BridgeBio Pharma, Inc. (NASDAQ:BBIO) Short Interest Up 5.5% in April

BridgeBio Pharma, Inc. (NASDAQ:BBIO) saw a large increase in short interest in the month of April. As of April 15th, there was short interest totalling 15,070,000 shares, an increase of 5.5% from the March 31st total of 14,280,000 shares. Currently, 10.9% of the shares of the stock are short sold. Based on an average trading volume of 1,690,000 shares, the short-interest ratio is currently 8.9 days.

Insider Transactions at BridgeBio Pharma

In other news, Director Randal W. Scott sold 2,500 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $34.00, for a total transaction of $85,000.00. Following the completion of the sale, the director now owns 6,500 shares of the company’s stock, valued at approximately $221,000. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 28.52% of the stock is currently owned by insiders.

Institutional Investors Weigh In On BridgeBio Pharma

Several large investors have recently modified their holdings of BBIO. YHB Investment Advisors Inc. acquired a new stake in shares of BridgeBio Pharma during the first quarter worth $34,000. Quarry LP bought a new position in BridgeBio Pharma during the fourth quarter worth $50,000. Assetmark Inc. bought a new position in BridgeBio Pharma during the third quarter worth $53,000. China Universal Asset Management Co. Ltd. boosted its stake in BridgeBio Pharma by 98.2% during the third quarter. China Universal Asset Management Co. Ltd. now owns 4,171 shares of the company’s stock worth $110,000 after acquiring an additional 2,067 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new position in BridgeBio Pharma during the third quarter worth $132,000. 99.85% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently commented on BBIO shares. Mizuho dropped their price objective on shares of BridgeBio Pharma from $60.00 to $53.00 and set a “buy” rating for the company in a research note on Tuesday, March 5th. Citigroup increased their price objective on shares of BridgeBio Pharma from $42.00 to $46.00 and gave the company a “buy” rating in a research note on Friday, February 23rd. HC Wainwright reissued a “buy” rating and issued a $47.00 price objective on shares of BridgeBio Pharma in a research note on Monday, March 4th. Raymond James started coverage on shares of BridgeBio Pharma in a research note on Thursday, March 21st. They issued an “outperform” rating and a $45.00 price objective for the company. Finally, Cantor Fitzgerald increased their price objective on shares of BridgeBio Pharma from $60.00 to $70.00 and gave the company an “overweight” rating in a research note on Tuesday, March 19th. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $47.82.

BridgeBio Pharma Stock Performance

Shares of NASDAQ BBIO opened at $25.62 on Wednesday. BridgeBio Pharma has a 52-week low of $12.75 and a 52-week high of $44.32. The firm has a 50 day moving average price of $28.98 and a two-hundred day moving average price of $31.80. The stock has a market cap of $4.79 billion, a P/E ratio of -6.50 and a beta of 1.03.

BridgeBio Pharma (NASDAQ:BBIO) last posted its quarterly earnings data on Thursday, February 22nd. The company reported ($0.96) earnings per share for the quarter, missing the consensus estimate of ($0.87) by ($0.09). The firm had revenue of $1.74 million for the quarter, compared to the consensus estimate of $4.78 million. During the same period in the previous year, the business posted ($0.92) EPS. The firm’s revenue for the quarter was down 8.4% compared to the same quarter last year. Analysts predict that BridgeBio Pharma will post -3.09 earnings per share for the current fiscal year.

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.