 54.89% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have issued reports on BBOT shares. JPMorgan Chase & Co. lowered their price target on shares of BridgeBio Oncology Therapeutics from $25.00 to $23.00 and set an “overweight” rating for the company in a report on Friday, September 11th. Raymond James Financial reduced their price objective 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, September 9th. Oppenheimer started coverage on shares of BridgeBio Oncology Therapeutics in a research note on Monday, June 22nd. They issued an “outperform” rating and a $22.00 price objective on the stock. Stifel Nicolaus decreased their price objective on shares of BridgeBio Oncology Therapeutics from $23.00 to $15.00 and set a “buy” rating for the company in a research report on Wednesday, September 9th. Finally, UBS Group downgraded shares of BridgeBio Oncology Therapeutics to an “overweight” rating in a research note on Wednesday, July 8th. Nine equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.88.

View Our Latest Analysis on BridgeBio Oncology Therapeutics

BridgeBio Oncology Therapeutics Trading Up 4.6%

NASDAQ BBOT traded up $0.18 during trading hours on Wednesday, hitting $4.10. 736,320 shares of the company’s stock were exchanged, compared to its average volume of 397,456. The firm has a market cap of $328.71 million, a price-to-earnings ratio of -1.49 and a beta of 0.38. The stock has a 50-day simple moving average of $7.67 and a 200 day simple moving average of $8.18. BridgeBio Oncology Therapeutics has a 1-year low of $3.79 and a 1-year high of $14.87.

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

BridgeBio Oncology Therapeutics Company Profile

(Get Free Report)

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-driving alterations that may be underserved by existing treatments, using targeted therapies designed to match the molecular characteristics of individual tumors.

Its pipeline includes BBO-8520, an investigational KRAS G12C inhibitor designed to target both active and inactive forms of the KRAS G12C protein.

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