BridgeBio Pharma (NASDAQ:BBIO) Shares Gap Down - Time to Sell?

BridgeBio Pharma, Inc. (NASDAQ:BBIO - Get Free Report) shares gapped down before the market opened on Tuesday . The stock had previously closed at $34.57, but opened at $33.85. BridgeBio Pharma shares last traded at $32.99, with a volume of 1,457,896 shares.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on BBIO shares. JPMorgan Chase & Co. lifted their price objective on shares of BridgeBio Pharma from $44.00 to $50.00 and gave the company an "overweight" rating in a report on Monday, March 24th. Evercore ISI boosted their price objective on BridgeBio Pharma from $45.00 to $50.00 and gave the stock an "outperform" rating in a report on Monday, December 23rd. Citigroup increased their price objective on BridgeBio Pharma from $45.00 to $49.00 and gave the stock a "buy" rating in a research note on Friday, February 21st. Redburn Atlantic began coverage on BridgeBio Pharma in a research report on Monday, March 31st. They set a "buy" rating and a $50.00 target price on the stock. Finally, Cantor Fitzgerald reiterated an "overweight" rating and issued a $95.00 target price on shares of BridgeBio Pharma in a research note on Friday, February 21st. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $52.64.

BridgeBio Pharma Stock Performance

The firm has a market cap of $5.97 billion, a PE ratio of -11.01 and a beta of 1.08. The stock has a 50-day simple moving average of $34.01 and a two-hundred day simple moving average of $29.52.

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BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last released its earnings results on Thursday, February 20th. The company reported ($1.31) earnings per share for the quarter, missing the consensus estimate of ($1.09) by ($0.22). The company had revenue of $5.88 million during the quarter, compared to the consensus estimate of $4.04 million. As a group, sell-side analysts anticipate that BridgeBio Pharma, Inc. will post -3.67 EPS for the current fiscal year.

Insider Transactions at BridgeBio Pharma

In other news, 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 value of $2,467,720.00. Following the transaction, the chief financial officer now directly owns 93,758 shares in the company, valued at approximately $3,402,477.82. This represents a 42.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Andrea Ellis sold 30,000 shares of the company's stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $34.05, for a total transaction of $1,021,500.00. Following the completion of the sale, the director now directly owns 12,000 shares of the company's stock, valued at $408,600. The trade was a 71.43 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 9,684,739 shares of company stock valued at $326,958,651. 24.66% of the stock is currently owned by insiders.

Institutional Investors Weigh In On BridgeBio Pharma

A number of large investors have recently modified their holdings of BBIO. Rockefeller Capital Management L.P. lifted its holdings in shares of BridgeBio Pharma by 11.7% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 41,259 shares of the company's stock valued at $1,050,000 after buying an additional 4,317 shares during the period. Y Intercept Hong Kong Ltd acquired a new stake in shares of BridgeBio Pharma in the third quarter valued at about $338,000. Barclays PLC lifted its stake in BridgeBio Pharma by 31.9% in the 3rd quarter. Barclays PLC now owns 545,008 shares of the company's stock worth $13,876,000 after purchasing an additional 131,743 shares in the last quarter. Frazier Life Sciences Management L.P. boosted its stake in BridgeBio Pharma by 3.5% during the third quarter. Frazier Life Sciences Management L.P. now owns 3,760,457 shares of the company's stock worth $95,741,000 after buying an additional 127,853 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of BridgeBio Pharma by 3.8% during the 3rd quarter. Geode Capital Management LLC now owns 3,413,949 shares of the company's stock worth $86,936,000 after acquiring an additional 123,540 shares during the period. Hedge funds and other institutional investors own 99.85% of the company's stock.

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.