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

BridgeBio Pharma, Inc. (NASDAQ:BBIO) was the recipient of unusually large options trading activity on Monday. Stock traders bought 5,930 put options on the company. This is an increase of approximately 67% compared to the typical volume of 3,542 put options.

BridgeBio Pharma Stock Down 2.5 %

BBIO stock traded down $0.89 during trading on Monday, hitting $35.42. The company had a trading volume of 1,552,672 shares, compared to its average volume of 2,930,411. BridgeBio Pharma has a 1-year low of $21.62 and a 1-year high of $39.47. The firm has a 50-day moving average price of $33.92 and a 200-day moving average price of $30.50. The firm has a market cap of $6.72 billion, a PE ratio of -12.40 and a beta of 1.08.

BridgeBio Pharma (NASDAQ:BBIO) last posted its quarterly earnings results on Thursday, February 20th. The company reported ($1.31) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.09) by ($0.22). The business had revenue of $5.88 million during the quarter, compared to analysts’ expectations of $4.04 million. Sell-side analysts anticipate that BridgeBio Pharma will post -3.67 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on BBIO shares. Cantor Fitzgerald reiterated an “overweight” rating and set a $95.00 price objective on shares of BridgeBio Pharma in a research note on Friday, February 21st. Citigroup lifted their target price on shares of BridgeBio Pharma from $45.00 to $49.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. JPMorgan Chase & Co. boosted their price objective on BridgeBio Pharma from $44.00 to $50.00 and gave the company an “overweight” rating in a research note on Monday, March 24th. Scotiabank lifted their price target on BridgeBio Pharma from $49.00 to $52.00 and gave the company a “sector outperform” rating in a research report on Friday, February 21st. Finally, HC Wainwright increased their price objective on BridgeBio Pharma from $49.00 to $53.00 and gave the stock a “buy” rating in a report on Tuesday, April 15th. One analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $53.00.

Insiders Place Their Bets

In other BridgeBio Pharma news, major shareholder Global Investors Lp Viking sold 3,065,616 shares of BridgeBio Pharma stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $34.90, for a total value of $106,989,998.40. Following the completion of the sale, the insider now directly owns 22,055,375 shares in the company, valued at $769,732,587.50. The trade was a 12.20 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Neil Kumar sold 75,000 shares of the business’s stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $36.87, for a total transaction of $2,765,250.00. Following the transaction, the chief executive officer now directly owns 4,948,447 shares of the company’s stock, valued at approximately $182,449,240.89. This represents a 1.49 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 9,769,739 shares of company stock valued at $329,866,901 over the last 90 days. 24.66% of the stock is owned by company insiders.

Hedge Funds Weigh In On BridgeBio Pharma

A number of large investors have recently made changes to their positions in the business. Barclays PLC boosted its holdings in BridgeBio Pharma by 31.9% in the 3rd quarter. Barclays PLC now owns 545,008 shares of the company’s stock valued at $13,876,000 after purchasing an additional 131,743 shares during the period. Exome Asset Management LLC increased its position in shares of BridgeBio Pharma by 167.4% during the third quarter. Exome Asset Management LLC now owns 211,000 shares of the company’s stock worth $5,372,000 after acquiring an additional 132,093 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in BridgeBio Pharma by 1.8% during the third quarter. Principal Financial Group Inc. now owns 1,145,123 shares of the company’s stock worth $29,155,000 after purchasing an additional 19,978 shares during the last quarter. Avanza Fonder AB acquired a new position in shares of BridgeBio Pharma during the 4th quarter worth about $181,000. Finally, Moss Adams Wealth Advisors LLC acquired a new stake in BridgeBio Pharma during the 4th quarter valued at $208,000. 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.