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

BridgeBio Pharma, Inc. (NASDAQ:BBIO) was the recipient of unusually large options trading on Tuesday. Stock traders acquired 14,691 call options on the stock. This represents an increase of 454% compared to the typical volume of 2,654 call options.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on BBIO shares. Evercore ISI dropped their price target on shares of BridgeBio Pharma from $50.00 to $45.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 7th. Bank of America reaffirmed a “buy” rating and issued a $42.00 price objective on shares of BridgeBio Pharma in a research report on Wednesday, September 11th. Piper Sandler initiated coverage on shares of BridgeBio Pharma in a research report on Wednesday, September 4th. They set an “overweight” rating and a $46.00 target price on the stock. JPMorgan Chase & Co. reduced their target price on BridgeBio Pharma from $46.00 to $43.00 and set an “overweight” rating for the company in a report on Wednesday, August 7th. Finally, HC Wainwright reiterated a “buy” rating and set a $43.00 price target on shares of BridgeBio Pharma in a report on Monday, September 16th. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $47.92.

Insiders Place Their Bets

In other BridgeBio Pharma news, major shareholder Genetic Disorder L.P. Kkr sold 5,800,000 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $25.75, for a total value of $149,350,000.00. Following the sale, the insider now owns 25,260,971 shares in the company, valued at $650,470,003.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, major shareholder Genetic Disorder L.P. Kkr sold 5,800,000 shares of the stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $25.75, for a total value of $149,350,000.00. Following the completion of the sale, the insider now owns 25,260,971 shares of the company’s stock, valued at $650,470,003.25. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Neil Kumar sold 27,389 shares of BridgeBio Pharma 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 $676,234.41. Following the completion of the transaction, the chief executive officer now directly owns 4,897,443 shares in the company, valued at $120,917,867.67. The disclosure for this sale can be found here. Insiders sold 5,831,544 shares of company stock worth $150,128,821 over the last three months. Insiders own 24.66% of the company’s stock.

Institutional Trading of BridgeBio Pharma

Several large investors have recently bought and sold shares of the company. Quarry LP grew its holdings in BridgeBio Pharma by 27.1% in the second quarter. Quarry LP now owns 7,500 shares of the company’s stock worth $190,000 after purchasing an additional 1,600 shares during the period. Frazier Life Sciences Management L.P. grew its stake in shares of BridgeBio Pharma by 6.4% in the 2nd quarter. Frazier Life Sciences Management L.P. now owns 3,632,604 shares of the company’s stock worth $92,014,000 after buying an additional 217,000 shares during the last quarter. Susquehanna Fundamental Investments LLC bought a new position in BridgeBio Pharma during the 2nd quarter valued at approximately $4,251,000. Lion Point Capital LP purchased a new position in BridgeBio Pharma during the second quarter valued at $1,241,000. Finally, The Manufacturers Life Insurance Company boosted its holdings in BridgeBio Pharma by 40.5% in the second quarter. The Manufacturers Life Insurance Company now owns 1,534,972 shares of the company’s stock worth $38,881,000 after acquiring an additional 442,248 shares in the last quarter. 99.85% of the stock is owned by institutional investors.

BridgeBio Pharma Stock Performance

Shares of BBIO stock opened at $24.51 on Thursday. BridgeBio Pharma has a fifty-two week low of $21.62 and a fifty-two week high of $44.32. The firm has a market cap of $4.61 billion, a P/E ratio of -7.61 and a beta of 1.07. The business’s 50 day moving average price is $26.37 and its 200-day moving average price is $27.10.

BridgeBio Pharma (NASDAQ:BBIO) last issued its quarterly earnings data on Thursday, August 1st. The company reported ($0.39) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.00) by $0.61. The company had revenue of $2.17 million for the quarter, compared to analysts’ expectations of $3.96 million. The firm’s revenue for the quarter was up 32.1% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.98) earnings per share. As a group, equities analysts predict that BridgeBio Pharma will post -2.54 EPS 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.