Short Interest in BridgeBio Pharma, Inc. (NASDAQ:BBIO) Declines By 7.9%

BridgeBio Pharma, Inc. (NASDAQ:BBIO - Get Free Report) saw a large decrease in short interest in the month of January. As of January 31st, there was short interest totalling 18,780,000 shares, a decrease of 7.9% from the January 15th total of 20,380,000 shares. Currently, 12.7% of the shares of the stock are sold short. Based on an average trading volume of 2,470,000 shares, the short-interest ratio is presently 7.6 days.

Insider Transactions at BridgeBio Pharma

In related news, major shareholder Global Investors Lp Viking sold 3,065,616 shares of the stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $34.90, for a total transaction of $106,989,998.40. Following the completion of the sale, the insider now directly owns 22,055,375 shares of the company's stock, valued at $769,732,587.50. This represents a 12.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Brian C. Stephenson sold 68,000 shares of the company'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 sale, the chief financial officer now owns 93,758 shares of the company's stock, valued at approximately $3,402,477.82. This trade represents a 42.04 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 3,496,239 shares of company stock valued at $122,612,036. Company insiders own 24.66% of the company's stock.

Hedge Funds Weigh In On BridgeBio Pharma

A number of hedge funds and other institutional investors have recently made changes to their positions in BBIO. Steward Partners Investment Advisory LLC increased its position in shares of BridgeBio Pharma by 85.8% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,022 shares of the company's stock worth $28,000 after purchasing an additional 472 shares in the last quarter. Itau Unibanco Holding S.A. acquired a new stake in shares of BridgeBio Pharma during the 4th quarter worth about $41,000. Sterling Capital Management LLC increased its position in shares of BridgeBio Pharma by 554.6% during the 4th quarter. Sterling Capital Management LLC now owns 1,787 shares of the company's stock worth $49,000 after purchasing an additional 1,514 shares in the last quarter. Values First Advisors Inc. acquired a new stake in shares of BridgeBio Pharma during the 3rd quarter worth about $57,000. Finally, CWM LLC increased its position in shares of BridgeBio Pharma by 132.9% during the 3rd quarter. CWM LLC now owns 3,442 shares of the company's stock worth $88,000 after purchasing an additional 1,964 shares in the last quarter. 99.85% of the stock is owned by institutional investors.

BridgeBio Pharma Stock Performance

Shares of NASDAQ:BBIO traded up $0.52 during midday trading on Thursday, reaching $36.81. 7,245,671 shares of the company's stock were exchanged, compared to its average volume of 2,945,925. The company's 50 day simple moving average is $31.71 and its two-hundred day simple moving average is $27.85. The firm has a market capitalization of $6.96 billion, a PE ratio of -15.27 and a beta of 1.07. BridgeBio Pharma has a 12 month low of $21.62 and a 12 month high of $39.47.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last released its quarterly earnings data on Thursday, February 20th. The company reported ($1.31) EPS for the quarter, missing analysts' consensus estimates of ($1.09) by ($0.22). On average, research analysts anticipate that BridgeBio Pharma will post -2.56 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have weighed in on BBIO. HC Wainwright reiterated a "buy" rating and issued a $49.00 price objective on shares of BridgeBio Pharma in a research note on Thursday, February 13th. Scotiabank increased their price target on shares of BridgeBio Pharma from $48.00 to $49.00 and gave the stock a "sector outperform" rating in a research note on Wednesday, February 12th. Evercore ISI increased 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. Finally, Bank of America increased 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. One analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $49.08.

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.