BridgeBio Pharma Sees Unusually Large Options Volume (NASDAQ:BBIO)

BridgeBio Pharma, Inc. (NASDAQ:BBIO) was the recipient of unusually large options trading on Monday. Traders acquired 8,235 call options on the stock. This is an increase of 88% compared to the typical volume of 4,371 call options.

Analyst Ratings Changes

A number of brokerages recently commented on BBIO. HC Wainwright reaffirmed a “buy” rating and issued a $49.00 target price on shares of BridgeBio Pharma in a research report on Thursday, February 13th. Citigroup boosted their price objective on BridgeBio Pharma from $45.00 to $49.00 and gave the company a “buy” rating in a report on Friday, February 21st. Scotiabank increased their target price on BridgeBio Pharma from $49.00 to $52.00 and gave the stock a “sector outperform” rating in a report on Friday, February 21st. Redburn Atlantic started coverage on shares of BridgeBio Pharma in a research report on Monday. They issued a “buy” rating and a $50.00 price target for the company. Finally, Evercore ISI upped their price objective on shares of BridgeBio Pharma from $45.00 to $50.00 and gave the stock an “outperform” rating in a report on Monday, December 23rd. One equities research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $52.64.

BridgeBio Pharma Price Performance

NASDAQ BBIO opened at $33.02 on Wednesday. The company has a fifty day moving average price of $34.22 and a 200-day moving average price of $29.39. The firm has a market cap of $6.28 billion, a price-to-earnings ratio of -11.59 and a beta of 1.07. BridgeBio Pharma has a 1 year low of $21.62 and a 1 year high of $39.47.

BridgeBio Pharma (NASDAQ:BBIO) last issued its quarterly earnings data on Thursday, February 20th. The company reported ($1.31) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.09) by ($0.22). The business had revenue of $5.88 million for the quarter, compared to analyst estimates of $4.04 million. On average, research analysts anticipate that BridgeBio Pharma will post -3.67 EPS for the current fiscal year.

Insider Activity

In other news, CEO Neil Kumar sold 326,932 shares of BridgeBio Pharma stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $36.29, for a total value of $11,864,362.28. Following the completion of the sale, the chief executive officer now owns 5,371,515 shares in the company, valued at $194,932,279.35. The trade was a 5.74 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Global Investors Lp Viking sold 3,065,616 shares of the business’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $34.90, for a total transaction of $106,989,998.40. Following the transaction, the insider now owns 22,055,375 shares in the company, valued at $769,732,587.50. The trade was a 12.20 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 9,654,739 shares of company stock valued at $325,937,151 in the last ninety days. 24.66% of the stock is owned by company insiders.

Institutional Trading of BridgeBio Pharma

A number of institutional investors and hedge funds have recently modified their holdings of BBIO. California State Teachers Retirement System grew its stake in BridgeBio Pharma by 6.8% in the 4th quarter. California State Teachers Retirement System now owns 115,655 shares of the company’s stock valued at $3,174,000 after purchasing an additional 7,388 shares during the period. Jefferies Financial Group Inc. purchased a new position in shares of BridgeBio Pharma in the 4th quarter worth about $5,076,000. Mackenzie Financial Corp grew its position in BridgeBio Pharma by 6.6% during the fourth quarter. Mackenzie Financial Corp now owns 9,505 shares of the company’s stock valued at $261,000 after buying an additional 592 shares during the period. GF Fund Management CO. LTD. purchased a new stake in BridgeBio Pharma during the fourth quarter worth about $109,000. Finally, Frazier Life Sciences Management L.P. increased its holdings in BridgeBio Pharma by 1.1% during the fourth quarter. Frazier Life Sciences Management L.P. now owns 3,800,457 shares of the company’s stock worth $104,285,000 after buying an additional 40,000 shares during the last quarter. 99.85% of the stock is owned by hedge funds and other institutional investors.

BridgeBio Pharma Company Profile

BridgeBio Pharma, Inc, a commercial-stage biopharmaceutical company, discovers, creates, tests, and delivers transformative medicines to treat patients who suffer from genetic diseases and cancers. Its products in development programs include AG10, a next-generation oral small molecule near-complete TTR stabilizer that is in Phase 3 clinical trial for the treatment of TTR amyloidosis, or transthyretin amyloid cardiomyopathy (ATTR-CM); low-dose infigratinib, an oral FGFR1-3 selective tyrosine kinase inhibitor, which is in Phase 3 double-blinded, placebo-controlled pivotal study for the treatment option for children with achondroplasia; and BBP-631, an AAV5 gene transfer product candidate that is in Phase 1/2 clinical trial for the treatment of congenital adrenal hyperplasia, or CAH, driven by 21-hydroxylase deficiency, or 21OHD.