Investors Purchase High Volume of BridgeBio Pharma Call Options (NASDAQ:BBIO)

BridgeBio Pharma, Inc. (NASDAQ:BBIO - Get Free Report) was the recipient of some unusual options trading on Monday. Stock investors acquired 13,167 call options on the company. This is an increase of approximately 210% compared to the typical daily volume of 4,241 call options.

Insider Buying and Selling at BridgeBio Pharma

In other BridgeBio Pharma news, CFO Brian C. Stephenson sold 4,156 shares of the stock in a transaction that occurred 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 approximately $2,101,116.78. This represents a 4.24 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Neil Kumar sold 27,389 shares of BridgeBio Pharma stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $22.41, for a total value of $613,787.49. Following the completion of the transaction, the chief executive officer now directly owns 4,897,443 shares of the company's stock, valued at approximately $109,751,697.63. This trade represents a 0.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 24.66% of the company's stock.

Institutional Investors Weigh In On BridgeBio Pharma

Institutional investors and hedge funds have recently modified their holdings of the company. Profund Advisors LLC raised its stake in BridgeBio Pharma by 1.1% during the second quarter. Profund Advisors LLC now owns 51,029 shares of the company's stock worth $1,293,000 after purchasing an additional 555 shares during the period. Allspring Global Investments Holdings LLC raised its position in 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 buying an additional 801 shares during the last quarter. Amalgamated Bank boosted its position in BridgeBio Pharma by 24.7% during the second quarter. Amalgamated Bank now owns 4,863 shares of the company's stock worth $123,000 after purchasing an additional 962 shares in the last quarter. Diversified Trust Co boosted its stake in shares of BridgeBio Pharma by 3.0% during the 3rd quarter. Diversified Trust Co now owns 36,772 shares of the company's stock worth $936,000 after purchasing an additional 1,059 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of BridgeBio Pharma by 21.7% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,801 shares of the company's stock worth $170,000 after acquiring an additional 1,214 shares during the period. Institutional investors and hedge funds own 99.85% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Oppenheimer began coverage on BridgeBio Pharma in a research note on Thursday, October 3rd. They issued a "market perform" rating for the company. HC Wainwright reissued a "buy" rating and set a $49.00 price objective on shares of BridgeBio Pharma in a report on Monday, December 16th. Bank of America boosted their price target on shares of BridgeBio Pharma from $42.00 to $45.00 and gave the stock a "buy" rating in a research note on Monday, November 25th. Cantor Fitzgerald restated an "overweight" rating and set a $70.00 price objective on shares of BridgeBio Pharma in a research report on Monday, September 16th. Finally, Scotiabank raised their price target on BridgeBio Pharma from $45.00 to $48.00 and gave the company a "sector outperform" rating in a research report on Monday, November 25th. Two research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $48.08.

BridgeBio Pharma Stock Up 16.0 %

NASDAQ:BBIO traded up $4.65 during mid-day trading on Monday, reaching $33.73. The company's stock had a trading volume of 10,106,827 shares, compared to its average volume of 2,755,127. BridgeBio Pharma has a 1 year low of $21.62 and a 1 year high of $41.04. The stock has a fifty day moving average of $26.81 and a 200-day moving average of $26.21. The firm has a market capitalization of $6.37 billion, a PE ratio of -14.00 and a beta of 1.05.

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.