BridgeBio Pharma (NASDAQ:BBIO) Stock Price Down 6.4% – Should You Sell?

BridgeBio Pharma, Inc. (NASDAQ:BBIO) shares traded down 6.4% on Tuesday . The stock traded as low as $69.17 and last traded at $67.77. 911,774 shares changed hands during mid-day trading, a decline of 68% from the average session volume of 2,860,165 shares. The stock had previously closed at $72.38.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on BBIO shares. Canaccord Genuity Group increased their price objective on shares of BridgeBio Pharma from $104.00 to $106.00 and gave the company a “buy” rating in a research report on Wednesday, August 12th. Mizuho boosted their target price on shares of BridgeBio Pharma from $96.00 to $110.00 and gave the stock an “outperform” rating in a report on Tuesday, September 1st. Piper Sandler upped their target price on shares of BridgeBio Pharma from $111.00 to $115.00 and gave the company an “overweight” rating in a research report on Tuesday, August 11th. Weiss Ratings raised shares of BridgeBio Pharma from a “sell (d-)” rating to a “sell (d)” rating in a report on Thursday. Finally, Raymond James Financial lowered BridgeBio Pharma from an “outperform” rating to a “market perform” rating in a research note on Tuesday, May 26th. Twenty investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $102.61.

BridgeBio Pharma Stock Down 5.7%

The company’s 50 day simple moving average is $80.54 and its 200-day simple moving average is $73.74. The firm has a market cap of $13.35 billion, a P/E ratio of -19.10 and a beta of 0.97.

BridgeBio Pharma (NASDAQ:BBIO) last released its earnings results on Monday, August 10th. The company reported ($0.78) EPS for the quarter, missing analysts’ consensus estimates of ($0.58) by ($0.20). The firm had revenue of $243.68 million during the quarter, compared to analysts’ expectations of $220.91 million. During the same quarter last year, the company posted ($0.95) earnings per share. The business’s revenue was up 120.4% on a year-over-year basis. Equities research analysts predict that BridgeBio Pharma, Inc. will post -2.64 EPS for the current year.

Insider Activity at BridgeBio Pharma

In other BridgeBio Pharma news, Director Andrea Ellis sold 17,167 shares of the company’s stock in a transaction on Thursday, July 9th. The stock was sold at an average price of $84.00, for a total value of $1,442,028.00. Following the transaction, the director owned 22,579 shares of the company’s stock, valued at $1,896,636. This represents a 43.19% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Jennifer Cook sold 148,589 shares of the stock in a transaction on Thursday, July 9th. The stock was sold at an average price of $88.54, for a total value of $13,156,070.06. Following the completion of the sale, the director owned 8,383 shares in the company, valued at approximately $742,230.82. The trade was a 94.66% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 257,103 shares of company stock worth $21,579,211 over the last quarter. 14.23% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Silvant Capital Management LLC purchased a new stake in BridgeBio Pharma in the 2nd quarter valued at about $28,000. Allworth Financial LP bought a new position in BridgeBio Pharma in the 2nd quarter worth about $31,000. Cary Street Partners Investment Advisory LLC increased its position in shares of BridgeBio Pharma by 861.0% during the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 567 shares of the company’s stock worth $43,000 after acquiring an additional 508 shares during the period. Eurizon Capital SGR S.p.A. purchased a new position in shares of BridgeBio Pharma during the fourth quarter worth approximately $44,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of BridgeBio Pharma during the second quarter valued at approximately $44,000. Hedge funds and other institutional investors own 99.85% of the company’s stock.

BridgeBio Pharma Company Profile

BridgeBio Pharma, Inc is a biopharmaceutical company focused on discovering, developing and delivering medicines for patients with genetically driven diseases and cancers. Founded in 2015, the company operates through a group of subsidiary biotechnology businesses, each generally focused on a specific disease area or therapeutic program.

BridgeBio’s research and development activities span rare diseases, genetically defined cancers, cardiovascular conditions and other serious disorders.