BridgeBio Pharma (NASDAQ:BBIO) Sees Strong Trading Volume – Time to Buy?

BridgeBio Pharma, Inc. (NASDAQ:BBIO) shares saw an uptick in trading volume on Monday . 1,216,237 shares changed hands during trading, a decline of 13% from the previous session’s volume of 1,397,695 shares.The stock last traded at $30.19 and had previously closed at $29.08.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Bank of America boosted their price objective on shares of BridgeBio Pharma from $42.00 to $45.00 and gave the company a “buy” rating in a report on Monday, November 25th. Evercore ISI boosted their price target on BridgeBio Pharma from $45.00 to $50.00 and gave the company an “outperform” rating in a research note on Monday, December 23rd. HC Wainwright restated a “buy” rating and issued a $49.00 price objective on shares of BridgeBio Pharma in a research note on Monday, December 16th. Oppenheimer initiated coverage on BridgeBio Pharma in a research report on Thursday, October 3rd. They issued a “market perform” rating on the stock. Finally, Scotiabank increased their price target on shares of BridgeBio Pharma from $45.00 to $48.00 and gave the stock a “sector outperform” rating in a report on Monday, November 25th. Two investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $48.08.

BridgeBio Pharma Stock Performance

The firm’s 50 day moving average is $27.18 and its 200-day moving average is $26.35. The stock has a market capitalization of $6.73 billion, a price-to-earnings ratio of -14.77 and a beta of 1.05.

Insiders Place Their Bets

In other news, CEO Neil Kumar sold 27,389 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $22.41, for a total transaction of $613,787.49. Following the completion of the transaction, the chief executive officer now directly owns 4,897,443 shares of the company’s stock, valued at $109,751,697.63. This represents a 0.56 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Brian C. Stephenson sold 4,156 shares of the stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $22.41, for a total value of $93,135.96. Following the transaction, the chief financial officer now owns 93,758 shares in the company, valued at $2,101,116.78. This trade represents a 4.24 % decrease in their position. The disclosure for this sale can be found here. Insiders own 24.66% of the company’s stock.

Institutional Trading of BridgeBio Pharma

Institutional investors and hedge funds have recently modified their holdings of the stock. Headlands Technologies LLC acquired a new stake in BridgeBio Pharma in the 2nd quarter worth about $48,000. Values First Advisors Inc. purchased a new position in shares of BridgeBio Pharma in the third quarter valued at approximately $57,000. CWM LLC boosted its stake in shares of BridgeBio Pharma by 132.9% in the third quarter. CWM LLC now owns 3,442 shares of the company’s stock worth $88,000 after acquiring an additional 1,964 shares during the last quarter. Advisors Asset Management Inc. increased its position in shares of BridgeBio Pharma by 56.1% during the third quarter. Advisors Asset Management Inc. now owns 4,576 shares of the company’s stock worth $117,000 after purchasing an additional 1,645 shares in the last quarter. Finally, Amalgamated Bank lifted its holdings in BridgeBio Pharma by 24.7% in the 2nd quarter. Amalgamated Bank now owns 4,863 shares of the company’s stock valued at $123,000 after purchasing an additional 962 shares in the last quarter. Hedge funds and other 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.