BridgeBio Pharma (NASDAQ:BBIO) Shares Down 4.9% – Should You Sell?

BridgeBio Pharma, Inc. (NASDAQ:BBIO)’s share price dropped 4.9% on Tuesday . The company traded as low as $25.70 and last traded at $25.86. Approximately 799,085 shares were traded during trading, a decline of 58% from the average daily volume of 1,904,318 shares. The stock had previously closed at $27.19.

Wall Street Analyst Weigh In

BBIO has been the subject of a number of analyst reports. Leerink Partners lowered their target price on BridgeBio Pharma from $47.00 to $46.00 and set an “outperform” rating for the company in a report on Thursday, October 17th. JPMorgan Chase & Co. decreased their price objective on BridgeBio Pharma from $46.00 to $43.00 and set an “overweight” rating for the company in a report on Wednesday, August 7th. Oppenheimer initiated coverage on BridgeBio Pharma in a report on Thursday, October 3rd. They set a “market perform” rating for the company. Bank of America increased their price objective on BridgeBio Pharma from $42.00 to $45.00 and gave the company a “buy” rating in a report on Monday. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $70.00 price objective on shares of BridgeBio Pharma in a report on Monday, September 16th. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $48.43.

BridgeBio Pharma Trading Up 0.1 %

The firm has a 50-day simple moving average of $24.98 and a two-hundred day simple moving average of $26.23. The company has a market capitalization of $5.15 billion, a price-to-earnings ratio of -11.10 and a beta of 1.09.

Insider Transactions at BridgeBio Pharma

In related news, major shareholder Genetic Disorder L.P. Kkr sold 5,800,000 shares of the firm’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $25.75, for a total value of $149,350,000.00. Following the transaction, the insider now directly owns 25,260,971 shares of the company’s stock, valued at approximately $650,470,003.25. This trade represents a 18.67 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Brian C. Stephenson sold 4,156 shares of the firm’s stock in a transaction dated 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 directly owns 93,758 shares in the company, 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. Insiders have sold a total of 5,831,545 shares of company stock valued at $150,056,923 in the last ninety days. 24.66% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of BBIO. Janus Henderson Group PLC lifted its stake in BridgeBio Pharma by 189.7% in the 1st quarter. Janus Henderson Group PLC now owns 3,312,706 shares of the company’s stock valued at $102,402,000 after buying an additional 2,169,143 shares in the last quarter. Ensign Peak Advisors Inc lifted its stake in 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 buying an additional 506,845 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in BridgeBio Pharma by 40.5% in the 2nd 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 lifted its stake in 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 purchasing an additional 437,164 shares in the last quarter. Finally, First Turn Management LLC purchased a new position in BridgeBio Pharma in the 3rd quarter worth approximately $10,178,000. 99.85% of the stock is owned by hedge funds and other institutional investors.

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.