BridgeBio Pharma (NASDAQ:BBIO) Trading Up 4.7% - Time to Buy?

BridgeBio Pharma, Inc. (NASDAQ:BBIO - Get Free Report) traded up 4.7% during trading on Thursday . The stock traded as high as $24.61 and last traded at $24.47. 792,109 shares traded hands during mid-day trading, a decline of 58% from the average session volume of 1,873,302 shares. The stock had previously closed at $23.38.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Oppenheimer started coverage on shares of BridgeBio Pharma in a report on Thursday, October 3rd. They issued a "market perform" rating for the company. JPMorgan Chase & Co. dropped their target price on shares of BridgeBio Pharma from $46.00 to $43.00 and set an "overweight" rating for the company in a report on Wednesday, August 7th. HC Wainwright reaffirmed a "buy" rating and set a $43.00 target price on shares of BridgeBio Pharma in a report on Monday, September 30th. Piper Sandler started coverage on shares of BridgeBio Pharma in a report on Wednesday, September 4th. They set an "overweight" rating and a $46.00 target price for the company. Finally, Bank of America reaffirmed a "buy" rating and set a $42.00 target price on shares of BridgeBio Pharma in a report on Wednesday, September 11th. Two investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $47.92.

BridgeBio Pharma Price Performance

The stock's fifty day moving average is $25.98 and its 200-day moving average is $26.83. The stock has a market cap of $4.67 billion, a PE ratio of -7.75 and a beta of 1.08.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last posted its earnings results on Thursday, August 1st. The company reported ($0.39) EPS for the quarter, beating analysts' consensus estimates of ($1.00) by $0.61. The company had revenue of $2.17 million during the quarter, compared to analyst estimates of $3.96 million. During the same period in the previous year, the company earned ($0.98) EPS. The company's quarterly revenue was up 32.1% compared to the same quarter last year. On average, sell-side analysts expect that BridgeBio Pharma, Inc. will post -2.54 EPS for the current fiscal year.

Insider Buying and Selling at BridgeBio Pharma

In other BridgeBio Pharma news, major shareholder Genetic Disorder L.P. Kkr sold 5,800,000 shares of the company's stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $25.75, for a total value of $149,350,000.00. Following the transaction, the insider now owns 25,260,971 shares of the company's stock, valued at $650,470,003.25. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, major shareholder Genetic Disorder L.P. Kkr sold 5,800,000 shares of the stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $25.75, for a total transaction of $149,350,000.00. Following the sale, the insider now owns 25,260,971 shares of the company's stock, valued at approximately $650,470,003.25. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Brian C. Stephenson sold 4,155 shares of the stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $24.69, for a total transaction of $102,586.95. Following the sale, the chief financial officer now directly owns 85,192 shares in the company, valued at $2,103,390.48. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,831,544 shares of company stock valued at $150,128,821 over the last 90 days. 24.66% of the stock is owned by insiders.

Institutional Trading of BridgeBio Pharma

Several hedge funds have recently made changes to their positions in BBIO. Janus Henderson Group PLC raised its holdings in BridgeBio Pharma by 189.7% in the first quarter. Janus Henderson Group PLC now owns 3,312,706 shares of the company's stock valued at $102,402,000 after acquiring an additional 2,169,143 shares in the last quarter. Vanguard Group Inc. raised its holdings in BridgeBio Pharma by 13.5% in the fourth quarter. Vanguard Group Inc. now owns 12,800,294 shares of the company's stock valued at $516,748,000 after acquiring an additional 1,524,313 shares in the last quarter. Capital Research Global Investors raised its holdings in BridgeBio Pharma by 101.1% in the first quarter. Capital Research Global Investors now owns 2,212,085 shares of the company's stock valued at $68,398,000 after acquiring an additional 1,111,975 shares in the last quarter. Altitude Crest Partners Inc. acquired a new stake in BridgeBio Pharma in the fourth quarter valued at approximately $30,462,000. Finally, Ensign Peak Advisors Inc increased its stake in BridgeBio Pharma by 44.5% in the second quarter. Ensign Peak Advisors Inc now owns 1,646,202 shares of the company's stock valued at $41,698,000 after purchasing an additional 506,845 shares during the last quarter. Institutional investors and hedge funds 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.