BridgeBio Pharma, Inc. (NASDAQ:BBIO) Short Interest Update

BridgeBio Pharma, Inc. (NASDAQ:BBIO) was the target of a significant growth in short interest in March. As of March 31st, there was short interest totalling 14,280,000 shares, a growth of 6.5% from the March 15th total of 13,410,000 shares. Based on an average daily trading volume, of 1,730,000 shares, the days-to-cover ratio is presently 8.3 days. Currently, 10.3% of the company’s stock are sold short.

Analyst Upgrades and Downgrades

BBIO has been the subject of a number of research analyst reports. Cantor Fitzgerald boosted their price target on BridgeBio Pharma from $60.00 to $70.00 and gave the company an “overweight” rating in a report on Tuesday, March 19th. Mizuho dropped their target price on shares of BridgeBio Pharma from $60.00 to $53.00 and set a “buy” rating on the stock in a report on Tuesday, March 5th. Citigroup raised their price target on shares of BridgeBio Pharma from $42.00 to $46.00 and gave the stock a “buy” rating in a research report on Friday, February 23rd. JPMorgan Chase & Co. boosted their price objective on shares of BridgeBio Pharma from $35.00 to $45.00 and gave the company an “overweight” rating in a research report on Wednesday, March 20th. Finally, BMO Capital Markets began coverage on shares of BridgeBio Pharma in a research note on Wednesday, January 31st. They set a “market perform” rating and a $37.00 price objective on the stock. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, BridgeBio Pharma has a consensus rating of “Moderate Buy” and a consensus price target of $47.17.

BridgeBio Pharma Price Performance

BBIO opened at $25.24 on Wednesday. The stock’s 50 day moving average price is $31.05 and its 200 day moving average price is $31.82. The stock has a market cap of $4.44 billion, a P/E ratio of -6.41 and a beta of 1.03. BridgeBio Pharma has a 12 month low of $12.75 and a 12 month high of $44.32.

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

Insider Transactions at BridgeBio Pharma

In other BridgeBio Pharma news, Director Randal W. Scott sold 2,500 shares of the stock in a transaction on Friday, March 1st. The shares were sold at an average price of $34.00, for a total transaction of $85,000.00. Following the transaction, the director now directly owns 6,500 shares in the company, valued at approximately $221,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 28.52% of the company’s stock.

Institutional Trading of BridgeBio Pharma

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Nomura Holdings Inc. increased its stake in shares of BridgeBio Pharma by 9.8% during the fourth quarter. Nomura Holdings Inc. now owns 257,995 shares of the company’s stock valued at $10,415,000 after acquiring an additional 22,986 shares during the period. Vanguard Group Inc. boosted its position in shares of BridgeBio Pharma by 13.5% in the 4th quarter. Vanguard Group Inc. now owns 12,800,294 shares of the company’s stock valued at $516,748,000 after purchasing an additional 1,524,313 shares during the period. Wellington Management Group LLP raised its holdings in shares of BridgeBio Pharma by 5.3% during the fourth quarter. Wellington Management Group LLP now owns 1,495,114 shares of the company’s stock valued at $60,358,000 after acquiring an additional 75,564 shares during the period. Virtu Financial LLC acquired a new stake in shares of BridgeBio Pharma during the fourth quarter valued at approximately $245,000. Finally, Quarry LP purchased a new stake in shares of BridgeBio Pharma in the 4th quarter valued at approximately $50,000. 99.85% of the stock is currently owned by 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.