BridgeBio Pharma (NASDAQ:BBIO) Shares Gap Down - Here's What Happened

Shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO - Get Free Report) gapped down before the market opened on Tuesday . The stock had previously closed at $33.01, but opened at $31.81. BridgeBio Pharma shares last traded at $31.75, with a volume of 171,088 shares.

Wall Street Analysts Forecast Growth

BBIO has been the topic of a number of research reports. HC Wainwright reiterated a "buy" rating and set a $49.00 target price on shares of BridgeBio Pharma in a research report on Thursday, February 13th. Scotiabank upped their target price on shares of BridgeBio Pharma from $49.00 to $52.00 and gave the stock a "sector outperform" rating in a research report on Friday, February 21st. Evercore ISI boosted 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. Cantor Fitzgerald reissued an "overweight" rating and set a $95.00 price target on shares of BridgeBio Pharma in a research note on Friday, February 21st. Finally, Citigroup boosted their price target on shares of BridgeBio Pharma from $45.00 to $49.00 and gave the stock a "buy" rating in a research note on Friday, February 21st. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $52.20.

BridgeBio Pharma Stock Up 2.5 %

The firm has a fifty day moving average of $34.08 and a 200-day moving average of $29.09. The firm has a market cap of $6.61 billion, a P/E ratio of -12.20 and a beta of 1.07.

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

Insider Activity

In related news, CFO Brian C. Stephenson sold 68,000 shares of the business's stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $36.29, for a total value of $2,467,720.00. Following the completion of the sale, the chief financial officer now directly owns 93,758 shares in the company, valued at approximately $3,402,477.82. The trade was a 42.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Neil Kumar sold 326,932 shares of the business's stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $36.29, for a total value of $11,864,362.28. Following the completion of the sale, the chief executive officer now owns 5,371,515 shares of the company's stock, valued at approximately $194,932,279.35. This trade represents a 5.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 9,579,739 shares of company stock valued at $323,171,901. 24.66% of the stock is owned by insiders.

Institutional Investors Weigh In On BridgeBio Pharma

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. California State Teachers Retirement System lifted its stake in BridgeBio Pharma by 6.8% during the fourth quarter. California State Teachers Retirement System now owns 115,655 shares of the company's stock worth $3,174,000 after purchasing an additional 7,388 shares during the last quarter. Jefferies Financial Group Inc. bought a new stake in BridgeBio Pharma during the fourth quarter worth $5,076,000. Mackenzie Financial Corp lifted its stake in BridgeBio Pharma by 6.6% during the fourth quarter. Mackenzie Financial Corp now owns 9,505 shares of the company's stock worth $261,000 after purchasing an additional 592 shares during the last quarter. GF Fund Management CO. LTD. bought a new stake in BridgeBio Pharma during the fourth quarter worth $109,000. Finally, Frazier Life Sciences Management L.P. lifted its stake in BridgeBio Pharma by 1.1% during the fourth quarter. Frazier Life Sciences Management L.P. now owns 3,800,457 shares of the company's stock worth $104,285,000 after purchasing an additional 40,000 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.