BridgeBio Pharma (NASDAQ:BBIO) Sees Large Volume Increase – Time to Buy?

BridgeBio Pharma, Inc. (NASDAQ:BBIO) saw unusually-strong trading volume on Monday . Approximately 1,216,237 shares were traded during trading, a decline of 13% from the previous session’s volume of 1,397,695 shares.The stock last traded at $30.19 and had previously closed at $29.08.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Evercore ISI boosted their target price on BridgeBio Pharma from $45.00 to $50.00 and gave the company an “outperform” rating in a research note on Monday, December 23rd. Cantor Fitzgerald restated an “overweight” rating and issued a $70.00 price objective on shares of BridgeBio Pharma in a report on Monday, September 16th. Scotiabank lifted their target price on shares of BridgeBio Pharma from $45.00 to $48.00 and gave the company a “sector outperform” rating in a research note on Monday, November 25th. Oppenheimer started coverage on shares of BridgeBio Pharma in a research note on Thursday, October 3rd. They set a “market perform” rating on the stock. Finally, Bank of America lifted their price objective on shares of BridgeBio Pharma from $42.00 to $45.00 and gave the company a “buy” rating in a research note on Monday, November 25th. Two research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, BridgeBio Pharma currently has an average rating of “Moderate Buy” and a consensus price target of $48.08.

BridgeBio Pharma Trading Up 16.1 %

The company has a market cap of $6.38 billion, a price-to-earnings ratio of -14.00 and a beta of 1.05. The company has a fifty day moving average price of $26.81 and a two-hundred day moving average price of $26.21.

Insider Buying and Selling at BridgeBio Pharma

In other news, CEO Neil Kumar sold 27,389 shares of the stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $22.41, for a total transaction of $613,787.49. Following the sale, the chief executive officer now owns 4,897,443 shares in the company, valued at approximately $109,751,697.63. This represents a 0.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Brian C. Stephenson sold 4,156 shares of BridgeBio Pharma stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $22.41, for a total value of $93,135.96. Following the completion of the transaction, the chief financial officer now directly owns 93,758 shares of the company’s stock, valued at $2,101,116.78. This represents a 4.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 24.66% of the company’s stock.

Hedge Funds Weigh In On BridgeBio Pharma

Several hedge funds have recently added to or reduced their stakes in the company. Headlands Technologies LLC acquired a new stake in shares of BridgeBio Pharma during the 2nd quarter worth approximately $48,000. Values First Advisors Inc. bought a new stake in shares of BridgeBio Pharma during the 3rd quarter valued at $57,000. CWM LLC lifted its stake in shares of BridgeBio Pharma by 132.9% in the 3rd quarter. CWM LLC now owns 3,442 shares of the company’s stock valued at $88,000 after purchasing an additional 1,964 shares during the period. Advisors Asset Management Inc. boosted its position in shares of BridgeBio Pharma by 56.1% in the 3rd quarter. Advisors Asset Management Inc. now owns 4,576 shares of the company’s stock worth $117,000 after purchasing an additional 1,645 shares during the last quarter. Finally, Amalgamated Bank grew its stake in shares of BridgeBio Pharma by 24.7% during the second quarter. Amalgamated Bank now owns 4,863 shares of the company’s stock worth $123,000 after purchasing an additional 962 shares during the period. Institutional investors 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.