BridgeBio Pharma, Inc. (NASDAQ:BBIO) Short Interest Up 12.7% in December

BridgeBio Pharma, Inc. (NASDAQ:BBIO) saw a significant increase in short interest in December. As of December 31st, there was short interest totalling 19,300,000 shares, an increase of 12.7% from the December 15th total of 17,120,000 shares. Currently, 13.1% of the company’s stock are short sold. Based on an average daily volume of 1,940,000 shares, the short-interest ratio is presently 9.9 days.

BridgeBio Pharma Stock Performance

BBIO opened at $33.79 on Monday. The stock has a fifty day moving average of $27.67 and a 200-day moving average of $26.53. The company has a market capitalization of $6.39 billion, a P/E ratio of -14.02 and a beta of 1.05. BridgeBio Pharma has a fifty-two week low of $21.62 and a fifty-two week high of $41.04.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on BBIO shares. HC Wainwright reissued a “buy” rating and issued a $49.00 price objective on shares of BridgeBio Pharma in a report on Monday, December 16th. Bank of America increased their price target 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. Scotiabank boosted their price objective on shares of BridgeBio Pharma from $45.00 to $48.00 and gave the stock a “sector outperform” rating in a research note on Monday, November 25th. Oppenheimer began coverage on shares of BridgeBio Pharma in a research note on Thursday, October 3rd. They issued a “market perform” rating for the company. Finally, Evercore ISI boosted their price target on BridgeBio Pharma from $45.00 to $50.00 and gave the stock an “outperform” rating in a research report on Monday, December 23rd. Two investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, BridgeBio Pharma presently has a consensus rating of “Moderate Buy” and a consensus target price of $48.08.

Insider Activity

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

Hedge Funds Weigh In On BridgeBio Pharma

Hedge funds have recently bought and sold shares of the business. Values First Advisors Inc. acquired a new position in shares of BridgeBio Pharma during the 3rd quarter worth approximately $57,000. CWM LLC increased its stake in 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 acquiring an additional 1,964 shares during the period. Advisors Asset Management Inc. raised its holdings in BridgeBio Pharma by 56.1% in the 3rd quarter. Advisors Asset Management Inc. now owns 4,576 shares of the company’s stock valued at $117,000 after acquiring an additional 1,645 shares in the last quarter. Amalgamated Bank lifted its position in shares of BridgeBio Pharma by 24.7% during the 2nd quarter. Amalgamated Bank now owns 4,863 shares of the company’s stock valued at $123,000 after acquiring an additional 962 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its holdings in shares of BridgeBio Pharma by 17.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 5,322 shares of the company’s stock worth $135,000 after purchasing an additional 801 shares in the last quarter. 99.85% of the stock is owned by institutional investors.

BridgeBio Pharma Company Profile

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.