BridgeBio Pharma (NASDAQ:BBIO) Trading 4.8% Higher

BridgeBio Pharma, Inc. (NASDAQ:BBIO) shot up 4.8% during trading on Wednesday . The stock traded as high as $30.23 and last traded at $30.12. 1,648,112 shares were traded during mid-day trading, a decline of 9% from the average session volume of 1,817,172 shares. The stock had previously closed at $28.74.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on BBIO shares. HC Wainwright reaffirmed a “buy” rating and set a $43.00 price target on shares of BridgeBio Pharma in a report on Tuesday. UBS Group reduced their price target on BridgeBio Pharma from $51.00 to $47.00 and set a “buy” rating for the company in a research report on Tuesday, May 28th. Cantor Fitzgerald reissued an “overweight” rating and set a $70.00 price target on shares of BridgeBio Pharma in a report on Monday, July 1st. JPMorgan Chase & Co. reduced their price objective on BridgeBio Pharma from $46.00 to $43.00 and set an “overweight” rating for the company in a research report on Wednesday, August 7th. Finally, Evercore ISI decreased their price objective on BridgeBio Pharma from $50.00 to $45.00 and set an “outperform” rating on the stock in a report on Wednesday, August 7th. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $47.92.

BridgeBio Pharma Stock Down 1.9 %

The stock’s fifty day moving average price is $26.08 and its 200-day moving average price is $27.73. The company has a market capitalization of $5.74 billion, a price-to-earnings ratio of -9.66 and a beta of 1.07.

BridgeBio Pharma (NASDAQ:BBIO) last issued its quarterly earnings results on Thursday, August 1st. The company reported ($0.39) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.00) by $0.61. The business had revenue of $2.17 million during the quarter, compared to analyst estimates of $3.96 million. The firm’s quarterly revenue was up 32.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.98) earnings per share. Analysts anticipate that BridgeBio Pharma, Inc. will post -2.46 EPS for the current year.

Insider Transactions at BridgeBio Pharma

In related news, CFO Brian C. Stephenson sold 4,155 shares of the business’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $24.69, for a total transaction 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 sale was disclosed in a filing with the SEC, which is available through this link. In other BridgeBio Pharma news, CEO Neil Kumar sold 27,389 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $24.69, for a total transaction of $676,234.41. Following the completion of the sale, the chief executive officer now directly owns 4,897,443 shares in the company, valued at $120,917,867.67. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Brian C. Stephenson sold 4,155 shares of the firm’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $24.69, for a total transaction of $102,586.95. Following the completion of 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. Company insiders own 24.66% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Janus Henderson Group PLC raised its holdings in shares of BridgeBio Pharma by 189.7% in 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 last quarter. Vanguard Group Inc. boosted its stake in shares of BridgeBio Pharma by 13.5% in the 4th quarter. Vanguard Group Inc. now owns 12,800,294 shares of the company’s stock worth $516,748,000 after buying an additional 1,524,313 shares during the last quarter. Norges Bank bought a new position in shares of BridgeBio Pharma in the fourth quarter valued at approximately $46,843,000. Capital Research Global Investors increased its position 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 acquiring an additional 1,111,975 shares during the last quarter. Finally, UBS Group AG lifted its holdings in BridgeBio Pharma by 545.9% during the fourth quarter. UBS Group AG now owns 985,510 shares of the company’s stock worth $39,785,000 after acquiring an additional 832,940 shares during the period. 99.85% of the stock is owned by 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.