BridgeBio Pharma (NASDAQ:BBIO) Sees Strong Trading Volume

BridgeBio Pharma, Inc. (NASDAQ:BBIOGet Free Report) shares saw an uptick in trading volume on Wednesday . 1,287,038 shares were traded during mid-day trading, a decline of 28% from the previous session’s volume of 1,794,918 shares.The stock last traded at $30.36 and had previously closed at $29.60.

Analyst Upgrades and Downgrades

Several brokerages have commented on BBIO. Mizuho decreased their target price on shares of BridgeBio Pharma from $60.00 to $53.00 and set a “buy” rating for the company in a report on Tuesday. BMO Capital Markets initiated coverage on shares of BridgeBio Pharma in a research note on Wednesday, January 31st. They set a “market perform” rating and a $37.00 target price on the stock. Cantor Fitzgerald reiterated an “overweight” rating and set a $50.00 price target on shares of BridgeBio Pharma in a report on Monday, January 22nd. HC Wainwright reissued a “buy” rating and set a $47.00 price target on shares of BridgeBio Pharma in a research report on Monday. Finally, Citigroup raised their price objective on BridgeBio Pharma from $42.00 to $46.00 and gave the stock a “buy” rating in a research report on Friday, February 23rd. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, BridgeBio Pharma presently has an average rating of “Moderate Buy” and a consensus price target of $43.62.

Check Out Our Latest Stock Analysis on BridgeBio Pharma

BridgeBio Pharma Stock Up 1.9 %

The business has a fifty day moving average of $35.94 and a 200 day moving average of $31.78.

BridgeBio Pharma (NASDAQ:BBIOGet Free Report) last released its quarterly earnings results 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 for the quarter, compared to analyst estimates of $4.78 million. The company’s quarterly revenue was down 8.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.92) EPS. Analysts expect that BridgeBio Pharma, Inc. will post -3.63 EPS for the current fiscal year.

Insider Activity

In related news, Director Frank Mccormick sold 100,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 26th. The stock was sold at an average price of $42.06, for a total value of $4,206,000.00. Following the completion of the sale, the director now directly owns 627,689 shares in the company, valued at approximately $26,400,599.34. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, Director Randal W. Scott sold 2,500 shares of the business’s stock in a transaction dated 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 transaction, the director now owns 6,500 shares of the company’s stock, valued at approximately $221,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Frank Mccormick sold 100,000 shares of the stock in a transaction on Tuesday, December 26th. The shares were sold at an average price of $42.06, for a total transaction of $4,206,000.00. Following the completion of the sale, the director now directly owns 627,689 shares of the company’s stock, valued at $26,400,599.34. The disclosure for this sale can be found here. In the last quarter, insiders have sold 107,415 shares of company stock valued at $4,481,683. Insiders own 28.52% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Wellington Management Group LLP raised its stake in shares of BridgeBio Pharma by 5.3% in the fourth quarter. Wellington Management Group LLP now owns 1,495,114 shares of the company’s stock valued at $60,358,000 after purchasing an additional 75,564 shares in the last quarter. Virtu Financial LLC bought a new position in BridgeBio Pharma during the 4th quarter valued at about $245,000. Quarry LP acquired a new position in BridgeBio Pharma in the fourth quarter valued at about $50,000. Price T Rowe Associates Inc. MD grew its stake in BridgeBio Pharma by 962.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 658,362 shares of the company’s stock worth $26,579,000 after buying an additional 596,386 shares during the last quarter. Finally, Exome Asset Management LLC acquired a new stake in shares of BridgeBio Pharma during the fourth quarter worth approximately $2,629,000. Institutional investors and hedge funds own 90.85% of the company’s stock.

BridgeBio Pharma Company Profile

(Get Free Report)

BridgeBio Pharma, Inc engages in the discovery, development, and delivery of various medicines for genetic diseases. The company has a pipeline of 30 development programs that include product candidates ranging from early discovery to late-stage development. Its products in development programs include AG10 and BBP-265, a small molecule stabilizer of transthyretin, or TTR that is in Phase 3 clinical trial for the treatment of TTR amyloidosis-cardiomyopathy, or ATTR-CM; BBP-831, a small molecule selective FGFR1-3 inhibitor, which is Phase 2 clinical trial to treat achondroplasia in pediatric patients; and BBP-631, an AAV5 gene transfer product candidate that is in Phase 2 clinical trial for the treatment of congenital adrenal hyperplasia, or CAH, driven by 21-hydroxylase deficiency, or 21OHD.

Further Reading

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