BridgeBio Pharma, Inc. (NASDAQ:BBIO – Get Free Report) was the target of a large increase in short interest during the month of March. As of March 31st, there was short interest totalling 14,280,000 shares, an increase of 6.5% from the March 15th total of 13,410,000 shares. Based on an average trading volume of 1,730,000 shares, the days-to-cover ratio is presently 8.3 days. Currently, 10.3% of the shares of the stock are short sold.
Insiders Place Their Bets
In other news, Director Randal W. Scott sold 2,500 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $34.00, for a total transaction of $85,000.00. Following the transaction, the director now owns 6,500 shares of the company’s stock, valued at approximately $221,000. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 28.52% of the company’s stock.
Institutional Trading of BridgeBio Pharma
Several hedge funds and other institutional investors have recently bought and sold shares of BBIO. Clear Street Markets LLC acquired a new stake in BridgeBio Pharma during the first quarter worth about $33,000. Quantbot Technologies LP grew its holdings in BridgeBio Pharma by 500.0% during the first quarter. Quantbot Technologies LP now owns 4,200 shares of the company’s stock worth $42,000 after acquiring an additional 3,500 shares during the period. Quarry LP acquired a new stake in BridgeBio Pharma during the fourth quarter worth about $50,000. Assetmark Inc. acquired a new stake in BridgeBio Pharma during the third quarter worth about $53,000. Finally, Sandia Investment Management LP acquired a new stake in BridgeBio Pharma during the first quarter worth about $83,000. 99.85% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Get Our Latest Stock Analysis on BBIO
BridgeBio Pharma Stock Performance
Shares of BBIO stock opened at $24.98 on Thursday. The stock’s 50-day simple moving average is $30.88 and its 200-day simple moving average is $31.77. The firm has a market capitalization of $4.39 billion, a PE ratio of -6.34 and a beta of 1.03. BridgeBio Pharma has a fifty-two week low of $12.75 and a fifty-two week high of $44.32.
BridgeBio Pharma (NASDAQ:BBIO – Get Free Report) last announced its quarterly earnings data on Thursday, February 22nd. The company reported ($0.96) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.87) by ($0.09). The firm had revenue of $1.74 million during the quarter, compared to analyst estimates of $4.78 million. The business’s revenue for the quarter was down 8.4% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.92) earnings per share. Sell-side analysts forecast that BridgeBio Pharma will post -3.09 earnings per share for the current year.
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.
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