BridgeBio Pharma (NASDAQ:BBIO) Shares Gap Up to $26.19

BridgeBio Pharma, Inc. (NASDAQ:BBIO) gapped up prior to trading on Tuesday . The stock had previously closed at $26.19, but opened at $26.95. BridgeBio Pharma shares last traded at $27.31, with a volume of 289,857 shares.

Analysts Set New Price Targets

A number of research firms recently weighed in on BBIO. UBS Group dropped their price target on shares of BridgeBio Pharma from $51.00 to $47.00 and set a “buy” rating on the stock in a research report on Tuesday, May 28th. Piper Sandler began coverage on shares of BridgeBio Pharma in a research report on Wednesday, September 4th. They set an “overweight” rating and a $46.00 target price on the stock. Bank of America reaffirmed a “buy” rating and issued a $42.00 target price on shares of BridgeBio Pharma in a report on Wednesday, September 11th. HC Wainwright reaffirmed a “buy” rating and set a $43.00 price target on shares of BridgeBio Pharma in a research report on Monday. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $70.00 price objective on shares of BridgeBio Pharma in a research report on Monday. One equities research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $47.92.

BridgeBio Pharma Stock Performance

The firm has a market capitalization of $4.86 billion, a P/E ratio of -8.06 and a beta of 1.07. The stock has a 50 day moving average of $26.51 and a 200-day moving average of $27.23.

BridgeBio Pharma (NASDAQ:BBIO) last posted its quarterly earnings results on Thursday, August 1st. The company reported ($0.39) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.00) by $0.61. The business had revenue of $2.17 million during the quarter, compared to the consensus estimate of $3.96 million. The business’s revenue for the quarter was up 32.1% on a year-over-year basis. During the same period last year, the firm earned ($0.98) EPS. As a group, sell-side analysts expect that BridgeBio Pharma, Inc. will post -2.49 EPS for the current year.

Insider Transactions at BridgeBio Pharma

In related news, major shareholder Genetic Disorder L.P. Kkr sold 5,800,000 shares of the business’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $25.75, for a total transaction of $149,350,000.00. Following the sale, the insider now directly owns 25,260,971 shares in the company, valued at approximately $650,470,003.25. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, major shareholder Genetic Disorder L.P. Kkr sold 5,800,000 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $25.75, for a total transaction of $149,350,000.00. Following the completion of the transaction, the insider now owns 25,260,971 shares of the company’s stock, valued at $650,470,003.25. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Brian C. Stephenson sold 4,155 shares of the stock in a transaction that occurred on 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 owns 85,192 shares in the company, valued at $2,103,390.48. The disclosure for this sale can be found here. Insiders sold 5,831,544 shares of company stock valued at $150,128,821 over the last three months. Company insiders own 24.66% of the company’s stock.

Institutional Investors Weigh In On BridgeBio Pharma

Several large investors have recently added to or reduced their stakes in the business. Bfsg LLC increased its stake in BridgeBio Pharma by 175.6% in the 2nd quarter. Bfsg LLC now owns 1,240 shares of the company’s stock worth $31,000 after acquiring an additional 790 shares during the last quarter. YHB Investment Advisors Inc. bought a new position in shares of BridgeBio Pharma in the first quarter worth approximately $34,000. Headlands Technologies LLC purchased a new stake in BridgeBio Pharma in the second quarter valued at approximately $48,000. Quarry LP purchased a new stake in BridgeBio Pharma in the fourth quarter valued at approximately $50,000. Finally, EntryPoint Capital LLC bought a new stake in BridgeBio Pharma during the first quarter valued at approximately $117,000. Institutional investors own 99.85% of the company’s stock.

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.