BridgeBio Pharma, Inc. (NASDAQ:BBIO – Get Free Report) was the target of some unusual options trading on Monday. Investors purchased 15,671 call options on the stock. This is an increase of approximately 147% compared to the typical volume of 6,341 call options.
Analysts Set New Price Targets
A number of research firms have issued reports on BBIO. Evercore ISI began coverage on BridgeBio Pharma in a research report on Wednesday, April 19th. They issued an “outperform” rating and a $40.00 target price on the stock. Jefferies Financial Group cut BridgeBio Pharma from a “buy” rating to a “hold” rating in a research report on Monday. SVB Securities boosted their price target on BridgeBio Pharma from $25.00 to $27.00 and gave the stock an “outperform” rating in a report on Thursday, April 13th. Finally, Mizuho boosted their price target on BridgeBio Pharma from $23.00 to $29.00 in a report on Monday, May 8th. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $26.63.
BridgeBio Pharma Price Performance
Shares of NASDAQ:BBIO opened at $32.04 on Tuesday. The company has a market capitalization of $5.14 billion, a PE ratio of -11.28 and a beta of 0.79. The business has a fifty day moving average price of $15.87 and a two-hundred day moving average price of $13.69. BridgeBio Pharma has a 1 year low of $6.55 and a 1 year high of $34.28.
Insider Buying and Selling at BridgeBio Pharma
In other news, CFO Brian C. Stephenson sold 24,424 shares of BridgeBio Pharma stock in a transaction on Wednesday, May 17th. The stock was sold at an average price of $14.01, for a total transaction of $342,180.24. Following the completion of the sale, the chief financial officer now owns 36,408 shares of the company’s stock, valued at $510,076.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other BridgeBio Pharma news, CEO Neil Kumar sold 51,552 shares of BridgeBio Pharma stock in a transaction dated Wednesday, May 17th. The stock was sold at an average price of $14.01, for a total value of $722,243.52. Following the transaction, the chief executive officer now owns 4,813,197 shares in the company, valued at $67,432,889.97. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Brian C. Stephenson sold 24,424 shares of BridgeBio Pharma stock in a transaction dated Wednesday, May 17th. The shares were sold at an average price of $14.01, for a total value of $342,180.24. Following the completion of the transaction, the chief financial officer now owns 36,408 shares in the company, valued at approximately $510,076.08. The disclosure for this sale can be found here. Insiders own 28.52% of the company’s stock.
Institutional Inflows and Outflows
A number of institutional investors have recently bought and sold shares of the business. IFP Advisors Inc purchased a new position in shares of BridgeBio Pharma during the 4th quarter valued at $28,000. Clear Street Markets LLC purchased a new position in shares of BridgeBio Pharma during the 1st quarter valued at $33,000. Quantbot Technologies LP lifted its position in shares of BridgeBio Pharma by 500.0% during the 1st quarter. Quantbot Technologies LP now owns 4,200 shares of the company’s stock valued at $42,000 after buying an additional 3,500 shares during the last quarter. Sandia Investment Management LP purchased a new position in shares of BridgeBio Pharma during the 1st quarter valued at $83,000. Finally, Quantamental Technologies LLC purchased a new position in shares of BridgeBio Pharma during the 1st quarter valued at $104,000. Institutional investors own 94.32% of the company’s stock.
BridgeBio Pharma Company Profile
BridgeBio Pharma, Inc engages in the discovery, development, and delivery of various medicines for genetic diseases. The company has a pipeline of 30 development programs that include product candidates ranging from early discovery to late-stage development. Its products in development programs include AG10 and BBP-265, a small molecule stabilizer of transthyretin, or TTR that is in Phase 3 clinical trial for the treatment of TTR amyloidosis-cardiomyopathy, or ATTR-CM; BBP-831, a small molecule selective FGFR1-3 inhibitor, which is Phase 2 clinical trial to treat achondroplasia in pediatric patients; and BBP-631, an AAV5 gene transfer product candidate that is in Phase 2 clinical trial for the treatment of congenital adrenal hyperplasia, or CAH, driven by 21-hydroxylase deficiency, or 21OHD.
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