BridgeBio Pharma (NASDAQ:BBIO) Shares Gap Down - Should You Sell?

BridgeBio Pharma, Inc. (NASDAQ:BBIO - Get Free Report)'s share price gapped down prior to trading on Thursday . The stock had previously closed at $34.97, but opened at $32.50. BridgeBio Pharma shares last traded at $32.97, with a volume of 1,151,089 shares.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on BBIO. Citigroup upped their price target on BridgeBio Pharma from $45.00 to $49.00 and gave the company a "buy" rating in a report on Friday, February 21st. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $95.00 price target on shares of BridgeBio Pharma in a report on Friday, February 21st. 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. Scotiabank raised their price target on BridgeBio Pharma from $49.00 to $52.00 and gave the stock a "sector outperform" rating in a research note on Friday, February 21st. Finally, HC Wainwright reiterated a "buy" rating and set a $49.00 price objective on shares of BridgeBio Pharma in a research report on Thursday, February 13th. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $51.55.

BridgeBio Pharma Stock Performance

The company has a market capitalization of $5.97 billion, a PE ratio of -11.02 and a beta of 1.07. The company's fifty day moving average is $33.16 and its 200-day moving average is $28.63.

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BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last released its quarterly earnings data 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 firm had revenue of $5.88 million during the quarter, compared to analysts' expectations of $4.04 million. On average, sell-side analysts expect that BridgeBio Pharma, Inc. will post -3.67 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, major shareholder Genetic Disorder L.P. Kkr sold 6,000,000 shares of the business's stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $32.96, for a total value of $197,760,000.00. Following the sale, the insider now directly owns 19,260,971 shares in the company, valued at $634,841,604.16. The trade was a 23.75 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Brian C. Stephenson sold 68,000 shares of the company's stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $36.29, for a total transaction of $2,467,720.00. Following the sale, the chief financial officer now owns 93,758 shares in the company, valued at $3,402,477.82. This represents a 42.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 9,579,739 shares of company stock worth $323,171,901 in the last 90 days. 24.66% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in BBIO. Vanguard Group Inc. lifted its holdings in shares of BridgeBio Pharma by 6.2% in the 4th quarter. Vanguard Group Inc. now owns 15,077,915 shares of the company's stock worth $413,738,000 after buying an additional 879,059 shares during the period. Janus Henderson Group PLC lifted its stake in BridgeBio Pharma by 1.9% in the fourth quarter. Janus Henderson Group PLC now owns 4,907,533 shares of the company's stock worth $134,672,000 after acquiring an additional 89,521 shares during the period. Farallon Capital Management LLC grew its holdings in BridgeBio Pharma by 140.1% during the 4th quarter. Farallon Capital Management LLC now owns 4,195,000 shares of the company's stock worth $115,111,000 after acquiring an additional 2,448,000 shares in the last quarter. Frazier Life Sciences Management L.P. raised its holdings in shares of BridgeBio Pharma by 1.1% in the 4th quarter. Frazier Life Sciences Management L.P. now owns 3,800,457 shares of the company's stock valued at $104,285,000 after purchasing an additional 40,000 shares in the last quarter. Finally, Capital Research Global Investors lifted its position in shares of BridgeBio Pharma by 34.9% in the 4th quarter. Capital Research Global Investors now owns 3,526,747 shares of the company's stock worth $96,774,000 after purchasing an additional 912,439 shares during the period. 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.