BridgeBio Pharma, Inc. (NASDAQ:BBIO) Short Interest Update

BridgeBio Pharma, Inc. (NASDAQ:BBIO) was the target of a significant increase in short interest in the month of September. As of September 15th, there was short interest totalling 19,610,000 shares, an increase of 10.7% from the August 31st total of 17,710,000 shares. Based on an average daily volume of 2,200,000 shares, the days-to-cover ratio is presently 8.9 days. Currently, 13.4% of the company’s stock are short sold.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. Cantor Fitzgerald restated an “overweight” rating and set a $70.00 target price on shares of BridgeBio Pharma in a research note on Monday, September 16th. HC Wainwright restated a “buy” rating and set a $43.00 price objective on shares of BridgeBio Pharma in a research report on Monday. JPMorgan Chase & Co. dropped their target price on shares of BridgeBio Pharma from $46.00 to $43.00 and set an “overweight” rating for the company in a report on Wednesday, August 7th. Piper Sandler began coverage on BridgeBio Pharma in a research note on Wednesday, September 4th. They issued an “overweight” rating and a $46.00 price target for the company. Finally, Evercore ISI reduced their price target on shares of BridgeBio Pharma from $50.00 to $45.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 7th. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $47.92.

BridgeBio Pharma Stock Performance

NASDAQ:BBIO opened at $25.46 on Tuesday. The firm has a 50-day simple moving average of $26.22 and a 200-day simple moving average of $27.00. BridgeBio Pharma has a one year low of $21.62 and a one year high of $44.32. The firm has a market cap of $4.76 billion, a P/E ratio of -7.91 and a beta of 1.07.

BridgeBio Pharma (NASDAQ:BBIO) last issued its quarterly earnings data on Thursday, August 1st. The company reported ($0.39) EPS for the quarter, topping analysts’ consensus estimates of ($1.00) by $0.61. The business had revenue of $2.17 million during the quarter, compared to the consensus estimate of $3.96 million. The business’s quarterly revenue was up 32.1% on a year-over-year basis. During the same period last year, the firm earned ($0.98) EPS. On average, research analysts predict that BridgeBio Pharma will post -2.54 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Brian C. Stephenson sold 4,155 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 $102,586.95. Following the completion of the transaction, the chief financial officer now directly owns 85,192 shares in the company, valued at $2,103,390.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Brian C. Stephenson sold 4,155 shares of the firm’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 completion of the transaction, the chief financial officer now directly owns 85,192 shares in the company, valued at $2,103,390.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Genetic Disorder L.P. Kkr sold 5,800,000 shares of BridgeBio Pharma stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $25.75, for a total value of $149,350,000.00. Following the completion of the transaction, the insider now directly owns 25,260,971 shares of the company’s stock, valued at approximately $650,470,003.25. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,831,544 shares of company stock worth $150,128,821. 24.66% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On BridgeBio Pharma

Several hedge funds have recently added to or reduced their stakes in the business. Wellington Management Group LLP boosted its stake in shares of BridgeBio Pharma by 5.3% in the fourth quarter. Wellington Management Group LLP now owns 1,495,114 shares of the company’s stock worth $60,358,000 after buying an additional 75,564 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in BridgeBio Pharma by 22.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 803,956 shares of the company’s stock worth $24,859,000 after purchasing an additional 145,594 shares in the last quarter. Vanguard Group Inc. increased its holdings in BridgeBio Pharma by 3.3% in the 1st quarter. Vanguard Group Inc. now owns 13,222,126 shares of the company’s stock worth $408,828,000 after acquiring an additional 421,832 shares in the last quarter. ADAR1 Capital Management LLC purchased a new position in BridgeBio Pharma in the 4th quarter valued at about $7,474,000. Finally, Comerica Bank boosted its holdings in BridgeBio Pharma by 3,013.5% in the 1st quarter. Comerica Bank now owns 38,514 shares of the company’s stock worth $1,191,000 after buying an additional 37,277 shares during the last quarter. 99.85% of the stock is owned by hedge funds and other institutional investors.

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.