Traders Purchase Large Volume of BridgeBio Pharma Put Options (NASDAQ:BBIO)

BridgeBio Pharma, Inc. (NASDAQ:BBIO) was the recipient of some unusual options trading on Thursday. Traders acquired 4,033 put options on the stock. This is an increase of 114% compared to the average volume of 1,888 put options.

Insider Buying and Selling

In related news, CEO Neil Kumar sold 40,000 shares of the stock in a transaction on Wednesday, October 8th. The stock was sold at an average price of $54.78, for a total transaction of $2,191,200.00. Following the completion of the sale, the chief executive officer directly owned 855,686 shares in the company, valued at approximately $46,874,479.08. This trade represents a 4.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Hannah Valantine sold 25,484 shares of BridgeBio Pharma stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $66.07, for a total value of $1,683,727.88. Following the sale, the director owned 7,465 shares of the company’s stock, valued at approximately $493,212.55. This represents a 77.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 587,215 shares of company stock worth $38,801,501 over the last ninety days. 18.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On BridgeBio Pharma

Several large investors have recently bought and sold shares of the stock. WINTON GROUP Ltd acquired a new position in BridgeBio Pharma in the second quarter valued at about $3,856,000. Moss Adams Wealth Advisors LLC increased its holdings in shares of BridgeBio Pharma by 49.2% during the second quarter. Moss Adams Wealth Advisors LLC now owns 24,172 shares of the company’s stock worth $1,044,000 after buying an additional 7,970 shares in the last quarter. Baird Financial Group Inc. acquired a new stake in shares of BridgeBio Pharma during the first quarter worth approximately $1,429,000. Bosun Asset Management LLC raised its stake in shares of BridgeBio Pharma by 119.7% in the second quarter. Bosun Asset Management LLC now owns 26,154 shares of the company’s stock valued at $1,129,000 after acquiring an additional 14,250 shares during the last quarter. Finally, Intech Investment Management LLC boosted its holdings in shares of BridgeBio Pharma by 12.0% in the 1st quarter. Intech Investment Management LLC now owns 73,524 shares of the company’s stock worth $2,542,000 after acquiring an additional 7,877 shares in the last quarter. 99.85% of the stock is currently owned by institutional investors and hedge funds.

BridgeBio Pharma Stock Performance

NASDAQ BBIO opened at $76.30 on Friday. The stock has a market capitalization of $14.70 billion, a PE ratio of -18.25 and a beta of 1.26. The stock has a 50-day simple moving average of $66.10 and a 200 day simple moving average of $53.98. BridgeBio Pharma has a twelve month low of $26.02 and a twelve month high of $77.20.

BridgeBio Pharma (NASDAQ:BBIO) last issued its quarterly earnings results on Wednesday, October 29th. The company reported ($0.95) EPS for the quarter, missing the consensus estimate of ($0.88) by ($0.07). The business had revenue of $120.70 million during the quarter, compared to the consensus estimate of $107.71 million. During the same quarter in the prior year, the company posted ($0.86) earnings per share. The firm’s revenue for the quarter was up 4318.0% on a year-over-year basis. As a group, equities research analysts forecast that BridgeBio Pharma will post -3.67 EPS for the current fiscal year.

Analyst Ratings Changes

BBIO has been the topic of several recent research reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of BridgeBio Pharma in a research report on Wednesday, October 8th. The Goldman Sachs Group raised their price target on shares of BridgeBio Pharma from $55.00 to $100.00 and gave the company a “buy” rating in a report on Thursday, October 30th. Piper Sandler upped their price objective on shares of BridgeBio Pharma from $93.00 to $98.00 and gave the stock an “overweight” rating in a report on Thursday, October 30th. UBS Group increased their target price on shares of BridgeBio Pharma from $72.00 to $82.00 and gave the stock a “buy” rating in a research report on Friday, September 12th. Finally, Raymond James Financial reaffirmed an “outperform” rating and issued a $71.00 price target (up previously from $69.00) on shares of BridgeBio Pharma in a research report on Thursday, October 30th. Twenty-one research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $76.25.

BridgeBio Pharma Company Profile

BridgeBio Pharma, Inc is a clinical-stage biopharmaceutical company headquartered in Palo Alto, California. Founded in 2015 by Neil Kumar, the company is dedicated to discovering, developing and delivering transformative medicines for patients with genetic diseases and cancers. BridgeBio operates an integrated model that spans target identification, preclinical research, clinical development and commercialization, aiming to streamline the process from bench to bedside.

BridgeBio’s pipeline comprises multiple therapeutic modalities, including small molecules, biologics and genetic therapies.