BridgeBio Pharma (NASDAQ:BBIO) Shares Up 6.6% – What’s Next?

BridgeBio Pharma, Inc. (NASDAQ:BBIO)’s stock price rose 6.6% during trading on Tuesday . The stock traded as high as $36.15 and last traded at $35.96. Approximately 2,596,130 shares changed hands during trading, a decline of 4% from the average daily volume of 2,707,698 shares. The stock had previously closed at $33.73.

Analysts Set New Price Targets

BBIO has been the topic of a number of research analyst reports. Scotiabank boosted their price objective on shares of BridgeBio Pharma from $45.00 to $48.00 and gave the company a “sector outperform” rating in a report on Monday, November 25th. Leerink Partners cut their price objective on BridgeBio Pharma from $47.00 to $46.00 and set an “outperform” rating on the stock in a report on Thursday, October 17th. Evercore ISI raised their price objective on BridgeBio Pharma from $45.00 to $50.00 and gave the stock an “outperform” rating in a research note on Monday, December 23rd. HC Wainwright reiterated a “buy” rating and issued a $49.00 target price on shares of BridgeBio Pharma in a research report on Monday, December 16th. Finally, Oppenheimer started coverage on shares of BridgeBio Pharma in a research report on Thursday, October 3rd. They set a “market perform” rating for the company. Two investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $48.08.

BridgeBio Pharma Stock Down 2.5 %

The company’s 50-day moving average is $27.37 and its 200 day moving average is $26.41. The company has a market cap of $6.45 billion, a price-to-earnings ratio of -14.15 and a beta of 1.05.

Insider Transactions at BridgeBio Pharma

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

Institutional Trading of BridgeBio Pharma

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Values First Advisors Inc. acquired a new stake in BridgeBio Pharma in the 3rd quarter worth about $57,000. CWM LLC boosted its stake in shares of BridgeBio Pharma by 132.9% in the third quarter. CWM LLC now owns 3,442 shares of the company’s stock worth $88,000 after acquiring an additional 1,964 shares during the last quarter. Advisors Asset Management Inc. increased its position in shares of BridgeBio Pharma by 56.1% during the third quarter. Advisors Asset Management Inc. now owns 4,576 shares of the company’s stock worth $117,000 after purchasing an additional 1,645 shares in the last quarter. Amalgamated Bank raised its stake in BridgeBio Pharma by 24.7% in the 2nd quarter. Amalgamated Bank now owns 4,863 shares of the company’s stock valued at $123,000 after purchasing an additional 962 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its holdings in BridgeBio Pharma by 17.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 5,322 shares of the company’s stock valued at $135,000 after purchasing an additional 801 shares in the last quarter. Hedge funds and other institutional investors own 99.85% of the company’s stock.

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.