BridgeBio Pharma Sees Unusually High Options Volume (NASDAQ:BBIO)

BridgeBio Pharma, Inc. (NASDAQ:BBIO) saw unusually large options trading on Monday. Stock investors acquired 13,167 call options on the stock. This is an increase of 210% compared to the typical daily volume of 4,241 call options.

BridgeBio Pharma Stock Up 16.0 %

BBIO opened at $33.73 on Tuesday. The company has a market capitalization of $6.37 billion, a PE ratio of -14.00 and a beta of 1.05. The firm has a 50-day simple moving average of $26.98 and a two-hundred day simple moving average of $26.27. BridgeBio Pharma has a 52 week low of $21.62 and a 52 week high of $41.04.

Wall Street Analysts Forecast Growth

A number of research firms have commented on BBIO. Bank of America lifted their target price on shares of BridgeBio Pharma from $42.00 to $45.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Scotiabank boosted their price target on BridgeBio Pharma from $45.00 to $48.00 and gave the company a “sector outperform” rating in a report on Monday, November 25th. Evercore ISI raised their price objective on BridgeBio Pharma from $45.00 to $50.00 and gave the stock an “outperform” rating in a research note on Monday, December 23rd. Leerink Partners cut their price objective on BridgeBio Pharma from $47.00 to $46.00 and set an “outperform” rating for the company in a research note on Thursday, October 17th. Finally, Oppenheimer began coverage on shares of BridgeBio Pharma in a research note on Thursday, October 3rd. They set a “market perform” rating on the stock. Two analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $48.08.

Insider Buying and Selling

In other BridgeBio Pharma news, CEO Neil Kumar sold 27,389 shares of the business’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $22.41, for a total value of $613,787.49. Following the sale, the chief executive officer now directly owns 4,897,443 shares of the company’s stock, valued at approximately $109,751,697.63. The trade was a 0.56 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Brian C. Stephenson sold 4,156 shares of the company’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $22.41, for a total transaction of $93,135.96. Following the completion of the transaction, the chief financial officer now owns 93,758 shares in the company, valued at approximately $2,101,116.78. The trade was a 4.24 % decrease in their position. The disclosure for this sale can be found here. 24.66% of the stock is owned by insiders.

Hedge Funds Weigh In On BridgeBio Pharma

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BBIO. Rhumbline Advisers raised its holdings in shares of BridgeBio Pharma by 19.5% during the 2nd quarter. Rhumbline Advisers now owns 221,403 shares of the company’s stock worth $5,608,000 after acquiring an additional 36,199 shares in the last quarter. Victory Capital Management Inc. lifted its position in BridgeBio Pharma by 9.9% during the second quarter. Victory Capital Management Inc. now owns 382,717 shares of the company’s stock valued at $9,694,000 after purchasing an additional 34,360 shares during the last quarter. Arizona State Retirement System grew its stake in shares of BridgeBio Pharma by 7.6% in the 2nd quarter. Arizona State Retirement System now owns 30,857 shares of the company’s stock worth $782,000 after buying an additional 2,171 shares in the last quarter. Daiwa Securities Group Inc. increased its holdings in shares of BridgeBio Pharma by 5,393.7% in the 2nd quarter. Daiwa Securities Group Inc. now owns 35,709 shares of the company’s stock worth $904,000 after buying an additional 35,059 shares during the last quarter. Finally, Headlands Technologies LLC purchased a new stake in shares of BridgeBio Pharma during the 2nd quarter valued at about $48,000. 99.85% of the stock is owned by institutional investors.

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.