BridgeBio Pharma Sees Unusually High Options Volume (NASDAQ:BBIO)

BridgeBio Pharma, Inc. (NASDAQ:BBIO) was the recipient of unusually large options trading activity on Tuesday. Stock traders bought 9,739 put options on the company. This is an increase of approximately 584% compared to the average volume of 1,424 put options.

Insider Activity at BridgeBio Pharma

In other BridgeBio Pharma news, Director Hannah Valantine sold 2,808 shares of the stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $68.00, for a total value of $190,944.00. Following the completion of the transaction, the director directly owned 11,455 shares of the company’s stock, valued at approximately $778,940. This trade represents a 19.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Maricel Apuli sold 2,000 shares of BridgeBio Pharma stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $80.06, for a total transaction of $160,120.00. Following the sale, the chief accounting officer owned 127,401 shares of the company’s stock, valued at approximately $10,199,724.06. The trade was a 1.55% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 257,103 shares of company stock valued at $21,579,211 in the last ninety days. Company insiders own 14.23% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. Silvant Capital Management LLC purchased a new stake in BridgeBio Pharma during the second quarter worth approximately $28,000. Allworth Financial LP purchased a new stake in BridgeBio Pharma during the 2nd quarter worth $31,000. Cary Street Partners Investment Advisory LLC boosted its position in BridgeBio Pharma by 861.0% during the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 567 shares of the company’s stock worth $43,000 after purchasing an additional 508 shares during the period. Eurizon Capital SGR S.p.A. acquired a new stake in BridgeBio Pharma in the 4th quarter valued at $44,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in BridgeBio Pharma in the second quarter valued at about $44,000. Hedge funds and other institutional investors own 99.85% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on BBIO shares. UBS Group reiterated a “buy” rating on shares of BridgeBio Pharma in a research report on Wednesday, September 2nd. Truist Financial boosted their price objective on shares of BridgeBio Pharma from $102.00 to $107.00 and gave the company a “buy” rating in a research report on Wednesday, August 12th. Weiss Ratings raised shares of BridgeBio Pharma from a “sell (d-)” rating to a “sell (d)” rating in a research note on Thursday, September 10th. JPMorgan Chase & Co. increased their price target on BridgeBio Pharma from $100.00 to $111.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 12th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $120.00 price objective on shares of BridgeBio Pharma in a research report on Thursday, September 10th. Twenty analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $102.61.

BridgeBio Pharma Trading Down 0.1%

Shares of BBIO opened at $68.30 on Thursday. BridgeBio Pharma has a twelve month low of $48.78 and a twelve month high of $93.42. The firm has a market capitalization of $13.35 billion, a P/E ratio of -19.13 and a beta of 0.97. The stock’s fifty day simple moving average is $80.15 and its 200 day simple moving average is $73.76.

BridgeBio Pharma (NASDAQ:BBIO) last announced its quarterly earnings results on Monday, August 10th. The company reported ($0.78) EPS for the quarter, missing the consensus estimate of ($0.58) by ($0.20). The business had revenue of $243.68 million during the quarter, compared to the consensus estimate of $220.91 million. BridgeBio Pharma’s revenue was up 120.4% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.95) EPS. Sell-side analysts predict that BridgeBio Pharma will post -2.65 earnings per share for the current year.

BridgeBio Pharma Company Profile

BridgeBio Pharma, Inc is a biopharmaceutical company focused on discovering, developing and delivering medicines for patients with genetically driven diseases and cancers. Founded in 2015, the company operates through a group of subsidiary biotechnology businesses, each generally focused on a specific disease area or therapeutic program.

BridgeBio’s research and development activities span rare diseases, genetically defined cancers, cardiovascular conditions and other serious disorders.