BridgeBio Pharma Target of Unusually Large 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.

Insider Activity

In other news, CEO Neil Kumar sold 27,389 shares of the company’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $22.41, for a total transaction 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Brian C. Stephenson sold 4,156 shares of BridgeBio Pharma 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 sale, the chief financial officer now directly owns 93,758 shares in the company, valued at approximately $2,101,116.78. This represents a 4.24 % 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 Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Bfsg LLC grew its position in BridgeBio Pharma by 175.6% during the second quarter. Bfsg LLC now owns 1,240 shares of the company’s stock worth $31,000 after buying an additional 790 shares in the last quarter. Headlands Technologies LLC bought a new stake in shares of BridgeBio Pharma during the 2nd quarter valued at about $48,000. Values First Advisors Inc. purchased a new position in shares of BridgeBio Pharma during the third quarter worth about $57,000. CWM LLC increased its position in shares of BridgeBio Pharma by 132.9% in the third quarter. CWM LLC now owns 3,442 shares of the company’s stock worth $88,000 after purchasing an additional 1,964 shares during the last quarter. Finally, Advisors Asset Management Inc. increased its position in shares of BridgeBio Pharma by 56.1% in the third quarter. Advisors Asset Management Inc. now owns 4,576 shares of the company’s stock worth $117,000 after purchasing an additional 1,645 shares during the last quarter. 99.85% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Evercore ISI decreased their target price on BridgeBio Pharma from $50.00 to $45.00 and set an “outperform” rating on the stock in a report on Wednesday, August 7th. JPMorgan Chase & Co. decreased their price objective on shares of BridgeBio Pharma from $46.00 to $43.00 and set an “overweight” rating on the stock in a report on Wednesday, August 7th. Piper Sandler assumed coverage on shares of BridgeBio Pharma in a research note on Wednesday, September 4th. They set an “overweight” rating and a $46.00 target price for the company. Cantor Fitzgerald restated an “overweight” rating and set a $70.00 price objective on shares of BridgeBio Pharma in a research report on Monday, September 16th. Finally, Bank of America boosted their price objective on shares of BridgeBio Pharma from $42.00 to $45.00 and gave the company a “buy” rating in a report on Monday. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $48.21.

BridgeBio Pharma Stock Performance

NASDAQ:BBIO traded up $6.28 during trading hours on Monday, reaching $29.70. The stock had a trading volume of 8,001,476 shares, compared to its average volume of 1,881,713. BridgeBio Pharma has a 12-month low of $21.62 and a 12-month high of $44.32. The stock has a 50 day simple moving average of $24.96 and a 200 day simple moving average of $26.24. The stock has a market cap of $5.61 billion, a P/E ratio of -12.34 and a beta of 1.09.

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.