BridgeBio Pharma (NASDAQ:BBIO) Sees Large Volume Increase - Here's Why

BridgeBio Pharma, Inc. (NASDAQ:BBIO - Get Free Report) saw unusually-strong trading volume on Monday . Approximately 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 Ratings Changes

A number of analysts have recently weighed in on the stock. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $70.00 target price on shares of BridgeBio Pharma in a research report on Monday, September 16th. Scotiabank upped their price target on shares of BridgeBio Pharma from $45.00 to $48.00 and gave the stock a "sector outperform" rating in a research note on Monday, November 25th. Oppenheimer assumed coverage on shares of BridgeBio Pharma in a research note on Thursday, October 3rd. They issued a "market perform" rating on the stock. Evercore ISI upped their price target on shares of BridgeBio Pharma from $45.00 to $50.00 and gave the stock an "outperform" rating in a research note on Monday, December 23rd. Finally, Bank of America upped their price target on shares of BridgeBio Pharma from $42.00 to $45.00 and gave the stock a "buy" rating in a research note on Monday, November 25th. Two research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, BridgeBio Pharma has an average rating of "Moderate Buy" and an average target price of $48.08.

BridgeBio Pharma Stock Performance

The company's fifty day moving average is $26.98 and its 200-day moving average is $26.27. The company has a market capitalization of $6.37 billion, a PE ratio of -14.00 and a beta of 1.05.

Insider Buying and Selling

In other BridgeBio Pharma news, CEO Neil Kumar sold 27,389 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 transaction of $613,787.49. Following the completion of the sale, the chief executive officer now directly owns 4,897,443 shares of the company's stock, valued at $109,751,697.63. This trade represents a 0.56 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 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 of the company's stock, valued at $2,101,116.78. This represents a 4.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 24.66% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Headlands Technologies LLC bought a new position in shares of BridgeBio Pharma during the 2nd quarter valued at approximately $48,000. Values First Advisors Inc. bought a new stake in BridgeBio Pharma in the third quarter worth $57,000. CWM LLC lifted its position in 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 buying an additional 1,964 shares during the last quarter. Advisors Asset Management Inc. lifted its position in BridgeBio Pharma by 56.1% in the third quarter. Advisors Asset Management Inc. now owns 4,576 shares of the company's stock worth $117,000 after buying an additional 1,645 shares during the last quarter. Finally, Amalgamated Bank lifted its position in BridgeBio Pharma by 24.7% in the second quarter. Amalgamated Bank now owns 4,863 shares of the company's stock worth $123,000 after buying an additional 962 shares during the last quarter. 99.85% of the stock is currently owned by institutional investors.

About BridgeBio Pharma

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.