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

BridgeBio Pharma, Inc. (NASDAQ:BBIO) saw some unusual options trading activity on Monday. Stock investors purchased 5,930 put options on the company. This is an increase of 67% compared to the typical volume of 3,542 put options.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Redburn Atlantic initiated coverage on BridgeBio Pharma in a report on Monday, March 31st. They set a “buy” rating and a $50.00 target price on the stock. JPMorgan Chase & Co. boosted their target price on shares of BridgeBio Pharma from $44.00 to $50.00 and gave the company an “overweight” rating in a research note on Monday, March 24th. Scotiabank upped their target price on shares of BridgeBio Pharma from $49.00 to $52.00 and gave the company a “sector outperform” rating in a report on Friday, February 21st. Citigroup lifted their price target on shares of BridgeBio Pharma from $45.00 to $49.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $95.00 price objective on shares of BridgeBio Pharma in a research note on Friday, February 21st. One analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $53.00.

Insider Buying and Selling at BridgeBio Pharma

In other BridgeBio Pharma news, CEO Neil Kumar sold 75,000 shares of the company’s stock in a transaction dated Tuesday, April 22nd. The shares were sold at an average price of $34.11, for a total value of $2,558,250.00. Following the sale, the chief executive officer now owns 4,873,447 shares of the company’s stock, valued at $166,233,277.17. This represents a 1.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Genetic Disorder L.P. Kkr sold 6,000,000 shares of the stock in a transaction that occurred on 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 completion of the sale, the insider now owns 19,260,971 shares in the company, valued at $634,841,604.16. This represents a 23.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 9,374,807 shares of company stock valued at $315,534,819. Corporate insiders own 24.66% of the company’s stock.

Institutional Trading of BridgeBio Pharma

Institutional investors have recently modified their holdings of the company. GF Fund Management CO. LTD. raised its holdings in BridgeBio Pharma by 22.0% in the first quarter. GF Fund Management CO. LTD. now owns 4,839 shares of the company’s stock valued at $167,000 after buying an additional 871 shares during the period. Principal Financial Group Inc. raised its stake in shares of BridgeBio Pharma by 9.3% in the 1st quarter. Principal Financial Group Inc. now owns 1,148,292 shares of the company’s stock valued at $39,696,000 after acquiring an additional 98,153 shares during the period. First Bank & Trust lifted its holdings in shares of BridgeBio Pharma by 13.7% during the 1st quarter. First Bank & Trust now owns 8,493 shares of the company’s stock valued at $294,000 after acquiring an additional 1,022 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in BridgeBio Pharma during the 1st quarter worth $251,000. Finally, Diversified Trust Co increased its holdings in BridgeBio Pharma by 25.3% in the 1st quarter. Diversified Trust Co now owns 34,866 shares of the company’s stock valued at $1,205,000 after purchasing an additional 7,039 shares in the last quarter. Hedge funds and other institutional investors own 99.85% of the company’s stock.

BridgeBio Pharma Stock Up 1.5 %

Shares of BBIO opened at $36.42 on Wednesday. BridgeBio Pharma has a fifty-two week low of $21.62 and a fifty-two week high of $39.47. The company’s fifty day moving average is $33.90 and its two-hundred day moving average is $30.61. The firm has a market cap of $6.91 billion, a PE ratio of -12.78 and a beta of 1.08.

BridgeBio Pharma (NASDAQ:BBIO) last issued its earnings results on Tuesday, April 29th. The company reported ($0.88) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.00) by $0.12. The firm had revenue of $36.74 million during the quarter, compared to analyst estimates of $57.14 million. BridgeBio Pharma’s revenue was down 44.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.20) EPS. As a group, equities research analysts anticipate that BridgeBio Pharma will post -3.67 earnings per share for the current year.

About BridgeBio Pharma

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.