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

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on BBIO shares. Piper Sandler started coverage on BridgeBio Pharma in a research report on Wednesday, September 4th. They set an “overweight” rating and a $46.00 price target on the stock. HC Wainwright restated a “buy” rating and issued a $43.00 price target on shares of BridgeBio Pharma in a research note on Monday, September 16th. UBS Group reduced their target price on BridgeBio Pharma from $51.00 to $47.00 and set a “buy” rating for the company in a research note on Tuesday, May 28th. Evercore ISI dropped 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, Bank of America reaffirmed a “buy” rating and issued a $42.00 price objective on shares of BridgeBio Pharma in a report on Wednesday, September 11th. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $47.92.

BridgeBio Pharma Price Performance

BBIO stock traded down $1.32 during midday trading on Tuesday, reaching $24.08. 1,875,276 shares of the stock were exchanged, compared to its average volume of 1,873,597. The stock has a market capitalization of $4.51 billion, a PE ratio of -7.46 and a beta of 1.07. BridgeBio Pharma has a 52 week low of $21.62 and a 52 week high of $44.32. The company has a fifty day moving average price of $26.45 and a 200 day moving average price of $27.13.

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

Insider Activity at BridgeBio Pharma

In other BridgeBio Pharma news, CFO Brian C. Stephenson sold 4,155 shares of the business’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $24.69, for a total value of $102,586.95. Following the transaction, the chief financial officer now owns 85,192 shares of the company’s stock, valued at $2,103,390.48. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CFO Brian C. Stephenson sold 4,155 shares of the company’s stock in a transaction 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 transaction, the chief financial officer now owns 85,192 shares of the company’s stock, valued at $2,103,390.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Neil Kumar sold 27,389 shares of the company’s 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 completion of the sale, the chief executive officer now owns 4,897,443 shares of the company’s stock, valued at approximately $120,917,867.67. 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 in the last 90 days. 24.66% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On BridgeBio Pharma

A number of hedge funds and other institutional investors have recently bought and sold shares of BBIO. Profund Advisors LLC grew its position in shares of BridgeBio Pharma by 1.1% in the 2nd quarter. Profund Advisors LLC now owns 51,029 shares of the company’s stock valued at $1,293,000 after buying an additional 555 shares during the last quarter. American International Group Inc. grew its position in shares of BridgeBio Pharma by 1.0% in the 1st quarter. American International Group Inc. now owns 57,491 shares of the company’s stock valued at $1,778,000 after buying an additional 565 shares during the last quarter. Parkman Healthcare Partners LLC grew its position in shares of BridgeBio Pharma by 0.7% in the 4th quarter. Parkman Healthcare Partners LLC now owns 100,734 shares of the company’s stock valued at $4,067,000 after buying an additional 734 shares during the last quarter. Bfsg LLC grew its position in shares of BridgeBio Pharma by 175.6% in the 2nd quarter. Bfsg LLC now owns 1,240 shares of the company’s stock valued at $31,000 after buying an additional 790 shares during the last quarter. Finally, Assetmark Inc. grew its position in shares of BridgeBio Pharma by 46.8% in the 4th quarter. Assetmark Inc. now owns 2,931 shares of the company’s stock valued at $118,000 after buying an additional 935 shares during the last quarter. 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.