BridgeBio Pharma (NASDAQ:BBIO) Shares Up 6.6% - What's Next?

BridgeBio Pharma, Inc. (NASDAQ:BBIO - Get Free Report)'s share price shot up 6.6% during trading on Tuesday . The stock traded as high as $36.15 and last traded at $35.96. 2,596,130 shares changed hands during trading, a decline of 4% from the average session volume of 2,707,698 shares. The stock had previously closed at $33.73.

Analysts Set New Price Targets

A number of research firms have commented on BBIO. HC Wainwright reaffirmed a "buy" rating and set a $49.00 target price on shares of BridgeBio Pharma in a report on Monday, December 16th. Scotiabank lifted their price objective on shares of BridgeBio Pharma from $45.00 to $48.00 and gave the stock a "sector outperform" rating in a report on Monday, November 25th. Bank of America boosted their target price on shares of BridgeBio Pharma from $42.00 to $45.00 and gave the company a "buy" rating in a research note on Monday, November 25th. Evercore ISI raised their price target on shares of BridgeBio Pharma from $45.00 to $50.00 and gave the stock an "outperform" rating in a research report on Monday, December 23rd. Finally, Oppenheimer began coverage on shares of BridgeBio Pharma in a research report on Thursday, October 3rd. They set a "market perform" rating for the company. Two analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $48.08.

BridgeBio Pharma Stock Performance

The company's fifty day simple moving average is $27.18 and its two-hundred day simple moving average is $26.35. The stock has a market capitalization of $6.73 billion, a P/E ratio of -14.77 and a beta of 1.05.

Insiders Place Their Bets

In related news, CEO Neil Kumar sold 27,389 shares of the firm's stock in a transaction that occurred on Tuesday, November 19th. The stock was 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 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Brian C. Stephenson sold 4,156 shares of BridgeBio Pharma stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $22.41, for a total transaction of $93,135.96. Following the completion of the sale, 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 position. The disclosure for this sale can be found here. Insiders own 24.66% of the company's stock.

Institutional Trading of BridgeBio Pharma

Institutional investors and hedge funds have recently modified their holdings of the stock. Headlands Technologies LLC purchased a new position in BridgeBio Pharma in the second quarter valued at about $48,000. Values First Advisors Inc. bought a new stake in shares of BridgeBio Pharma in the 3rd quarter worth approximately $57,000. CWM LLC lifted its stake in BridgeBio Pharma by 132.9% in the third quarter. CWM LLC now owns 3,442 shares of the company's stock valued at $88,000 after purchasing an additional 1,964 shares during the last quarter. Advisors Asset Management Inc. grew its holdings in BridgeBio Pharma by 56.1% during the third quarter. Advisors Asset Management Inc. now owns 4,576 shares of the company's stock valued at $117,000 after purchasing an additional 1,645 shares during the period. Finally, Amalgamated Bank grew its holdings in BridgeBio Pharma by 24.7% during the second quarter. Amalgamated Bank now owns 4,863 shares of the company's stock valued at $123,000 after purchasing an additional 962 shares during the period. 99.85% of the stock is owned by hedge funds and other 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.