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

BridgeBio Pharma, Inc. (NASDAQ:BBIO - Get Free Report) saw some unusual options trading activity on Monday. Stock investors purchased 8,235 call options on the stock. This is an increase of 88% compared to the typical daily volume of 4,371 call options.

Analyst Upgrades and Downgrades

BBIO has been the topic of several research analyst reports. Scotiabank boosted their target price 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. Citigroup upped their price objective on shares of BridgeBio Pharma from $45.00 to $49.00 and gave the company a "buy" rating in a report on Friday, February 21st. HC Wainwright reaffirmed a "buy" rating and issued a $49.00 price objective on shares of BridgeBio Pharma in a research report on Thursday, February 13th. Evercore ISI boosted their target price 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, Redburn Atlantic started coverage on shares of BridgeBio Pharma in a report on Monday. They issued a "buy" rating and a $50.00 price target for the company. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $52.64.

BridgeBio Pharma Stock Down 7.9 %

Shares of NASDAQ BBIO traded down $2.70 during midday trading on Friday, hitting $31.37. The stock had a trading volume of 4,013,841 shares, compared to its average volume of 2,215,377. The stock has a 50 day simple moving average of $34.13 and a 200-day simple moving average of $29.46. The company has a market capitalization of $5.97 billion, a PE ratio of -11.01 and a beta of 1.08. BridgeBio Pharma has a 1 year low of $21.62 and a 1 year high of $39.47.

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BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last announced 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 business had revenue of $5.88 million during the quarter, compared to the consensus estimate of $4.04 million. As a group, analysts expect that BridgeBio Pharma will post -3.67 earnings per share for the current fiscal year.

Insider Activity at BridgeBio Pharma

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 shares were sold at an average price of $36.29, for a total transaction of $2,467,720.00. Following the completion of the transaction, the chief financial officer now owns 93,758 shares in the company, valued at $3,402,477.82. The trade was a 42.04 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Neil Kumar sold 326,932 shares of the stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $36.29, for a total transaction of $11,864,362.28. Following the sale, the chief executive officer now directly owns 5,371,515 shares of the company's stock, valued at $194,932,279.35. The trade was a 5.74 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 9,684,739 shares of company stock valued at $326,958,651 over the last ninety days. 24.66% of the stock is owned by company insiders.

Institutional Trading of BridgeBio Pharma

Large investors have recently bought and sold shares of the business. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of BridgeBio Pharma during the 3rd quarter worth approximately $309,000. Charles Schwab Investment Management Inc. lifted its position in BridgeBio Pharma by 8.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,284,802 shares of the company's stock worth $32,711,000 after buying an additional 95,605 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in BridgeBio Pharma during the third quarter worth $383,000. Rockefeller Capital Management L.P. grew its holdings in 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 in the last quarter. Finally, Erste Asset Management GmbH acquired a new stake in shares of BridgeBio Pharma in the 3rd quarter worth $3,497,000. 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.