Stock Traders Purchase High Volume of Call Options on BridgeBio Pharma (NASDAQ:BBIO)

BridgeBio Pharma, Inc. (NASDAQ:BBIO) saw unusually large options trading activity on Monday. Stock investors acquired 8,235 call options on the company. This is an increase of approximately 88% compared to the average daily volume of 4,371 call options.

Wall Street Analyst Weigh In

A number of research firms have weighed in on BBIO. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $95.00 target price on shares of BridgeBio Pharma in a research note on Friday, February 21st. Evercore ISI increased their target price on BridgeBio Pharma from $45.00 to $50.00 and gave the company an “outperform” rating in a research report on Monday, December 23rd. Scotiabank lifted their price target on BridgeBio Pharma from $49.00 to $52.00 and gave the company a “sector outperform” rating in a research note on Friday, February 21st. JPMorgan Chase & Co. upped their price target on shares of BridgeBio Pharma from $44.00 to $50.00 and gave the company an “overweight” rating in a research report on Monday, March 24th. Finally, Redburn Atlantic began coverage on shares of BridgeBio Pharma in a research note on Monday. They issued a “buy” rating and a $50.00 price objective on the stock. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $52.64.

Insider Transactions at BridgeBio Pharma

In other BridgeBio Pharma news, major shareholder Genetic Disorder L.P. Kkr sold 6,000,000 shares of the business’s stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $32.96, for a total transaction of $197,760,000.00. Following the completion of the transaction, the insider now owns 19,260,971 shares of the company’s stock, valued at approximately $634,841,604.16. The trade was a 23.75 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Brian C. Stephenson sold 68,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $36.29, for a total transaction of $2,467,720.00. Following the completion of the sale, the chief financial officer now owns 93,758 shares in the company, valued at approximately $3,402,477.82. The trade was a 42.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 9,654,739 shares of company stock valued at $325,937,151. Company insiders own 24.66% of the company’s stock.

Institutional Trading of BridgeBio Pharma

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BBIO. Steward Partners Investment Advisory LLC increased its holdings in shares of BridgeBio Pharma by 85.8% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,022 shares of the company’s stock valued at $28,000 after acquiring an additional 472 shares in the last quarter. Itau Unibanco Holding S.A. bought a new position in shares of BridgeBio Pharma in the 4th quarter worth $41,000. Sterling Capital Management LLC grew its position in BridgeBio Pharma by 554.6% in the 4th quarter. Sterling Capital Management LLC now owns 1,787 shares of the company’s stock valued at $49,000 after purchasing an additional 1,514 shares during the period. GF Fund Management CO. LTD. bought a new stake in BridgeBio Pharma during the 4th quarter valued at $109,000. Finally, Avanza Fonder AB acquired a new position in BridgeBio Pharma during the fourth quarter worth $181,000. 99.85% of the stock is owned by institutional investors.

BridgeBio Pharma Stock Down 1.5 %

Shares of BBIO stock opened at $34.57 on Tuesday. BridgeBio Pharma has a 52 week low of $21.62 and a 52 week high of $39.47. The firm has a 50 day moving average of $34.28 and a 200-day moving average of $29.35. The company has a market cap of $6.57 billion, a price-to-earnings ratio of -12.13 and a beta of 1.07.

BridgeBio Pharma (NASDAQ:BBIO) last posted its quarterly earnings results on Thursday, February 20th. The company reported ($1.31) EPS for the quarter, missing analysts’ consensus estimates of ($1.09) by ($0.22). The business had revenue of $5.88 million for the quarter, compared to analyst estimates of $4.04 million. Analysts anticipate that BridgeBio Pharma will post -3.67 earnings per share for the current year.

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.