BridgeBio Pharma, Inc. (NASDAQ:BBIO) Short Interest Down 7.9% in January

BridgeBio Pharma, Inc. (NASDAQ:BBIO) saw a significant drop in short interest during the month of January. As of January 31st, there was short interest totalling 18,780,000 shares, a drop of 7.9% from the January 15th total of 20,380,000 shares. Based on an average daily trading volume, of 2,470,000 shares, the days-to-cover ratio is presently 7.6 days. Approximately 12.7% of the company’s stock are short sold.

Insider Buying and Selling at BridgeBio Pharma

In other news, CFO Brian C. Stephenson sold 68,000 shares of the business’s stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $36.29, for a total transaction of $2,467,720.00. Following the sale, the chief financial officer now directly owns 93,758 shares of the company’s stock, valued at $3,402,477.82. The trade was a 42.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Neil Kumar sold 326,932 shares of the company’s stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $36.29, for a total value of $11,864,362.28. Following the completion of the transaction, the chief executive officer now directly owns 5,371,515 shares in the company, valued at approximately $194,932,279.35. The trade was a 5.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 3,460,548 shares of company stock worth $121,322,081. 24.66% of the stock is owned by insiders.

Hedge Funds Weigh In On BridgeBio Pharma

A number of hedge funds have recently bought and sold shares of the business. Steward Partners Investment Advisory LLC raised its stake in shares of BridgeBio Pharma by 85.8% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,022 shares of the company’s stock worth $28,000 after buying an additional 472 shares during the period. Itau Unibanco Holding S.A. purchased a new position in BridgeBio Pharma during the fourth quarter valued at $41,000. Sterling Capital Management LLC lifted its holdings in BridgeBio Pharma by 554.6% during the fourth quarter. Sterling Capital Management LLC now owns 1,787 shares of the company’s stock valued at $49,000 after purchasing an additional 1,514 shares in the last quarter. Values First Advisors Inc. acquired a new stake in shares of BridgeBio Pharma in the third quarter valued at about $57,000. Finally, CWM LLC raised its position in shares of BridgeBio Pharma by 132.9% during the 3rd quarter. CWM LLC now owns 3,442 shares of the company’s stock worth $88,000 after purchasing an additional 1,964 shares during the last quarter. Hedge funds and other institutional investors own 99.85% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on BBIO shares. HC Wainwright reiterated a “buy” rating and issued a $49.00 price target on shares of BridgeBio Pharma in a report on Thursday, February 13th. Scotiabank increased their price objective on shares of BridgeBio Pharma from $48.00 to $49.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, February 12th. Evercore ISI boosted their target price on shares of BridgeBio Pharma from $45.00 to $50.00 and gave the company an “outperform” rating in a research report on Monday, December 23rd. Finally, Bank of America upped their price target on shares of BridgeBio Pharma from $42.00 to $45.00 and gave the company a “buy” rating in a report on Monday, November 25th. One analyst has rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $49.08.

BridgeBio Pharma Price Performance

BBIO stock opened at $34.90 on Tuesday. BridgeBio Pharma has a 52-week low of $21.62 and a 52-week high of $41.04. The company’s 50-day simple moving average is $31.25 and its 200-day simple moving average is $27.66.

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.