BridgeBio Pharma (NASDAQ:BBIO) Shares Gap Down – Time to Sell?

Shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) gapped down prior to trading on Thursday . The stock had previously closed at $34.97, but opened at $32.50. BridgeBio Pharma shares last traded at $32.97, with a volume of 1,151,089 shares changing hands.

Analyst Ratings Changes

Several equities analysts have recently weighed in on BBIO shares. Citigroup increased their price objective on shares of BridgeBio Pharma from $45.00 to $49.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. Cantor Fitzgerald reiterated an “overweight” rating and set a $95.00 target price on shares of BridgeBio Pharma in a research report on Friday, February 21st. Bank of America raised their target price on shares of BridgeBio Pharma from $42.00 to $45.00 and gave the company a “buy” rating in a research note on Monday, November 25th. HC Wainwright reiterated a “buy” rating and set a $49.00 target price on shares of BridgeBio Pharma in a research report on Thursday, February 13th. Finally, Scotiabank lifted their price target on BridgeBio Pharma from $49.00 to $52.00 and gave the stock a “sector outperform” rating in a research report on Friday, February 21st. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, BridgeBio Pharma presently has a consensus rating of “Moderate Buy” and a consensus target price of $51.55.

BridgeBio Pharma Trading Down 7.0 %

The stock has a market cap of $6.19 billion, a PE ratio of -11.42 and a beta of 1.07. The firm’s 50-day moving average price is $33.01 and its two-hundred day moving average price is $28.51.

BridgeBio Pharma (NASDAQ:BBIO) last posted its earnings results on Thursday, February 20th. The company reported ($1.31) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.09) by ($0.22). The company had revenue of $5.88 million for the quarter, compared to analysts’ expectations of $4.04 million. On average, analysts anticipate that BridgeBio Pharma, Inc. will post -3.67 earnings per share for the current year.

Insider Buying and Selling at BridgeBio Pharma

In related news, CFO Brian C. Stephenson sold 68,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $36.29, for a total transaction of $2,467,720.00. Following the sale, the chief financial officer now directly owns 93,758 shares in the company, valued at approximately $3,402,477.82. This represents a 42.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Neil Kumar sold 326,932 shares of the company’s stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $36.29, for a total value of $11,864,362.28. Following the transaction, the chief executive officer now directly owns 5,371,515 shares of the company’s stock, valued at approximately $194,932,279.35. This represents a 5.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 3,579,739 shares of company stock worth $125,411,901 in the last three months. 24.66% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Ironwood Investment Management LLC lifted its position in BridgeBio Pharma by 0.5% during the fourth quarter. Ironwood Investment Management LLC now owns 63,157 shares of the company’s stock valued at $1,733,000 after buying an additional 338 shares in the last quarter. Summit Investment Advisors Inc. lifted its stake in BridgeBio Pharma by 3.3% in the fourth quarter. Summit Investment Advisors Inc. now owns 14,706 shares of the company’s stock valued at $404,000 after buying an additional 466 shares during the last quarter. Steward Partners Investment Advisory LLC increased its position in BridgeBio Pharma by 85.8% in the 4th 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. Mackenzie Financial Corp raised its position in shares of BridgeBio Pharma by 6.6% during the 4th quarter. Mackenzie Financial Corp now owns 9,505 shares of the company’s stock worth $261,000 after buying an additional 592 shares in the last quarter. Finally, Xponance Inc. lifted its holdings in shares of BridgeBio Pharma by 9.1% in the fourth quarter. Xponance Inc. now owns 10,089 shares of the company’s stock valued at $277,000 after buying an additional 844 shares during the period. 99.85% of the stock is currently owned by hedge funds and other institutional investors.

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.