BridgeBio Pharma (NASDAQ:BBIO) Shares Gap Down – What’s Next?

BridgeBio Pharma, Inc. (NASDAQ:BBIO) shares gapped down before the market opened on Tuesday . The stock had previously closed at $36.25, but opened at $34.18. BridgeBio Pharma shares last traded at $33.74, with a volume of 961,714 shares changing hands.

Analyst Ratings Changes

BBIO has been the topic of several research analyst reports. Bank of America boosted their price objective on BridgeBio Pharma from $42.00 to $45.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Cantor Fitzgerald restated an “overweight” rating and set a $95.00 price objective on shares of BridgeBio Pharma in a report on Friday. Evercore ISI boosted their target price on shares of BridgeBio Pharma from $45.00 to $50.00 and gave the company an “outperform” rating in a research note on Monday, December 23rd. Citigroup raised their price target on shares of BridgeBio Pharma from $45.00 to $49.00 and gave the stock a “buy” rating in a research note on Friday. Finally, HC Wainwright reiterated a “buy” rating and issued a $49.00 price objective on shares of BridgeBio Pharma in a research note on Thursday, February 13th. One research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $51.67.

BridgeBio Pharma Stock Performance

The business has a 50 day simple moving average of $32.07 and a two-hundred day simple moving average of $28.06. The firm has a market capitalization of $6.47 billion, a P/E ratio of -11.82 and a beta of 1.07.

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

Insider Activity at BridgeBio Pharma

In other BridgeBio Pharma news, CFO Brian C. Stephenson sold 68,000 shares of the business’s stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $36.29, for a total value of $2,467,720.00. Following the completion of the sale, the chief financial officer now directly owns 93,758 shares of the company’s stock, valued at $3,402,477.82. The trade was a 42.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Neil Kumar sold 326,932 shares of the company’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 $11,864,362.28. Following the sale, the chief executive officer now owns 5,371,515 shares of the company’s stock, valued at approximately $194,932,279.35. The trade was a 5.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 3,496,239 shares of company stock valued at $122,612,036 over the last 90 days. 24.66% of the stock is owned by insiders.

Institutional Investors Weigh In On BridgeBio Pharma

Hedge funds and other institutional investors have recently modified their holdings of the stock. Creative Planning purchased a new position in BridgeBio Pharma in the 3rd quarter worth approximately $772,000. Allspring Global Investments Holdings LLC raised its holdings in BridgeBio Pharma by 17.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 5,322 shares of the company’s stock valued at $135,000 after buying an additional 801 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in BridgeBio Pharma by 21.7% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,801 shares of the company’s stock valued at $170,000 after buying an additional 1,214 shares during the last quarter. China Universal Asset Management Co. Ltd. boosted its position in BridgeBio Pharma by 64.5% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 36,165 shares of the company’s stock valued at $921,000 after buying an additional 14,181 shares during the period. Finally, Emerald Mutual Fund Advisers Trust grew its holdings in BridgeBio Pharma by 50.8% in the 3rd quarter. Emerald Mutual Fund Advisers Trust now owns 751,355 shares of the company’s stock worth $19,129,000 after acquiring an additional 253,101 shares during the last quarter. Institutional investors own 99.85% of the company’s stock.

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.