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

BridgeBio Pharma, Inc. (NASDAQ:BBIO) was the recipient of unusually large options trading activity on Monday. Stock traders acquired 13,167 call options on the company. This represents an increase of 210% compared to the typical daily volume of 4,241 call options.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Leerink Partners lowered their price target on BridgeBio Pharma from $47.00 to $46.00 and set an “outperform” rating for the company in a report on Thursday, October 17th. Scotiabank increased their price objective on BridgeBio Pharma from $45.00 to $48.00 and gave the company a “sector outperform” rating in a report on Monday, November 25th. Cantor Fitzgerald reissued an “overweight” rating and issued a $70.00 price objective on shares of BridgeBio Pharma in a report on Monday, September 16th. Bank of America increased their price objective on BridgeBio Pharma from $42.00 to $45.00 and gave the company a “buy” rating in a report on Monday, November 25th. Finally, HC Wainwright reissued a “buy” rating and issued a $49.00 price objective on shares of BridgeBio Pharma in a report on Monday, December 16th. Two equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $48.08.

Insider Buying and Selling

In related news, CEO Neil Kumar sold 27,389 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $22.41, for a total value of $613,787.49. Following the completion of the transaction, the chief executive officer now directly owns 4,897,443 shares of the company’s stock, valued at $109,751,697.63. This represents a 0.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Brian C. Stephenson sold 4,156 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now directly owns 93,758 shares of the company’s stock, valued at $2,101,116.78. This trade represents a 4.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 24.66% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Janus Henderson Group PLC raised its position in BridgeBio Pharma by 11.7% in the third quarter. Janus Henderson Group PLC now owns 4,818,012 shares of the company’s stock worth $122,658,000 after acquiring an additional 505,481 shares in the last quarter. Frazier Life Sciences Management L.P. raised its position in BridgeBio Pharma by 3.5% in the third quarter. Frazier Life Sciences Management L.P. now owns 3,760,457 shares of the company’s stock worth $95,741,000 after acquiring an additional 127,853 shares in the last quarter. Geode Capital Management LLC raised its position in BridgeBio Pharma by 3.8% in the third quarter. Geode Capital Management LLC now owns 3,413,949 shares of the company’s stock worth $86,936,000 after acquiring an additional 123,540 shares in the last quarter. Ensign Peak Advisors Inc raised its position in BridgeBio Pharma by 44.5% in the second quarter. Ensign Peak Advisors Inc now owns 1,646,202 shares of the company’s stock worth $41,698,000 after acquiring an additional 506,845 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its position in BridgeBio Pharma by 40.5% in the second quarter. The Manufacturers Life Insurance Company now owns 1,534,972 shares of the company’s stock worth $38,881,000 after acquiring an additional 442,248 shares in the last quarter. Hedge funds and other institutional investors own 99.85% of the company’s stock.

BridgeBio Pharma Stock Up 16.0 %

Shares of NASDAQ BBIO traded up $4.65 during mid-day trading on Monday, hitting $33.73. 5,793,306 shares of the company were exchanged, compared to its average volume of 2,080,532. The stock has a 50 day simple moving average of $26.81 and a 200-day simple moving average of $26.21. BridgeBio Pharma has a 1-year low of $21.62 and a 1-year high of $41.04. The firm has a market cap of $6.37 billion, a price-to-earnings ratio of -14.00 and a beta of 1.05.

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.