BridgeBio Pharma (NASDAQ:BBIO) Sees Unusually-High Trading Volume - Should You Buy?

Shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO - Get Free Report) saw unusually-high trading volume on Wednesday . Approximately 4,827,296 shares changed hands during mid-day trading, an increase of 58% from the previous session's volume of 3,046,861 shares.The stock last traded at $34.86 and had previously closed at $34.35.

Analysts Set New Price Targets

BBIO has been the topic of several analyst reports. Bank of America upped their target price on shares of BridgeBio Pharma from $42.00 to $45.00 and gave the stock a "buy" rating in a report on Monday, November 25th. HC Wainwright reaffirmed a "buy" rating and issued a $49.00 target price on shares of BridgeBio Pharma in a report on Thursday, February 13th. Cantor Fitzgerald reissued an "overweight" rating and set a $95.00 price objective on shares of BridgeBio Pharma in a report on Friday, February 21st. Evercore ISI increased their price objective on shares of BridgeBio Pharma from $45.00 to $50.00 and gave the stock an "outperform" rating in a report on Monday, December 23rd. Finally, Scotiabank increased their price objective on shares of BridgeBio Pharma from $49.00 to $52.00 and gave the stock a "sector outperform" rating in a report on Friday, February 21st. One research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $51.67.

BridgeBio Pharma Stock Performance

The company has a market capitalization of $6.64 billion, a price-to-earnings ratio of -12.25 and a beta of 1.07. The business's 50-day simple moving average is $32.68 and its 200-day simple moving average is $28.32.

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BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last announced its quarterly earnings results on Thursday, February 20th. The company reported ($1.31) earnings per share for the quarter, missing analysts' consensus estimates of ($1.09) by ($0.22). The company had revenue of $5.88 million for the quarter, compared to analyst estimates of $4.04 million. On average, analysts forecast that BridgeBio Pharma, Inc. will post -3.67 earnings per share for the current year.

Insider Activity at BridgeBio Pharma

In related news, CFO Brian C. Stephenson sold 68,000 shares of the stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $36.29, for a total transaction of $2,467,720.00. Following the completion of the sale, the chief financial officer now directly owns 93,758 shares of the company's stock, valued at approximately $3,402,477.82. This represents a 42.04 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Global Investors Lp Viking sold 3,065,616 shares of the stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $34.90, for a total value of $106,989,998.40. Following the sale, the insider now directly owns 22,055,375 shares of the company's stock, valued at approximately $769,732,587.50. The trade was a 12.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 3,579,739 shares of company stock worth $125,411,901 in the last ninety days. Company insiders own 24.66% of the company's stock.

Institutional Trading of BridgeBio Pharma

Large investors have recently bought and sold shares of the business. Ironwood Investment Management LLC grew its stake in shares of BridgeBio Pharma by 0.5% during the 4th quarter. Ironwood Investment Management LLC now owns 63,157 shares of the company's stock worth $1,733,000 after acquiring an additional 338 shares in the last quarter. Summit Investment Advisors Inc. grew its stake in shares of BridgeBio Pharma by 3.3% during the 4th quarter. Summit Investment Advisors Inc. now owns 14,706 shares of the company's stock worth $404,000 after acquiring an additional 466 shares in the last quarter. Steward Partners Investment Advisory LLC grew its stake in shares of BridgeBio Pharma by 85.8% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,022 shares of the company's stock worth $28,000 after acquiring an additional 472 shares in the last quarter. Mackenzie Financial Corp grew its stake in shares of BridgeBio Pharma by 6.6% during the 4th quarter. Mackenzie Financial Corp now owns 9,505 shares of the company's stock worth $261,000 after acquiring an additional 592 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its stake in shares of BridgeBio Pharma by 17.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 5,322 shares of the company's stock worth $135,000 after acquiring an additional 801 shares in the last quarter. 99.85% of the stock is 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.