BridgeBio Pharma (NASDAQ:BBIO) Sees Large Volume Increase – Still a Buy?

BridgeBio Pharma, Inc. (NASDAQ:BBIO) saw unusually-high trading volume on Friday . Approximately 3,621,276 shares traded hands during mid-day trading, an increase of 15% from the previous session’s volume of 3,159,396 shares.The stock last traded at $76.29 and had previously closed at $76.26.

Analyst Ratings Changes

Several research analysts have commented on the stock. JPMorgan Chase & Co. lifted their price objective on shares of BridgeBio Pharma from $76.00 to $77.00 and gave the stock an “overweight” rating in a research note on Friday, November 7th. HC Wainwright reissued a “buy” rating and set a $90.00 price target on shares of BridgeBio Pharma in a research report on Monday, November 3rd. Evercore ISI reissued an “outperform” rating on shares of BridgeBio Pharma in a research note on Monday, October 27th. Piper Sandler increased their price target on shares of BridgeBio Pharma from $93.00 to $98.00 and gave the company an “overweight” rating in a research report on Thursday, October 30th. Finally, Morgan Stanley started coverage on BridgeBio Pharma in a research report on Tuesday, January 6th. They issued an “overweight” rating and a $96.00 price objective for the company. Twenty-two analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $78.85.

BridgeBio Pharma Stock Performance

The company has a 50 day moving average of $72.68 and a 200 day moving average of $58.67. The stock has a market capitalization of $15.01 billion, a price-to-earnings ratio of -18.59 and a beta of 1.17.

BridgeBio Pharma (NASDAQ:BBIO) last released its earnings results on Wednesday, October 29th. The company reported ($0.95) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.88) by ($0.07). The firm had revenue of $120.70 million for the quarter, compared to analyst estimates of $107.71 million. The firm’s quarterly revenue was up 4318.0% on a year-over-year basis. During the same period last year, the firm earned ($0.86) earnings per share. On average, equities analysts predict that BridgeBio Pharma, Inc. will post -3.67 EPS for the current fiscal year.

Insider Transactions at BridgeBio Pharma

In other BridgeBio Pharma news, Director Randal W. Scott sold 10,000 shares of the firm’s stock in a transaction on Monday, November 17th. The stock was sold at an average price of $66.65, for a total value of $666,500.00. Following the completion of the sale, the director directly owned 11,589 shares of the company’s stock, valued at $772,406.85. This trade represents a 46.32% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Neil Kumar sold 40,000 shares of BridgeBio Pharma stock in a transaction on Thursday, January 8th. The stock was sold at an average price of $73.97, for a total value of $2,958,800.00. Following the transaction, the chief executive officer owned 735,686 shares in the company, valued at approximately $54,418,693.42. This represents a 5.16% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 587,215 shares of company stock valued at $39,569,101. 18.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On BridgeBio Pharma

Institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in BridgeBio Pharma by 2.1% in the 3rd quarter. Vanguard Group Inc. now owns 16,832,059 shares of the company’s stock valued at $874,257,000 after purchasing an additional 347,074 shares during the last quarter. Farallon Capital Management LLC raised its position in shares of BridgeBio Pharma by 3.7% during the 3rd quarter. Farallon Capital Management LLC now owns 8,192,000 shares of the company’s stock valued at $425,492,000 after buying an additional 292,000 shares during the period. Aisling Capital Management LP lifted its holdings in BridgeBio Pharma by 0.4% in the third quarter. Aisling Capital Management LP now owns 6,089,611 shares of the company’s stock valued at $316,294,000 after acquiring an additional 21,486 shares during the last quarter. Invesco Ltd. lifted its holdings in BridgeBio Pharma by 40.3% in the third quarter. Invesco Ltd. now owns 3,928,657 shares of the company’s stock valued at $204,054,000 after acquiring an additional 1,127,592 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in BridgeBio Pharma by 5.1% in the second quarter. Geode Capital Management LLC now owns 3,681,580 shares of the company’s stock worth $158,991,000 after acquiring an additional 178,686 shares during the period. 99.85% of the stock is owned by hedge funds and other institutional investors.

BridgeBio Pharma Company Profile

BridgeBio Pharma, Inc is a clinical-stage biopharmaceutical company headquartered in Palo Alto, California. Founded in 2015 by Neil Kumar, the company is dedicated to discovering, developing and delivering transformative medicines for patients with genetic diseases and cancers. BridgeBio operates an integrated model that spans target identification, preclinical research, clinical development and commercialization, aiming to streamline the process from bench to bedside.

BridgeBio’s pipeline comprises multiple therapeutic modalities, including small molecules, biologics and genetic therapies.