BridgeBio Pharma, Inc. (NASDAQ:BBIO) Short Interest Update

BridgeBio Pharma, Inc. (NASDAQ:BBIO) was the recipient of a large increase in short interest during the month of April. As of April 15th, there was short interest totalling 15,070,000 shares, an increase of 5.5% from the March 31st total of 14,280,000 shares. Approximately 10.9% of the shares of the company are short sold. Based on an average daily volume of 1,690,000 shares, the days-to-cover ratio is presently 8.9 days.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on BBIO shares. BMO Capital Markets started coverage on BridgeBio Pharma in a research report on Wednesday, January 31st. They set a “market perform” rating and a $37.00 target price for the company. JPMorgan Chase & Co. raised their target price on BridgeBio Pharma from $35.00 to $45.00 and gave the company an “overweight” rating in a research report on Wednesday, March 20th. Citigroup increased their price target on BridgeBio Pharma from $42.00 to $46.00 and gave the stock a “buy” rating in a research note on Friday, February 23rd. Raymond James assumed coverage on BridgeBio Pharma in a research note on Thursday, March 21st. They set an “outperform” rating and a $45.00 price target for the company. Finally, Cantor Fitzgerald increased their price target on BridgeBio Pharma from $60.00 to $70.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 19th. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $47.82.

Insider Activity

In other news, Director Randal W. Scott sold 2,500 shares of the firm’s stock in a transaction 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 completion of the sale, the director now directly owns 6,500 shares of the company’s stock, valued at approximately $221,000. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 28.52% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. YHB Investment Advisors Inc. bought a new position in BridgeBio Pharma in the 1st quarter worth about $34,000. Quarry LP purchased a new stake in shares of BridgeBio Pharma in the 4th quarter valued at about $50,000. Assetmark Inc. purchased a new stake in shares of BridgeBio Pharma in the 3rd quarter valued at about $53,000. China Universal Asset Management Co. Ltd. raised its holdings in shares of BridgeBio Pharma by 98.2% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 4,171 shares of the company’s stock valued at $110,000 after acquiring an additional 2,067 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of BridgeBio Pharma in the 3rd quarter valued at about $132,000. Institutional investors own 99.85% of the company’s stock.

BridgeBio Pharma Stock Up 5.5 %

Shares of NASDAQ BBIO opened at $27.03 on Thursday. BridgeBio Pharma has a 52 week low of $12.75 and a 52 week high of $44.32. The business has a 50-day simple moving average of $28.83 and a two-hundred day simple moving average of $31.76. The company has a market cap of $5.06 billion, a P/E ratio of -6.86 and a beta of 1.03.

BridgeBio Pharma (NASDAQ:BBIO) last issued its earnings results on Thursday, February 22nd. The company reported ($0.96) EPS for the quarter, missing the consensus estimate of ($0.87) by ($0.09). The business had revenue of $1.74 million during the quarter, compared to analyst estimates of $4.78 million. During the same period in the prior year, the company posted ($0.92) EPS. The firm’s revenue for the quarter was down 8.4% compared to the same quarter last year. Equities research analysts anticipate that BridgeBio Pharma will post -2.89 EPS 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.