BridgeBio Pharma (NASDAQ:BBIO) Stock Price Down 5.7%

BridgeBio Pharma, Inc. (NASDAQ:BBIO) shares were down 5.7% during trading on Friday . The company traded as low as $26.67 and last traded at $26.75. Approximately 278,975 shares were traded during mid-day trading, a decline of 84% from the average daily volume of 1,739,387 shares. The stock had previously closed at $28.36.

Analyst Ratings Changes

A number of analysts have recently commented on BBIO shares. BMO Capital Markets assumed coverage on BridgeBio Pharma in a research note on Wednesday, January 31st. They issued a “market perform” rating and a $37.00 target price on the stock. Raymond James assumed coverage on BridgeBio Pharma in a research report on Thursday, March 21st. They set an “outperform” rating and a $45.00 price target on the stock. HC Wainwright reiterated a “buy” rating and set a $47.00 price target on shares of BridgeBio Pharma in a research report on Monday, March 4th. Mizuho lowered their price target on BridgeBio Pharma from $60.00 to $53.00 and set a “buy” rating on the stock in a research report on Tuesday, March 5th. Finally, JPMorgan Chase & Co. increased their price target on BridgeBio Pharma from $35.00 to $45.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 20th. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $47.17.

BridgeBio Pharma Price Performance

The business has a fifty day simple moving average of $31.39 and a 200 day simple moving average of $31.80. The firm has a market cap of $4.72 billion, a price-to-earnings ratio of -6.81 and a beta of 1.03.

BridgeBio Pharma (NASDAQ:BBIO) last announced its earnings results on Thursday, February 22nd. The company reported ($0.96) EPS for the quarter, missing analysts’ consensus estimates of ($0.87) by ($0.09). The business had revenue of $1.74 million during the quarter, compared to analyst estimates of $4.78 million. BridgeBio Pharma’s revenue was down 8.4% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.92) earnings per share. On average, research analysts anticipate that BridgeBio Pharma, Inc. will post -3.09 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other BridgeBio Pharma news, Director Randal W. Scott sold 2,500 shares of the firm’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $34.00, for a total transaction of $85,000.00. Following the completion of the sale, the director now owns 6,500 shares of the company’s stock, valued at $221,000. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, Director Hannah Valantine sold 2,915 shares of the firm’s stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $37.97, for a total transaction of $110,682.55. Following the completion of the transaction, the director now directly owns 1,764 shares in the company, valued at $66,979.08. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Randal W. Scott sold 2,500 shares of the firm’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $34.00, for a total value of $85,000.00. Following the transaction, the director now owns 6,500 shares of the company’s stock, valued at $221,000. The disclosure for this sale can be found here. 28.52% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of BBIO. Clear Street Markets LLC purchased a new position in shares of BridgeBio Pharma during the first quarter worth $33,000. Quantbot Technologies LP boosted its position in shares of BridgeBio Pharma by 500.0% during the first quarter. Quantbot Technologies LP now owns 4,200 shares of the company’s stock worth $42,000 after buying an additional 3,500 shares during the period. Quarry LP purchased a new position in BridgeBio Pharma in the fourth quarter valued at $50,000. Assetmark Inc. purchased a new position in BridgeBio Pharma in the third quarter valued at $53,000. Finally, Sandia Investment Management LP purchased a new position in BridgeBio Pharma in the first quarter valued at $83,000. 99.85% of the stock is currently owned by hedge funds and other 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.