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

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

Insider Buying and Selling at BridgeBio Pharma

In related news, CEO Neil Kumar sold 326,932 shares of the business’s stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $36.29, for a total value of $11,864,362.28. Following the sale, the chief executive officer now directly owns 5,371,515 shares in the company, valued at approximately $194,932,279.35. The trade was a 5.74 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Brian C. Stephenson sold 68,000 shares of the company’s stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $36.29, for a total transaction of $2,467,720.00. Following the sale, the chief financial officer now directly owns 93,758 shares in the company, valued at approximately $3,402,477.82. This trade represents a 42.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 9,654,739 shares of company stock valued at $325,937,151. Company insiders own 24.66% of the company’s stock.

Institutional Trading of BridgeBio Pharma

A number of hedge funds have recently made changes to their positions in the stock. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in BridgeBio Pharma during the third quarter valued at about $309,000. Charles Schwab Investment Management Inc. increased its position in shares of BridgeBio Pharma by 8.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,284,802 shares of the company’s stock valued at $32,711,000 after purchasing an additional 95,605 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new position in shares of BridgeBio Pharma during the 3rd quarter valued at about $383,000. Rockefeller Capital Management L.P. raised its holdings in shares of BridgeBio Pharma by 11.7% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 41,259 shares of the company’s stock valued at $1,050,000 after buying an additional 4,317 shares in the last quarter. Finally, Erste Asset Management GmbH bought a new stake in BridgeBio Pharma in the 3rd quarter worth approximately $3,497,000. 99.85% of the stock is owned by institutional investors.

BridgeBio Pharma Trading Down 4.5 %

Shares of NASDAQ BBIO opened at $33.02 on Wednesday. The business has a 50-day moving average of $34.22 and a 200-day moving average of $29.39. The firm has a market capitalization of $6.28 billion, a price-to-earnings ratio of -11.59 and a beta of 1.07. BridgeBio Pharma has a 12 month low of $21.62 and a 12 month high of $39.47.

BridgeBio Pharma (NASDAQ:BBIO) last announced its earnings results on Thursday, February 20th. The company reported ($1.31) earnings per share (EPS) for the quarter, missing the consensus estimate 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, analysts predict that BridgeBio Pharma will post -3.67 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have issued reports on BBIO. Citigroup boosted their target price on shares of BridgeBio Pharma from $45.00 to $49.00 and gave the company a “buy” rating in a report on Friday, February 21st. HC Wainwright reiterated a “buy” rating and set a $49.00 price objective on shares of BridgeBio Pharma in a research note on Thursday, February 13th. JPMorgan Chase & Co. raised their target price on BridgeBio Pharma from $44.00 to $50.00 and gave the stock an “overweight” rating in a research note on Monday, March 24th. Evercore ISI upped their price target on BridgeBio Pharma from $45.00 to $50.00 and gave the company an “outperform” rating in a research report on Monday, December 23rd. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $95.00 price objective on shares of BridgeBio Pharma in a research report on Friday, February 21st. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $52.64.

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.