BridgeBio Pharma (NASDAQ:BBIO) Sees Unusually-High Trading Volume – What’s Next?

BridgeBio Pharma, Inc. (NASDAQ:BBIO) shares saw an uptick in trading volume on Monday . 5,411,575 shares were traded during trading, an increase of 98% from the previous session’s volume of 2,738,375 shares.The stock last traded at $65.9010 and had previously closed at $66.26.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Weiss Ratings reaffirmed a “sell (d)” rating on shares of BridgeBio Pharma in a research note on Friday, May 15th. Barclays reissued an “overweight” rating on shares of BridgeBio Pharma in a research note on Tuesday, March 10th. Leerink Partners reaffirmed an “outperform” rating and set a $98.00 price objective on shares of BridgeBio Pharma in a research report on Thursday, March 12th. Truist Financial upped their price objective on BridgeBio Pharma from $95.00 to $102.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. Finally, Citigroup assumed coverage on BridgeBio Pharma in a research report on Tuesday, May 19th. They set a “neutral” rating and a $82.00 price objective for the company. Twenty-two analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, BridgeBio Pharma presently has an average rating of “Moderate Buy” and an average price target of $88.90.

BridgeBio Pharma Stock Performance

The company has a market cap of $12.90 billion, a price-to-earnings ratio of -17.63 and a beta of 0.98. The firm has a fifty day moving average price of $71.07 and a 200 day moving average price of $72.12.

BridgeBio Pharma (NASDAQ:BBIO) last released its quarterly earnings data on Thursday, May 7th. The company reported ($0.84) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.70) by ($0.14). The firm had revenue of $194.52 million during the quarter, compared to the consensus estimate of $178.07 million. During the same period last year, the firm posted ($0.88) earnings per share. The firm’s revenue was up 66.8% on a year-over-year basis. On average, analysts expect that BridgeBio Pharma, Inc. will post -2.27 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Neil Kumar sold 26,103 shares of the firm’s stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $69.44, for a total value of $1,812,592.32. Following the completion of the sale, the chief executive officer directly owned 243,327 shares of the company’s stock, valued at $16,896,626.88. This trade represents a 9.69% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 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, April 30th. The stock was sold at an average price of $71.58, for a total value of $143,160.00. Following the sale, the chief accounting officer directly owned 134,115 shares of the company’s stock, valued at approximately $9,599,951.70. The trade was a 1.47% 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. Over the last 90 days, insiders sold 236,675 shares of company stock valued at $16,177,085. Insiders own 14.23% of the company’s stock.

Institutional Trading of BridgeBio Pharma

Hedge funds have recently added to or reduced their stakes in the company. Brooklands Fund Management Ltd bought a new position in BridgeBio Pharma during the 4th quarter worth $210,348,000. Price T Rowe Associates Inc. MD increased its stake in shares of BridgeBio Pharma by 144.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,828,746 shares of the company’s stock valued at $292,862,000 after purchasing an additional 2,261,181 shares during the last quarter. Janus Henderson Group PLC grew its position in BridgeBio Pharma by 25.8% during the 4th quarter. Janus Henderson Group PLC now owns 11,000,457 shares of the company’s stock worth $841,349,000 after acquiring an additional 2,259,378 shares during the last quarter. Norges Bank bought a new stake in BridgeBio Pharma during the 4th quarter worth $116,802,000. Finally, Wellington Management Group LLP grew its position in BridgeBio Pharma by 130.4% during the 4th quarter. Wellington Management Group LLP now owns 2,348,731 shares of the company’s stock worth $179,654,000 after acquiring an additional 1,329,537 shares during the last quarter. 99.85% of the stock is owned by institutional investors and hedge funds.

About BridgeBio Pharma

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.