BridgeBio Pharma Sees Unusually High Options Volume (NASDAQ:BBIO)

BridgeBio Pharma, Inc. (NASDAQ:BBIOGet Free Report) was the target of unusually large options trading on Tuesday. Stock investors acquired 9,739 put options on the company. This represents an increase of 584% compared to the average daily volume of 1,424 put options.

Analyst Ratings Changes

BBIO has been the topic of several analyst reports. Bank of America lifted their target price on BridgeBio Pharma from $101.00 to $104.00 and gave the company a “buy” 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. Canaccord Genuity Group raised their price objective on BridgeBio Pharma from $104.00 to $106.00 and gave the stock a “buy” rating in a research report on Wednesday, August 12th. UBS Group reaffirmed a “buy” rating on shares of BridgeBio Pharma in a research report on Wednesday, September 2nd. Finally, TD Cowen upped their target price on BridgeBio Pharma from $95.00 to $110.00 and gave the stock a “buy” rating in a research note on Tuesday, August 11th. Twenty research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $102.61.

Check Out Our Latest Research Report on BridgeBio Pharma

Insider Transactions at BridgeBio Pharma

In other BridgeBio Pharma news, CAO Maricel Apuli sold 2,000 shares of the company’s stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $80.06, for a total value of $160,120.00. Following the transaction, the chief accounting officer directly owned 127,401 shares in the company, valued at $10,199,724.06. This represents a 1.55% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Neil Kumar sold 10,000 shares of BridgeBio Pharma stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $84.03, for a total value of $840,300.00. Following the completion of the transaction, the chief executive officer owned 505,686 shares in the company, valued at approximately $42,492,794.58. This represents a 1.94% 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. In the last quarter, insiders sold 257,103 shares of company stock valued at $21,579,211. 14.23% of the stock is owned by insiders.

Institutional Trading of BridgeBio Pharma

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Jupiter Topco LLC acquired a new stake in BridgeBio Pharma during the second quarter valued at $1,050,762,000. Brooklands Fund Management Ltd acquired a new position in BridgeBio Pharma during the fourth quarter valued at approximately $210,348,000. Janus Henderson Group PLC lifted its position in BridgeBio Pharma by 25.8% during the 4th quarter. Janus Henderson Group PLC now owns 11,000,457 shares of the company’s stock worth $841,349,000 after acquiring an additional 2,259,378 shares during the last quarter. The Manufacturers Life Insurance Company bought a new position in shares of BridgeBio Pharma in the second quarter worth about $145,663,000. Finally, Norges Bank bought a new stake in BridgeBio Pharma in the 4th quarter valued at $116,802,000. Institutional investors own 99.85% of the company’s stock.

BridgeBio Pharma Stock Down 7.1%

NASDAQ:BBIO traded down $5.13 during midday trading on Tuesday, reaching $67.25. The stock had a trading volume of 1,906,072 shares, compared to its average volume of 2,866,319. The stock has a market cap of $13.15 billion, a P/E ratio of -18.77 and a beta of 0.97. The firm has a fifty day simple moving average of $80.54 and a two-hundred day simple moving average of $73.74. BridgeBio Pharma has a 12-month low of $48.78 and a 12-month high of $93.42.

BridgeBio Pharma (NASDAQ:BBIOGet Free Report) last released its quarterly earnings results on Monday, August 10th. The company reported ($0.78) earnings per share for the quarter, missing the consensus estimate of ($0.58) by ($0.20). The business had revenue of $243.68 million during the quarter, compared to the consensus estimate of $220.91 million. During the same period last year, the firm earned ($0.95) earnings per share. The business’s quarterly revenue was up 120.4% compared to the same quarter last year. On average, sell-side analysts anticipate that BridgeBio Pharma will post -2.64 earnings per share for the current fiscal year.

BridgeBio Pharma Company Profile

(Get Free Report)

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.

See Also

Receive News & Ratings for BridgeBio Pharma Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BridgeBio Pharma and related companies with MarketBeat.com's FREE daily email newsletter.