BridgeBio Pharma, Inc. (NASDAQ:BBIO) Short Interest Down 7.9% in January

BridgeBio Pharma, Inc. (NASDAQ:BBIO) was the recipient of a large decline in short interest during the month of January. As of January 31st, there was short interest totalling 18,780,000 shares, a decline of 7.9% from the January 15th total of 20,380,000 shares. Approximately 12.7% of the shares of the company are sold short. Based on an average daily volume of 2,470,000 shares, the days-to-cover ratio is currently 7.6 days.

Insider Buying and Selling

In other news, CEO Neil Kumar sold 326,932 shares of the firm’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 of the company’s stock, valued at approximately $194,932,279.35. This trade represents a 5.74 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Global Investors Lp Viking sold 3,065,616 shares of the business’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $34.90, for a total value of $106,989,998.40. Following the transaction, the insider now directly owns 22,055,375 shares of the company’s stock, valued at $769,732,587.50. This represents a 12.20 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 3,460,548 shares of company stock worth $121,322,081. 24.66% of the stock is currently owned by insiders.

Institutional Trading of BridgeBio Pharma

A number of large investors have recently bought and sold shares of the stock. Steward Partners Investment Advisory LLC boosted its stake in shares of BridgeBio Pharma by 85.8% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,022 shares of the company’s stock valued at $28,000 after purchasing an additional 472 shares in the last quarter. Itau Unibanco Holding S.A. bought a new position in BridgeBio Pharma during the 4th quarter valued at about $41,000. Sterling Capital Management LLC lifted its holdings in BridgeBio Pharma by 554.6% during the 4th quarter. Sterling Capital Management LLC now owns 1,787 shares of the company’s stock valued at $49,000 after purchasing an additional 1,514 shares during the last quarter. Values First Advisors Inc. acquired a new position in BridgeBio Pharma in the third quarter valued at about $57,000. Finally, CWM LLC grew its stake in BridgeBio Pharma by 132.9% during the third quarter. CWM LLC now owns 3,442 shares of the company’s stock worth $88,000 after buying an additional 1,964 shares during the last quarter. 99.85% of the stock is currently owned by institutional investors.

BridgeBio Pharma Trading Up 1.7 %

BBIO stock opened at $35.49 on Wednesday. BridgeBio Pharma has a 1-year low of $21.62 and a 1-year high of $37.81. The business’s 50 day moving average is $31.38 and its 200-day moving average is $27.73. The firm has a market cap of $6.71 billion, a P/E ratio of -14.73 and a beta of 1.07.

Analyst Ratings Changes

Several research firms have recently weighed in on BBIO. Evercore ISI increased their price objective on BridgeBio Pharma from $45.00 to $50.00 and gave the company an “outperform” rating in a research report on Monday, December 23rd. Scotiabank increased their price target on shares of BridgeBio Pharma from $48.00 to $49.00 and gave the company a “sector outperform” rating in a report on Wednesday, February 12th. Bank of America boosted their price objective on shares of BridgeBio Pharma from $42.00 to $45.00 and gave the stock a “buy” rating in a report on Monday, November 25th. Finally, HC Wainwright reiterated a “buy” rating and issued a $49.00 target price on shares of BridgeBio Pharma in a research note on Thursday, February 13th. One investment analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $49.08.

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.