BridgeBio Pharma, Inc. (NASDAQ:BBIO) Short Interest Down 7.9% in January

BridgeBio Pharma, Inc. (NASDAQ:BBIO) saw a significant drop in short interest in January. As of January 31st, there was short interest totalling 18,780,000 shares, a drop of 7.9% from the January 15th total of 20,380,000 shares. Based on an average daily trading volume, of 2,470,000 shares, the days-to-cover ratio is presently 7.6 days. Approximately 12.7% of the shares of the stock are short sold.

BridgeBio Pharma Stock Performance

Shares of NASDAQ:BBIO opened at $35.49 on Wednesday. The company has a 50 day moving average price of $31.38 and a two-hundred day moving average price of $27.73. The company has a market capitalization of $6.71 billion, a PE ratio of -14.73 and a beta of 1.07. BridgeBio Pharma has a 52 week low of $21.62 and a 52 week high of $37.81.

Insider Activity

In other BridgeBio Pharma news, CFO Brian C. Stephenson sold 68,000 shares of the 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 owns 93,758 shares of the company’s stock, valued at $3,402,477.82. This represents a 42.04 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Global Investors Lp Viking sold 3,065,616 shares of the business’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $34.90, for a total transaction of $106,989,998.40. Following the completion of the transaction, the insider now directly owns 22,055,375 shares of the company’s stock, valued at approximately $769,732,587.50. This represents a 12.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 3,460,548 shares of company stock worth $121,322,081. 24.66% of the stock is owned by corporate insiders.

Institutional Trading of BridgeBio Pharma

Large investors have recently made changes to their positions in the company. Steward Partners Investment Advisory LLC lifted its holdings in BridgeBio Pharma by 85.8% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,022 shares of the company’s stock worth $28,000 after acquiring an additional 472 shares in the last quarter. Itau Unibanco Holding S.A. bought a new position in shares of BridgeBio Pharma during the 4th quarter valued at about $41,000. Sterling Capital Management LLC lifted its holdings 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 valued at $49,000 after purchasing an additional 1,514 shares in the last quarter. Values First Advisors Inc. acquired a new position in shares of BridgeBio Pharma in the 3rd quarter valued at approximately $57,000. Finally, 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 purchasing an additional 1,964 shares in the last quarter. Institutional investors own 99.85% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on BBIO. Scotiabank boosted their target price on BridgeBio Pharma from $48.00 to $49.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, February 12th. HC Wainwright reissued a “buy” rating and set a $49.00 price objective on shares of BridgeBio Pharma in a report on Thursday, February 13th. Bank of America raised their target price 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. Finally, Evercore ISI boosted their price target 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 research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, BridgeBio Pharma currently has a consensus rating of “Moderate Buy” and a consensus target price of $49.08.

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.