BridgeBio Pharma Target of Unusually Large Options Trading (NASDAQ:BBIO)

BridgeBio Pharma, Inc. (NASDAQ:BBIO) saw some unusual options trading on Tuesday. Investors bought 14,691 call options on the stock. This represents an increase of approximately 454% compared to the typical daily volume of 2,654 call options.

BridgeBio Pharma Price Performance

Shares of BridgeBio Pharma stock traded down $1.32 during trading hours on Tuesday, reaching $24.08. The company had a trading volume of 1,875,276 shares, compared to its average volume of 1,873,597. BridgeBio Pharma has a one year low of $21.62 and a one year high of $44.32. The business has a fifty day simple moving average of $26.45 and a 200 day simple moving average of $27.13. The firm has a market cap of $4.51 billion, a PE ratio of -7.46 and a beta of 1.07.

BridgeBio Pharma (NASDAQ:BBIO) last posted its quarterly earnings results on Thursday, August 1st. The company reported ($0.39) EPS for the quarter, topping analysts’ consensus estimates of ($1.00) by $0.61. The company had revenue of $2.17 million during the quarter, compared to the consensus estimate of $3.96 million. During the same period in the previous year, the business earned ($0.98) earnings per share. BridgeBio Pharma’s revenue was up 32.1% on a year-over-year basis. On average, research analysts forecast that BridgeBio Pharma will post -2.49 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on BBIO. Piper Sandler began coverage on BridgeBio Pharma in a research note on Wednesday, September 4th. They issued an “overweight” rating and a $46.00 price objective for the company. Bank of America reissued a “buy” rating and issued a $42.00 price objective on shares of BridgeBio Pharma in a research note on Wednesday, September 11th. Evercore ISI lowered their price objective on BridgeBio Pharma from $50.00 to $45.00 and set an “outperform” rating for the company in a research note on Wednesday, August 7th. Cantor Fitzgerald reissued an “overweight” rating and issued a $70.00 price objective on shares of BridgeBio Pharma in a research note on Monday, September 16th. Finally, UBS Group lowered their price objective on BridgeBio Pharma from $51.00 to $47.00 and set a “buy” rating for the company in a research note on Tuesday, May 28th. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, BridgeBio Pharma has a consensus rating of “Moderate Buy” and an average target price of $47.92.

Insider Activity at BridgeBio Pharma

In related news, CEO Neil Kumar sold 27,389 shares of the company’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $24.69, for a total transaction of $676,234.41. Following the sale, the chief executive officer now owns 4,897,443 shares in the company, valued at approximately $120,917,867.67. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CEO Neil Kumar sold 27,389 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $24.69, for a total transaction of $676,234.41. Following the transaction, the chief executive officer now directly owns 4,897,443 shares of the company’s stock, valued at approximately $120,917,867.67. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Brian C. Stephenson sold 4,155 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $24.69, for a total value of $102,586.95. Following the transaction, the chief financial officer now directly owns 85,192 shares in the company, valued at $2,103,390.48. The disclosure for this sale can be found here. Insiders have sold a total of 5,831,544 shares of company stock worth $150,128,821 in the last 90 days. Corporate insiders own 24.66% of the company’s stock.

Hedge Funds Weigh In On BridgeBio Pharma

A number of large investors have recently made changes to their positions in BBIO. Bfsg LLC raised its position in shares of BridgeBio Pharma by 175.6% in the second quarter. Bfsg LLC now owns 1,240 shares of the company’s stock worth $31,000 after buying an additional 790 shares in the last quarter. YHB Investment Advisors Inc. purchased a new stake in shares of BridgeBio Pharma in the first quarter worth $34,000. Headlands Technologies LLC purchased a new stake in shares of BridgeBio Pharma in the second quarter worth $48,000. Quarry LP purchased a new stake in shares of BridgeBio Pharma in the fourth quarter worth $50,000. Finally, EntryPoint Capital LLC purchased a new stake in shares of BridgeBio Pharma in the first quarter worth $117,000. 99.85% of the stock is owned by institutional investors.

About BridgeBio Pharma

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.