BridgeBio Pharma, Inc. (NASDAQ:BBIO) Short Interest Up 12.7% in December

BridgeBio Pharma, Inc. (NASDAQ:BBIO - Get Free Report) was the target of a large increase in short interest during the month of December. As of December 31st, there was short interest totalling 19,300,000 shares, an increase of 12.7% from the December 15th total of 17,120,000 shares. Based on an average daily volume of 1,940,000 shares, the short-interest ratio is currently 9.9 days. Approximately 13.1% of the shares of the company are short sold.

Insider Buying and Selling

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

Institutional Trading of BridgeBio Pharma

A number of hedge funds have recently bought and sold shares of BBIO. Atomi Financial Group Inc. acquired a new stake in shares of BridgeBio Pharma during the fourth quarter valued at approximately $392,000. Moss Adams Wealth Advisors LLC purchased a new position in BridgeBio Pharma during the 4th quarter worth approximately $208,000. Avanza Fonder AB purchased a new position in BridgeBio Pharma during the 4th quarter worth approximately $181,000. Principal Financial Group Inc. raised its stake in BridgeBio Pharma by 1.8% during the 3rd quarter. Principal Financial Group Inc. now owns 1,145,123 shares of the company's stock valued at $29,155,000 after purchasing an additional 19,978 shares during the period. Finally, Exome Asset Management LLC lifted its holdings in shares of BridgeBio Pharma by 167.4% in the third quarter. Exome Asset Management LLC now owns 211,000 shares of the company's stock valued at $5,372,000 after purchasing an additional 132,093 shares in the last quarter. 99.85% of the stock is owned by hedge funds and other institutional investors.

BridgeBio Pharma Trading Down 0.9 %

Shares of BridgeBio Pharma stock traded down $0.32 on Friday, reaching $33.79. 2,877,156 shares of the company were exchanged, compared to its average volume of 1,403,895. BridgeBio Pharma has a fifty-two week low of $21.62 and a fifty-two week high of $41.04. The firm has a market capitalization of $6.39 billion, a price-to-earnings ratio of -14.02 and a beta of 1.05. The stock has a fifty day moving average price of $27.67 and a 200-day moving average price of $26.52.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Leerink Partners decreased their price target on BridgeBio Pharma from $47.00 to $46.00 and set an "outperform" rating for the company in a research note on Thursday, October 17th. Evercore ISI increased their target price on shares of BridgeBio Pharma from $45.00 to $50.00 and gave the company an "outperform" rating in a research report on Monday, December 23rd. HC Wainwright restated a "buy" rating and set a $49.00 price target on shares of BridgeBio Pharma in a research report on Monday, December 16th. Oppenheimer assumed coverage on shares of BridgeBio Pharma in a report on Thursday, October 3rd. They issued a "market perform" rating for the company. Finally, Scotiabank boosted their target price on BridgeBio Pharma from $45.00 to $48.00 and gave the stock a "sector outperform" rating in a report on Monday, November 25th. Two research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $48.08.

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.

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