BridgeBio Pharma (NASDAQ:BBIO) Sees Strong Trading Volume

Shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) saw strong trading volume on Tuesday . 1,858,691 shares traded hands during trading, an increase of 4% from the previous session’s volume of 1,792,094 shares.The stock last traded at $30.13 and had previously closed at $27.85.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Evercore ISI cut their price objective on shares of BridgeBio Pharma from $50.00 to $45.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 7th. HC Wainwright restated a “buy” rating and issued a $43.00 price target on shares of BridgeBio Pharma in a report on Tuesday. Cantor Fitzgerald restated an “overweight” rating and issued a $70.00 price target on shares of BridgeBio Pharma in a report on Monday, July 1st. UBS Group cut their price target on shares of BridgeBio Pharma from $51.00 to $47.00 and set a “buy” rating on the stock in a report on Tuesday, May 28th. Finally, JPMorgan Chase & Co. cut their price target on shares of BridgeBio Pharma from $46.00 to $43.00 and set an “overweight” rating on the stock in a report on Wednesday, August 7th. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $48.09.

BridgeBio Pharma Stock Up 1.5 %

The company has a market capitalization of $5.32 billion, a price-to-earnings ratio of -9.43 and a beta of 1.06. The company’s 50 day simple moving average is $25.70 and its two-hundred day simple moving average is $27.75.

BridgeBio Pharma (NASDAQ:BBIO) last posted its quarterly earnings results on Thursday, August 1st. The company reported ($0.39) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.00) by $0.61. The company had revenue of $2.17 million during the quarter, compared to analysts’ expectations of $3.96 million. The company’s quarterly revenue was up 32.1% on a year-over-year basis. During the same period in the prior year, the business posted ($0.98) EPS. Analysts anticipate that BridgeBio Pharma, Inc. will post -2.46 EPS for the current year.

Insider Buying and Selling

In related news, CFO Brian C. Stephenson sold 4,155 shares of the firm’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $24.69, for a total transaction of $102,586.95. Following the completion of the transaction, the chief financial officer now owns 85,192 shares of the company’s stock, valued at $2,103,390.48. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other BridgeBio Pharma news, CEO Neil Kumar sold 27,389 shares of BridgeBio Pharma stock in a transaction on Monday, August 19th. The shares were sold at an average price of $24.69, for a total value of $676,234.41. Following the completion of the transaction, the chief executive officer now owns 4,897,443 shares of the company’s stock, valued at $120,917,867.67. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Brian C. Stephenson sold 4,155 shares of BridgeBio Pharma stock in a transaction on Monday, August 19th. The shares were sold at an average price of $24.69, for a total transaction of $102,586.95. Following the completion of the transaction, the chief financial officer now directly owns 85,192 shares of the company’s stock, valued at approximately $2,103,390.48. The disclosure for this sale can be found here. 24.66% of the stock is currently owned by corporate insiders.

Institutional Trading of BridgeBio Pharma

Several institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its position in shares of BridgeBio Pharma by 3.3% in the first quarter. Vanguard Group Inc. now owns 13,222,126 shares of the company’s stock valued at $408,828,000 after purchasing an additional 421,832 shares during the period. Frazier Life Sciences Management L.P. grew its position in shares of BridgeBio Pharma by 6.4% in the second quarter. Frazier Life Sciences Management L.P. now owns 3,632,604 shares of the company’s stock valued at $92,014,000 after purchasing an additional 217,000 shares during the period. Janus Henderson Group PLC boosted its position in BridgeBio Pharma by 189.7% during the first quarter. Janus Henderson Group PLC now owns 3,312,706 shares of the company’s stock worth $102,402,000 after acquiring an additional 2,169,143 shares during the last quarter. Capital Research Global Investors boosted its position in BridgeBio Pharma by 101.1% during the first quarter. Capital Research Global Investors now owns 2,212,085 shares of the company’s stock worth $68,398,000 after acquiring an additional 1,111,975 shares during the last quarter. Finally, Ensign Peak Advisors Inc boosted its position in BridgeBio Pharma by 44.5% during the second quarter. Ensign Peak Advisors Inc now owns 1,646,202 shares of the company’s stock worth $41,698,000 after acquiring an additional 506,845 shares during the last quarter. Institutional investors and hedge funds 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.