BridgeBio Pharma (NASDAQ:BBIO) Stock Price Down 3.3%

BridgeBio Pharma, Inc. (NASDAQ:BBIO) traded down 3.3% during mid-day trading on Tuesday . The stock traded as low as $23.92 and last traded at $24.55. 489,393 shares changed hands during mid-day trading, a decline of 74% from the average session volume of 1,866,065 shares. The stock had previously closed at $25.40.

Analysts Set New Price Targets

Several research firms recently commented on BBIO. Piper Sandler assumed coverage on BridgeBio Pharma in a report on Wednesday, September 4th. They issued an “overweight” rating and a $46.00 target price on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $70.00 price target on shares of BridgeBio Pharma in a report on Monday, September 16th. HC Wainwright reaffirmed a “buy” rating and set a $43.00 price target on shares of BridgeBio Pharma in a report on Monday, September 16th. Evercore ISI decreased 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. Finally, UBS Group decreased 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. One investment analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $47.92.

BridgeBio Pharma Stock Performance

The company has a market capitalization of $4.71 billion, a PE ratio of -7.46 and a beta of 1.07. The company’s 50-day simple moving average is $26.45 and its 200-day simple moving average is $27.13.

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

Insider Activity

In other news, CEO Neil Kumar sold 27,389 shares of BridgeBio Pharma stock in a transaction dated 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 owns 4,897,443 shares of the company’s stock, valued at $120,917,867.67. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CEO Neil Kumar sold 27,389 shares of BridgeBio Pharma stock in a transaction dated 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 owns 4,897,443 shares of the company’s stock, valued at $120,917,867.67. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Brian C. Stephenson sold 4,155 shares of BridgeBio Pharma stock in a transaction dated Monday, August 19th. The shares were 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 approximately $2,103,390.48. The disclosure for this sale can be found here. Insiders have sold a total of 5,831,544 shares of company stock valued at $150,128,821 over the last quarter. Corporate insiders own 24.66% of the company’s stock.

Institutional Trading of BridgeBio Pharma

A number of institutional investors have recently added to or reduced their stakes in the stock. Profund Advisors LLC boosted its holdings in BridgeBio Pharma by 1.1% during the second quarter. Profund Advisors LLC now owns 51,029 shares of the company’s stock worth $1,293,000 after buying an additional 555 shares in the last quarter. American International Group Inc. raised its position in BridgeBio Pharma by 1.0% during the first quarter. American International Group Inc. now owns 57,491 shares of the company’s stock worth $1,778,000 after acquiring an additional 565 shares during the last quarter. Parkman Healthcare Partners LLC raised its position in BridgeBio Pharma by 0.7% during the fourth quarter. Parkman Healthcare Partners LLC now owns 100,734 shares of the company’s stock worth $4,067,000 after acquiring an additional 734 shares during the last quarter. Bfsg LLC raised its position in BridgeBio Pharma by 175.6% during the second 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. Finally, Assetmark Inc. raised its position in BridgeBio Pharma by 46.8% during the fourth quarter. Assetmark Inc. now owns 2,931 shares of the company’s stock worth $118,000 after acquiring an additional 935 shares during the last quarter. Hedge funds and other 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.