BridgeBio Pharma Target of Unusually High Options Trading (NASDAQ:BBIO)

BridgeBio Pharma, Inc. (NASDAQ:BBIO) was the recipient of unusually large options trading activity on Monday. Traders bought 8,235 call options on the company. This represents an increase of 88% compared to the average volume of 4,371 call options.

Wall Street Analyst Weigh In

BBIO has been the topic of a number of recent analyst reports. HC Wainwright restated a “buy” rating and issued a $49.00 price target on shares of BridgeBio Pharma in a report on Thursday, February 13th. Scotiabank raised their target price on shares of BridgeBio Pharma from $49.00 to $52.00 and gave the company a “sector outperform” rating in a research note on Friday, February 21st. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $95.00 price target on shares of BridgeBio Pharma in a research report on Friday, February 21st. JPMorgan Chase & Co. raised their price objective on BridgeBio Pharma from $44.00 to $50.00 and gave the stock an “overweight” rating in a research report on Monday, March 24th. Finally, Redburn Atlantic initiated coverage on BridgeBio Pharma in a research report on Monday. They set a “buy” rating and a $50.00 target price on the stock. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $52.64.

BridgeBio Pharma Stock Performance

NASDAQ BBIO traded down $0.50 during trading hours on Monday, reaching $34.61. The stock had a trading volume of 766,276 shares, compared to its average volume of 2,189,417. BridgeBio Pharma has a 52-week low of $21.62 and a 52-week high of $39.47. The stock has a fifty day moving average of $34.26 and a 200 day moving average of $29.29. The stock has a market cap of $6.58 billion, a P/E ratio of -12.16 and a beta of 1.07.

BridgeBio Pharma (NASDAQ:BBIO) last released its quarterly earnings data on Thursday, February 20th. The company reported ($1.31) EPS for the quarter, missing the consensus estimate of ($1.09) by ($0.22). The firm had revenue of $5.88 million for the quarter, compared to analyst estimates of $4.04 million. On average, equities research analysts forecast that BridgeBio Pharma will post -3.67 EPS for the current year.

Insider Transactions at BridgeBio Pharma

In other BridgeBio Pharma news, major shareholder Genetic Disorder L.P. Kkr sold 6,000,000 shares of the stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $32.96, for a total transaction of $197,760,000.00. Following the transaction, the insider now directly owns 19,260,971 shares in the company, valued at $634,841,604.16. This represents a 23.75 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Neil Kumar sold 75,000 shares of the company’s stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $36.87, for a total value of $2,765,250.00. Following the sale, the chief executive officer now 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. Over the last ninety days, insiders have sold 9,654,739 shares of company stock worth $325,937,151. Insiders own 24.66% of the company’s stock.

Institutional Investors Weigh In On BridgeBio Pharma

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Steward Partners Investment Advisory LLC lifted its holdings in BridgeBio Pharma by 85.8% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,022 shares of the company’s stock valued at $28,000 after acquiring an additional 472 shares during the period. Itau Unibanco Holding S.A. acquired a new position in shares of BridgeBio Pharma in the 4th quarter valued at $41,000. Sterling Capital Management LLC lifted its stake in shares of BridgeBio Pharma by 554.6% in the 4th 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 during the period. GF Fund Management CO. LTD. purchased a new stake in BridgeBio Pharma during the fourth quarter worth $109,000. Finally, Avanza Fonder AB acquired a new stake in BridgeBio Pharma during the fourth quarter valued at $181,000. 99.85% of the stock is owned by institutional investors and hedge funds.

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.