BridgeBio Pharma (NASDAQ:BBIO) Shares Gap Down – Time to Sell?

BridgeBio Pharma, Inc. (NASDAQ:BBIO)’s share price gapped down prior to trading on Tuesday . The stock had previously closed at $34.57, but opened at $33.85. BridgeBio Pharma shares last traded at $32.99, with a volume of 1,457,896 shares changing hands.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Citigroup lifted their target price on shares of BridgeBio Pharma from $45.00 to $49.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. JPMorgan Chase & Co. boosted their target price on BridgeBio Pharma from $44.00 to $50.00 and gave the company an “overweight” rating in a research note on Monday, March 24th. Redburn Atlantic began coverage on BridgeBio Pharma in a research report on Monday. They set a “buy” rating and a $50.00 price target on the stock. Cantor Fitzgerald reissued an “overweight” rating and set a $95.00 price objective on shares of BridgeBio Pharma in a research note on Friday, February 21st. Finally, Evercore ISI lifted their target price on shares of BridgeBio Pharma from $45.00 to $50.00 and gave the stock an “outperform” rating in a research note on Monday, December 23rd. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, BridgeBio Pharma has a consensus rating of “Moderate Buy” and a consensus target price of $52.64.

BridgeBio Pharma Trading Down 4.2 %

The stock has a market cap of $6.30 billion, a PE ratio of -11.62 and a beta of 1.07. The business has a fifty day simple moving average of $34.28 and a two-hundred day simple moving average of $29.35.

BridgeBio Pharma (NASDAQ:BBIO) last announced its quarterly earnings data on Thursday, February 20th. The company reported ($1.31) EPS for the quarter, missing the consensus estimate of ($1.09) by ($0.22). The business had revenue of $5.88 million during the quarter, compared to analyst estimates of $4.04 million. On average, research analysts predict that BridgeBio Pharma, Inc. will post -3.67 earnings per share for the current year.

Insider Transactions at BridgeBio Pharma

In other BridgeBio Pharma news, CEO Neil Kumar sold 75,000 shares of the business’s stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $36.87, for a total value of $2,765,250.00. Following the completion of the transaction, the chief executive officer now owns 4,948,447 shares of the company’s stock, valued at approximately $182,449,240.89. The trade was a 1.49 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Brian C. Stephenson sold 68,000 shares of the firm’s stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $36.29, for a total transaction of $2,467,720.00. Following the sale, the chief financial officer now directly owns 93,758 shares in the company, valued at approximately $3,402,477.82. The trade was a 42.04 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 9,654,739 shares of company stock valued at $325,937,151 in the last quarter. 24.66% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of BBIO. Steward Partners Investment Advisory LLC lifted its stake in shares of BridgeBio Pharma by 85.8% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,022 shares of the company’s stock worth $28,000 after purchasing an additional 472 shares during the period. Itau Unibanco Holding S.A. bought a new position in BridgeBio Pharma in the fourth quarter worth approximately $41,000. Sterling Capital Management LLC boosted its stake in shares of BridgeBio Pharma by 554.6% during the 4th quarter. Sterling Capital Management LLC now owns 1,787 shares of the company’s stock worth $49,000 after acquiring an additional 1,514 shares during the last quarter. GF Fund Management CO. LTD. bought a new stake in shares of BridgeBio Pharma during the 4th quarter valued at $109,000. Finally, Avanza Fonder AB purchased a new stake in shares of BridgeBio Pharma in the 4th quarter worth $181,000. 99.85% of the stock is owned by hedge funds and other institutional investors.

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.