Traders Purchase Large Volume of BridgeBio Pharma Call Options (NASDAQ:BBIO)

BridgeBio Pharma, Inc. (NASDAQ:BBIO) was the recipient of some unusual options trading activity on Monday. Stock investors acquired 13,167 call options on the stock. This is an increase of approximately 210% compared to the typical daily volume of 4,241 call options.

BridgeBio Pharma Trading Up 5.5 %

Shares of NASDAQ:BBIO opened at $35.60 on Wednesday. BridgeBio Pharma has a 12-month low of $21.62 and a 12-month high of $41.04. The stock’s 50-day moving average price is $27.18 and its two-hundred day moving average price is $26.35. The firm has a market cap of $6.73 billion, a price-to-earnings ratio of -14.77 and a beta of 1.05.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on BBIO. Leerink Partners decreased their price target on shares of BridgeBio Pharma from $47.00 to $46.00 and set an “outperform” rating for the company in a research note on Thursday, October 17th. HC Wainwright restated a “buy” rating and issued a $49.00 price target on shares of BridgeBio Pharma in a research note on Monday, December 16th. Oppenheimer assumed coverage on shares of BridgeBio Pharma in a report on Thursday, October 3rd. They set a “market perform” rating on the stock. Evercore ISI boosted their target price on BridgeBio Pharma from $45.00 to $50.00 and gave the stock an “outperform” rating in a research report on Monday, December 23rd. Finally, Bank of America increased their price target on shares of BridgeBio Pharma from $42.00 to $45.00 and gave the company a “buy” rating in a research report on Monday, November 25th. Two equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $48.08.

Insider Activity at BridgeBio Pharma

In other news, CEO Neil Kumar sold 27,389 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $22.41, for a total transaction of $613,787.49. Following the sale, the chief executive officer now owns 4,897,443 shares of the company’s stock, valued at approximately $109,751,697.63. This trade represents a 0.56 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Brian C. Stephenson sold 4,156 shares of the company’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $22.41, for a total transaction of $93,135.96. Following the completion of the transaction, the chief financial officer now owns 93,758 shares of the company’s stock, valued at approximately $2,101,116.78. The trade was a 4.24 % decrease in their position. The disclosure for this sale can be found here. 24.66% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On BridgeBio Pharma

Hedge funds have recently made changes to their positions in the stock. Ensign Peak Advisors Inc lifted its stake in shares of BridgeBio Pharma by 44.5% in the 2nd quarter. Ensign Peak Advisors Inc now owns 1,646,202 shares of the company’s stock valued at $41,698,000 after purchasing an additional 506,845 shares in the last quarter. Janus Henderson Group PLC boosted its stake in BridgeBio Pharma by 11.7% during the 3rd quarter. Janus Henderson Group PLC now owns 4,818,012 shares of the company’s stock valued at $122,658,000 after acquiring an additional 505,481 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake 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 purchasing an additional 442,248 shares in the last quarter. Emerald Advisers LLC grew its position in shares of BridgeBio Pharma by 65.6% in the 3rd quarter. Emerald Advisers LLC now owns 1,103,508 shares of the company’s stock worth $28,095,000 after acquiring an additional 437,164 shares in the last quarter. Finally, First Turn Management LLC acquired a new position in BridgeBio Pharma in the third quarter worth $10,178,000. Institutional investors and hedge funds own 99.85% of the company’s stock.

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.