BridgeBio Pharma (NASDAQ:BBIO) Trading Down 5.7%

BridgeBio Pharma, Inc. (NASDAQ:BBIO)’s share price was down 5.7% during trading on Friday . The stock traded as low as $26.67 and last traded at $26.75. Approximately 278,975 shares traded hands during trading, a decline of 84% from the average daily volume of 1,739,387 shares. The stock had previously closed at $28.36.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. BMO Capital Markets started coverage on shares of BridgeBio Pharma in a report on Wednesday, January 31st. They issued a “market perform” rating and a $37.00 price objective on the stock. Raymond James started coverage on BridgeBio Pharma in a report on Thursday, March 21st. They set an “outperform” rating and a $45.00 price target on the stock. HC Wainwright reiterated a “buy” rating and set a $47.00 price objective on shares of BridgeBio Pharma in a research report on Monday, March 4th. Mizuho lowered their target price on BridgeBio Pharma from $60.00 to $53.00 and set a “buy” rating on the stock in a research report on Tuesday, March 5th. Finally, Cantor Fitzgerald lifted their target price on 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 ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $45.62.

BridgeBio Pharma Trading Down 6.1 %

The firm has a market capitalization of $4.68 billion, a price-to-earnings ratio of -6.79 and a beta of 1.03. The stock has a fifty day moving average of $31.53 and a 200-day moving average of $31.77.

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

Insider Activity

In other news, Director Hannah Valantine sold 2,915 shares of the stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $37.97, for a total transaction of $110,682.55. Following the transaction, the director now owns 1,764 shares in the company, valued at approximately $66,979.08. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, Director Randal W. Scott sold 2,500 shares of the firm’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $34.00, for a total value of $85,000.00. Following the sale, the director now directly owns 6,500 shares of the company’s stock, valued at $221,000. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Hannah Valantine sold 2,915 shares of BridgeBio Pharma stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $37.97, for a total value of $110,682.55. Following the completion of the transaction, the director now owns 1,764 shares in the company, valued at $66,979.08. The disclosure for this sale can be found here. 28.52% of the stock is owned by corporate insiders.

Institutional Trading of BridgeBio Pharma

Several hedge funds have recently added to or reduced their stakes in BBIO. Vanguard Group Inc. raised its holdings in BridgeBio Pharma by 13.5% in the 4th quarter. Vanguard Group Inc. now owns 12,800,294 shares of the company’s stock valued at $516,748,000 after acquiring an additional 1,524,313 shares in the last quarter. Wellington Management Group LLP acquired a new stake in shares of BridgeBio Pharma in the third quarter valued at $37,434,000. Norges Bank acquired a new stake in BridgeBio Pharma in the 4th quarter valued at about $46,843,000. UBS Group AG raised its position in BridgeBio Pharma by 545.9% in the 4th quarter. UBS Group AG now owns 985,510 shares of the company’s stock worth $39,785,000 after purchasing an additional 832,940 shares during the last quarter. Finally, Lord Abbett & CO. LLC bought a new stake in shares of BridgeBio Pharma during the third quarter worth $20,949,000. Institutional investors own 99.85% of the company’s stock.

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.