BridgeBio Pharma (NASDAQ:BBIO) Trading Up 4.8%

BridgeBio Pharma, Inc. (NASDAQ:BBIO) shares shot up 4.8% on Wednesday . The company traded as high as $30.23 and last traded at $30.12. 1,648,112 shares changed hands during mid-day trading, a decline of 9% from the average session volume of 1,817,172 shares. The stock had previously closed at $28.74.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on BBIO shares. Evercore ISI reduced their price objective on BridgeBio Pharma from $50.00 to $45.00 and set an “outperform” rating for the company in a report on Wednesday, August 7th. Bank of America decreased their price objective on BridgeBio Pharma from $50.00 to $42.00 and set a “buy” rating for the company in a report on Tuesday, June 25th. Cantor Fitzgerald reiterated an “overweight” rating and set a $70.00 target price on shares of BridgeBio Pharma in a research report on Monday, July 1st. JPMorgan Chase & Co. reduced their target price on shares of BridgeBio Pharma from $46.00 to $43.00 and set an “overweight” rating for the company in a research note on Wednesday, August 7th. Finally, HC Wainwright restated a “buy” rating and set a $43.00 price target on shares of BridgeBio Pharma in a research note on Tuesday. One investment 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.com, the company has a consensus rating of “Moderate Buy” and an average target price of $47.92.

BridgeBio Pharma Stock Down 1.9 %

The company has a market cap of $5.74 billion, a PE ratio of -9.66 and a beta of 1.07. The company’s fifty day moving average is $26.08 and its 200-day moving average is $27.73.

BridgeBio Pharma (NASDAQ:BBIO) last issued its quarterly earnings data on Thursday, August 1st. The company reported ($0.39) EPS for the quarter, topping the consensus estimate of ($1.00) by $0.61. The firm had revenue of $2.17 million during the quarter, compared to the consensus estimate of $3.96 million. During the same period in the previous year, the firm earned ($0.98) EPS. The business’s revenue was up 32.1% on a year-over-year basis. Equities research analysts expect that BridgeBio Pharma, Inc. will post -2.46 EPS for the current fiscal year.

Insider Transactions at BridgeBio Pharma

In related news, CEO Neil Kumar sold 27,389 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $24.69, for a total transaction of $676,234.41. Following the completion of the sale, the chief executive officer now directly owns 4,897,443 shares in the company, valued at $120,917,867.67. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CFO Brian C. Stephenson sold 4,155 shares of the stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $24.69, for a total value of $102,586.95. Following the completion of the sale, the chief financial officer now directly owns 85,192 shares of the company’s stock, valued at approximately $2,103,390.48. The transaction 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 BridgeBio Pharma stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $24.69, for a total transaction of $676,234.41. Following the transaction, the chief executive officer now directly owns 4,897,443 shares in the company, valued at approximately $120,917,867.67. The disclosure for this sale can be found here. Company insiders own 24.66% of the company’s stock.

Institutional Trading of BridgeBio Pharma

Several institutional investors and hedge funds have recently modified their holdings of the company. Bfsg LLC boosted its holdings 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 buying an additional 790 shares during the period. YHB Investment Advisors Inc. purchased a new stake in BridgeBio Pharma during the 1st quarter valued at approximately $34,000. Headlands Technologies LLC bought a new position in shares of BridgeBio Pharma during the second quarter worth $48,000. Quarry LP bought a new stake in BridgeBio Pharma in the 4th quarter valued at $50,000. Finally, EntryPoint Capital LLC bought a new stake in shares of BridgeBio Pharma in the first quarter worth about $117,000. 99.85% of the stock is currently owned by institutional investors.

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.