BridgeBio Pharma (NASDAQ:BBIO) Stock Price Down 4.6% – Should You Sell?

by · The Cerbat Gem

Shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO – Get Free Report) dropped 4.6% on Wednesday . The stock traded as low as $23.55 and last traded at $23.60. Approximately 1,468,816 shares changed hands during trading, a decline of 22% from the average daily volume of 1,872,254 shares. The stock had previously closed at $24.73.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. JPMorgan Chase & Co. dropped their price target on shares of BridgeBio Pharma from $46.00 to $43.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 7th. Piper Sandler began coverage on shares of BridgeBio Pharma in a report on Wednesday, September 4th. They issued an “overweight” rating and a $46.00 target price on the stock. Bank of America reiterated a “buy” rating and set a $42.00 price objective on shares of BridgeBio Pharma in a research report on Wednesday, September 11th. Cantor Fitzgerald restated an “overweight” rating and issued a $70.00 target price on shares of BridgeBio Pharma in a report on Monday, September 16th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $43.00 target price on shares of BridgeBio Pharma in a report on Monday, September 30th. Two equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $47.92.

View Our Latest Research Report on BridgeBio Pharma

BridgeBio Pharma Trading Up 3.8 %

The business’s 50-day simple moving average is $25.95 and its 200-day simple moving average is $26.82. The company has a market cap of $4.87 billion, a PE ratio of -9.49 and a beta of 1.08.

BridgeBio Pharma (NASDAQ:BBIO – Get Free Report) last released its quarterly earnings data on Thursday, August 1st. The company reported ($0.39) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.00) by $0.61. The firm had revenue of $2.17 million for the quarter, compared to analyst estimates of $3.96 million. During the same period in the previous year, the business posted ($0.98) EPS. BridgeBio Pharma’s revenue for the quarter was up 32.1% on a year-over-year basis. On average, research analysts predict that BridgeBio Pharma, Inc. will post -2.56 earnings per share for the current fiscal year.

Insider Activity at BridgeBio Pharma

In related news, CEO Neil Kumar sold 27,389 shares of the company’s 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 sale, the chief executive officer now directly owns 4,897,443 shares in the company, valued at approximately $120,917,867.67. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CFO Brian C. Stephenson sold 4,155 shares of the business’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $24.69, for a total value of $102,586.95. Following the completion of the sale, the chief financial officer now directly owns 85,192 shares in the company, valued at approximately $2,103,390.48. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Neil Kumar sold 27,389 shares of the company’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $24.69, for a total transaction of $676,234.41. Following the sale, the chief executive officer now directly owns 4,897,443 shares of the company’s stock, valued at approximately $120,917,867.67. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,831,544 shares of company stock valued at $150,128,821. 24.66% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On BridgeBio Pharma

A number of institutional investors have recently made changes to their positions in the business. Boone Capital Management LLC raised its position in shares of BridgeBio Pharma by 40.7% during the fourth quarter. Boone Capital Management LLC now owns 440,845 shares of the company’s stock valued at $17,797,000 after buying an additional 127,464 shares during the last quarter. Granahan Investment Management LLC raised its holdings in shares of BridgeBio Pharma by 256.8% in the fourth quarter. Granahan Investment Management LLC now owns 388,302 shares of the company’s stock valued at $15,676,000 after buying an additional 279,481 shares during the last quarter. Garden State Investment Advisory Services LLC acquired a new position in shares of BridgeBio Pharma during the fourth quarter worth approximately $477,000. Parkman Healthcare Partners LLC boosted its position in BridgeBio Pharma by 0.7% in the 4th quarter. Parkman Healthcare Partners LLC now owns 100,734 shares of the company’s stock valued at $4,067,000 after buying an additional 734 shares during the last quarter. Finally, Osterweis Capital Management Inc. bought a new position in BridgeBio Pharma in the fourth quarter valued at about $3,572,000. 99.85% of the stock is currently owned by institutional investors.

About BridgeBio Pharma

(Get Free Report)

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.

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