BridgeBio Pharma, Inc. (NASDAQ:BBIO) Short Interest Up 5.4% in May

BridgeBio Pharma, Inc. (NASDAQ:BBIO) saw a significant increase in short interest during the month of May. As of May 31st, there was short interest totalling 16,630,000 shares, an increase of 5.4% from the May 15th total of 15,780,000 shares. Currently, 11.9% of the shares of the company are short sold. Based on an average daily trading volume, of 1,600,000 shares, the days-to-cover ratio is currently 10.4 days.

Insider Buying and Selling at BridgeBio Pharma

In other news, Director Randal W. Scott sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $28.84, for a total value of $28,840.00. Following the transaction, the director now owns 5,500 shares of the company’s stock, valued at $158,620. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 24.66% of the stock is owned by company insiders.

Institutional Trading of BridgeBio Pharma

A number of hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of BridgeBio Pharma by 3.3% during the first quarter. Vanguard Group Inc. now owns 13,222,126 shares of the company’s stock valued at $408,828,000 after purchasing an additional 421,832 shares during the period. Janus Henderson Group PLC raised its stake in shares of BridgeBio Pharma by 189.7% during the first quarter. Janus Henderson Group PLC now owns 3,312,706 shares of the company’s stock valued at $102,402,000 after purchasing an additional 2,169,143 shares during the period. Capital Research Global Investors raised its stake in shares of BridgeBio Pharma by 101.1% during the first quarter. Capital Research Global Investors now owns 2,212,085 shares of the company’s stock valued at $68,398,000 after purchasing an additional 1,111,975 shares during the period. Wellington Management Group LLP raised its stake in shares of BridgeBio Pharma by 5.3% during the fourth quarter. Wellington Management Group LLP now owns 1,495,114 shares of the company’s stock valued at $60,358,000 after purchasing an additional 75,564 shares during the period. Finally, Norges Bank purchased a new stake in shares of BridgeBio Pharma during the fourth quarter valued at approximately $46,843,000. Hedge funds and other institutional investors own 99.85% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. UBS Group dropped their target price on BridgeBio Pharma from $51.00 to $47.00 and set a “buy” rating on the stock in a report on Tuesday, May 28th. Mizuho cut their price target on shares of BridgeBio Pharma from $60.00 to $53.00 and set a “buy” rating for the company in a report on Tuesday, March 5th. HC Wainwright reiterated a “buy” rating and issued a $43.00 price target on shares of BridgeBio Pharma in a report on Wednesday, June 5th. Raymond James started coverage on shares of BridgeBio Pharma in a report on Thursday, March 21st. They issued an “outperform” rating and a $45.00 price target for the company. Finally, Evercore ISI assumed coverage on shares of BridgeBio Pharma in a report on Tuesday, May 14th. They issued an “outperform” rating and a $50.00 price target for the company. Two analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $47.62.

BridgeBio Pharma Price Performance

Shares of BridgeBio Pharma stock traded up $0.11 during mid-day trading on Tuesday, hitting $27.34. 669,995 shares of the stock were exchanged, compared to its average volume of 1,688,744. BridgeBio Pharma has a twelve month low of $14.78 and a twelve month high of $44.32. The company has a 50-day simple moving average of $27.51 and a 200 day simple moving average of $32.01.

BridgeBio Pharma (NASDAQ:BBIO) last released its earnings results on Thursday, May 2nd. The company reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.40) by $0.35. The company had revenue of $211.12 million during the quarter, compared to analyst estimates of $140.06 million. Equities analysts predict that BridgeBio Pharma will post -3.2 earnings per share for the current year.

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.