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

BridgeBio Pharma, Inc. (NASDAQ:BBIO) was the target of some unusual options trading activity on Tuesday. Investors acquired 14,691 call options on the stock. This represents an increase of 454% compared to the average daily volume of 2,654 call options.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $70.00 price target on shares of BridgeBio Pharma in a research report on Monday, September 16th. HC Wainwright reaffirmed a “buy” rating and set a $43.00 target price on shares of BridgeBio Pharma in a report on Monday, September 16th. UBS Group lowered their price target on BridgeBio Pharma from $51.00 to $47.00 and set a “buy” rating for the company in a report on Tuesday, May 28th. Bank of America reiterated a “buy” rating and issued a $42.00 price target on shares of BridgeBio Pharma in a report on Wednesday, September 11th. Finally, Evercore ISI lowered their price target on BridgeBio Pharma from $50.00 to $45.00 and set an “outperform” rating for the company in a report on Wednesday, August 7th. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $47.92.

Insider Activity

In other news, CFO Brian C. Stephenson sold 4,155 shares of the firm’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $24.69, for a total transaction of $102,586.95. Following the completion of the sale, the chief financial officer now directly owns 85,192 shares in the company, valued at $2,103,390.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Neil Kumar sold 27,389 shares of the company’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $24.69, for a total value of $676,234.41. Following the sale, the chief executive officer now directly owns 4,897,443 shares of the company’s stock, valued at $120,917,867.67. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Brian C. Stephenson sold 4,155 shares of the stock in a transaction on Monday, August 19th. The shares were sold at an average price of $24.69, for a total transaction of $102,586.95. Following the transaction, the chief financial officer now owns 85,192 shares in the company, valued at $2,103,390.48. The disclosure for this sale can be found here. Over the last three months, insiders sold 5,831,544 shares of company stock worth $150,128,821. 24.66% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On BridgeBio Pharma

Large investors have recently added to or reduced their stakes in the stock. Wellington Management Group LLP grew 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 worth $60,358,000 after purchasing an additional 75,564 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of BridgeBio Pharma by 22.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 803,956 shares of the company’s stock worth $24,859,000 after purchasing an additional 145,594 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of BridgeBio Pharma by 3.3% in the first quarter. Vanguard Group Inc. now owns 13,222,126 shares of the company’s stock worth $408,828,000 after purchasing an additional 421,832 shares in the last quarter. ADAR1 Capital Management LLC bought a new position in shares of BridgeBio Pharma in the fourth quarter worth $7,474,000. Finally, Comerica Bank grew its stake in shares of BridgeBio Pharma by 3,013.5% in the first quarter. Comerica Bank now owns 38,514 shares of the company’s stock worth $1,191,000 after purchasing an additional 37,277 shares in the last quarter. 99.85% of the stock is owned by institutional investors and hedge funds.

BridgeBio Pharma Price Performance

Shares of NASDAQ BBIO opened at $24.86 on Wednesday. BridgeBio Pharma has a 1-year low of $21.62 and a 1-year high of $44.32. The business’s fifty day moving average price is $26.37 and its two-hundred day moving average price is $27.10. The firm has a market capitalization of $4.65 billion, a PE ratio of -7.72 and a beta of 1.07.

BridgeBio Pharma (NASDAQ:BBIO) last issued its earnings results on Thursday, August 1st. The company reported ($0.39) earnings per share for the quarter, topping the consensus estimate of ($1.00) by $0.61. The company had revenue of $2.17 million during the quarter, compared to analyst estimates of $3.96 million. During the same period in the prior year, the business earned ($0.98) earnings per share. BridgeBio Pharma’s quarterly revenue was up 32.1% on a year-over-year basis. Equities research analysts expect that BridgeBio Pharma will post -2.49 earnings per share for the current fiscal 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.