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

BridgeBio Pharma, Inc. (NASDAQ:BBIO) saw some unusual options trading activity on Monday. Stock traders acquired 20,013 call options on the stock. This represents an increase of approximately 520% compared to the average daily volume of 3,226 call options.

BridgeBio Pharma Stock Up 16.1 %

NASDAQ BBIO opened at $27.19 on Tuesday. The company has a market capitalization of $5.14 billion, a price-to-earnings ratio of -11.28 and a beta of 1.09. BridgeBio Pharma has a twelve month low of $21.62 and a twelve month high of $44.32. The stock has a fifty day simple moving average of $24.98 and a 200 day simple moving average of $26.23.

Insider Activity

In other BridgeBio Pharma news, CFO Brian C. Stephenson sold 4,156 shares of BridgeBio Pharma stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $22.41, for a total value of $93,135.96. Following the sale, the chief financial officer now directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Neil Kumar sold 27,389 shares of BridgeBio Pharma stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $22.41, for a total value of $613,787.49. Following the completion of the sale, the chief executive officer now directly owns 4,897,443 shares in the company, valued at approximately $109,751,697.63. This represents a 0.56 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,831,545 shares of company stock worth $150,056,923 over the last quarter. 24.66% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On BridgeBio Pharma

A number of institutional investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of BridgeBio Pharma by 3.3% during the 1st quarter. Vanguard Group Inc. now owns 13,222,126 shares of the company’s stock valued at $408,828,000 after purchasing an additional 421,832 shares in the last quarter. American International Group Inc. grew its position in shares of BridgeBio Pharma by 1.0% during the 1st quarter. American International Group Inc. now owns 57,491 shares of the company’s stock worth $1,778,000 after buying an additional 565 shares during the period. Price T Rowe Associates Inc. MD increased its stake in shares of BridgeBio Pharma by 22.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 803,956 shares of the company’s stock valued at $24,859,000 after acquiring an additional 145,594 shares in the last quarter. Janus Henderson Group PLC lifted its position in shares of BridgeBio Pharma by 189.7% during the 1st quarter. Janus Henderson Group PLC now owns 3,312,706 shares of the company’s stock valued at $102,402,000 after acquiring an additional 2,169,143 shares during the period. Finally, California State Teachers Retirement System boosted its stake in BridgeBio Pharma by 7.3% during the first quarter. California State Teachers Retirement System now owns 105,596 shares of the company’s stock worth $3,265,000 after acquiring an additional 7,153 shares in the last quarter. 99.85% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

BBIO has been the subject of a number of analyst reports. Scotiabank lifted their price objective on shares of BridgeBio Pharma from $45.00 to $48.00 and gave the company a “sector outperform” rating in a research report on Monday. Cantor Fitzgerald reiterated an “overweight” rating and set a $70.00 price target on shares of BridgeBio Pharma in a report on Monday, September 16th. JPMorgan Chase & Co. dropped their price objective on BridgeBio Pharma from $46.00 to $43.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 7th. Bank of America lifted their target price on BridgeBio Pharma from $42.00 to $45.00 and gave the stock a “buy” rating in a research note on Monday. Finally, HC Wainwright boosted their target price on BridgeBio Pharma from $43.00 to $49.00 and gave the stock a “buy” rating in a report on Monday. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $48.43.

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.