BridgeBio Pharma (NASDAQ:BBIO) Sees Unusually-High Trading Volume – What’s Next?

BridgeBio Pharma, Inc. (NASDAQ:BBIO) shares saw unusually-high trading volume on Monday . Approximately 5,411,575 shares traded hands during trading, an increase of 98% from the previous session’s volume of 2,738,375 shares.The stock last traded at $65.9010 and had previously closed at $66.26.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Raymond James Financial downgraded BridgeBio Pharma from an “outperform” rating to a “market perform” rating in a research note on Tuesday, May 26th. Oppenheimer decreased their price objective on BridgeBio Pharma from $83.00 to $81.00 and set an “outperform” rating for the company in a report on Wednesday, February 25th. Morgan Stanley upped their target price on BridgeBio Pharma from $94.00 to $98.00 and gave the company an “overweight” rating in a report on Thursday. HC Wainwright reaffirmed a “buy” rating and issued a $110.00 target price on shares of BridgeBio Pharma in a report on Thursday. Finally, Leerink Partners reiterated an “outperform” rating and issued a $98.00 price objective on shares of BridgeBio Pharma in a research note on Thursday, March 12th. Twenty-two equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $88.90.

BridgeBio Pharma Stock Down 0.6%

The stock has a market cap of $12.90 billion, a PE ratio of -17.63 and a beta of 0.98. The firm has a 50-day simple moving average of $71.07 and a 200-day simple moving average of $72.12.

BridgeBio Pharma (NASDAQ:BBIO) last posted its earnings results on Thursday, May 7th. The company reported ($0.84) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.70) by ($0.14). The business had revenue of $194.52 million during the quarter, compared to analysts’ expectations of $178.07 million. During the same quarter in the prior year, the company posted ($0.88) EPS. BridgeBio Pharma’s quarterly revenue was up 66.8% on a year-over-year basis. On average, research analysts expect that BridgeBio Pharma, Inc. will post -2.27 earnings per share for the current year.

Insider Buying and Selling

In related news, CAO Maricel Apuli sold 2,000 shares of the stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $71.58, for a total value of $143,160.00. Following the sale, the chief accounting officer owned 134,115 shares in the company, valued at approximately $9,599,951.70. This trade represents a 1.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Thomas Trimarchi sold 13,651 shares of the stock in a transaction on Monday, May 18th. The stock was sold at an average price of $65.08, for a total value of $888,407.08. Following the completion of the sale, the chief financial officer owned 359,194 shares in the company, valued at $23,376,345.52. This trade represents a 3.66% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 236,675 shares of company stock valued at $16,177,085 in the last ninety days. 14.23% of the stock is owned by insiders.

Institutional Investors Weigh In On BridgeBio Pharma

Institutional investors and hedge funds have recently made changes to their positions in the business. Aster Capital Management DIFC Ltd bought a new position in BridgeBio Pharma in the third quarter valued at $31,000. Harvest Fund Management Co. Ltd bought a new position in BridgeBio Pharma in the third quarter valued at $34,000. Jones Financial Companies Lllp bought a new position in BridgeBio Pharma in the first quarter valued at $35,000. Huntington National Bank increased its stake in BridgeBio Pharma by 111.7% in the third quarter. Huntington National Bank now owns 743 shares of the company’s stock valued at $39,000 after acquiring an additional 392 shares during the last quarter. Finally, Farther Finance Advisors LLC increased its stake in BridgeBio Pharma by 91.4% in the fourth quarter. Farther Finance Advisors LLC now owns 513 shares of the company’s stock valued at $39,000 after acquiring an additional 245 shares during the last quarter. Hedge funds and other institutional investors own 99.85% of the company’s stock.

About BridgeBio Pharma

BridgeBio Pharma, Inc is a clinical-stage biopharmaceutical company headquartered in Palo Alto, California. Founded in 2015 by Neil Kumar, the company is dedicated to discovering, developing and delivering transformative medicines for patients with genetic diseases and cancers. BridgeBio operates an integrated model that spans target identification, preclinical research, clinical development and commercialization, aiming to streamline the process from bench to bedside.

BridgeBio’s pipeline comprises multiple therapeutic modalities, including small molecules, biologics and genetic therapies.